PSECU Promotions: $300 Checking Account Bonus

Everything you need to know about PSECU promotions; how to qualify, when the offers expire, how current promotions compare to previous bonuses, and more!

Currently, PSECU is offering a $300 bonus for opening a checking account and completing qualified direct deposits.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase Bank, SoFi, KeyBank, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

About PSECU Promotions

PSECU stands for Pennsylvania State Employees Credit Union with over 550,000 members and $7.5 billion in assets. It’s the largest credit union in Pennsylvania.

Free PSECU membership is open to 1) those who reside, worship, work, or attend school in Medina or Cuyahoga counties; 2) immediate family of current PSECU members; 3) employees or members of any of the 200 SEGs

If you don’t meet one of the above criteria, you can join the Pennsylvania Recreation and Park Society (PRPS) through PSECU to gain PSECU membership. PRPS membership is a one-time fee of $20, but PSECU will cover $10 when you open your account online.

PSECU will take care of your PRPS membership registration as part of your PSECU membership application. You don’t need to renew your PRPS membership to maintain your PSECU membership.

PSECU Promotions

Offer #1: PSECU $300 Checking Bonus

Get up to a $300 bonus when you open a PSECU checking account and meet promo requirements for all three levels.

How To Earn Welcome Bonus:

1. Become a PSECU member by using this link and entering promo code RIGHTNOTE (code is automatically added by clicking the link).
2. Stage 1 (must be completed within 60 days of establishing membership): Earn $200 when you add a free checking account, log into digital banking (online or mobile), and complete qualifying direct deposits that total at least $500 per calendar month.
3. Stage 2 (must be completed within 120 days after Stage 1 requirements have been met): Earn $100 when you continue recurring direct deposits totaling at least $500 per calendar month for 3 consecutive months (after Stage 1 requirements are met with a total additional amount deposited of at least $1,500 during Stage 2) and complete a minimum of 10 eligible debit card purchases.
4. Receive bonus within 45 days of completing offer requirements.

Bonus Offer Details:

Availability: Nationwide
Expiration: 12/31/24
Household Limit: None
Direct Deposit Required: Yes, $200+
Soft/Hard Pull: Hard
Early Account Termination Fee: No

PSECU Level Up $300 Bonus Terms & Conditions:

• From 1/1/2024 to 12/31/2024, PSECU is running a new member incentive bonus. To receive up to $300, new members must sign up with a promotional code and satisfy each of the requirements listed below. PSECU will deposit member incentive bonus into the Regular share within 45 days after the requirements are satisfied.
• Promotion open to U.S. Residents who are 18 years of age or older at the time the account is opened. Limit one (1) new member Level Up bonus per tax identification number used to open a new PSECU account. You will not be eligible for the Level Up bonus if you are a current PSECU member, have closed an account within the past 12 months, or have received a previous new member incentive bonus within the past 12 months.
• Members who open accounts and/or loans by fraudulent, suspicious, or illegal means, including but not limited to providing PSECU with fraudulent or fabricated information, are not eligible to participate in this bonus offer. PSECU may adjust the deposited bonus or remove the deposited bonus at any time if PSECU suspects accounts and/or loans were opened by fraudulent, suspicious, or illegal means, including but not limited to providing PSECU with fraudulent or fabricated information.
• $5 is required to open and maintain a Regular share account. This $5 share deposit is also required to be eligible to receive the $300, and the member must be in good standing as defined by PSECU’s Bylaws Article II, Section 1.
• A $5 minimum share purchase will be made on behalf of the new member by PSECU. If the member account is closed within the first year of membership, the initial $5 share will be retained by PSECU.
• The Annual Percentage Yield on PSECU’s Regular share account is 0.50%. This variable rate is current as of 2.1.23 and may change.
• Withdrawals and fees may reduce earnings on the account.
• The recipient of the bonus (up to $300) is solely responsible for payment of applicable taxes on that amount. If you have any questions, please seek the advice of a qualified tax professional. All decisions of PSECU regarding this promotion are final.
• PSECU may terminate or change the terms and conditions of this promotion without notice. Subject to all applicable federal, state, and local laws and regulations.

Stage 1 $200 Bonus Requirements

Within 60 days of establishing membership, you must be approved for savings and checking accounts, sign up and log in to digital banking (online or mobile), and establish Qualifying Payroll Direct Deposit(s). Qualifying Payroll Direct Deposits are defined as paychecks, Social Security payments, and pension payments that total at least $500 per calendar month. You may have more than one Qualifying Payroll Direct Deposit coming into your account per calendar month to reach the $500 minimum requirement.

The following are not Qualifying Direct Deposits: person to person transfers (P2P), demand deposit account to demand deposit account transfers (for example, from a checking account to another checking account), and deposits or ACH transfers not from an employer or the government (for example, online transfers or bank transfers).

Stage 2 $100 Bonus Requirements

You must meet the requirements of Stage 1. You must continue your recurring Qualifying Payroll Direct Deposits totaling at least $500 per calendar month for 3 consecutive months after Stage 1 requirements are met, with a total additional amount deposited of at least $1,500 or more to meet the requirements of Stage 2.

You must complete a minimum of 10 Eligible Debit Card Purchases. Eligible Debit Card Purchases are defined as individual purchases of at least $10 for a minimum overall purchase total of at least $100 within 120 days after completion of all requirements of Stage 1.

Transactions that are not eligible for this offer include, but are not limited to, the following: ATM transactions, checks clearing your account, account deposits, account transfers, ACH transactions, unauthorized purchases/fraudulent transactions, purchase of Travelers Cheques, gift cards, quasi-cash and any other cash equivalent transactions, account fees, fee reversals, dividends posted by PSECU, overdraft transfers, merchant returns, and credit adjustments.

Previous Promotions

The following PSECU promotions have expired and are listed here for reference purposes only. We will move them back to the current promotions section if they become available again.

Previous Offer #1: PSECU $250 Referral Bonus

Earn a $250 bonus when you use a referral link to sign up for a PSECU checking account and make qualifying direct deposits. The person who referred you will also receive a $50 referral bonus at no cost to you.

How To Earn Referral Bonus:

1. Join PSECU as a new member by using an existing member’s referral link.
2. Open a checking account with a PSECU debit card and online/mobile banking access to receive an initial $100 bonus.
3. Get an additional $150 bonus when you establish qualifying direct deposit(s) that total $200 or more within a single calendar month, recurring monthly, within 90 days of establishing membership.

Referral Offer Details:

Availability: Nationwide
Expiration: 12/31/23
Household Limit: None
Direct Deposit Required: Yes, $200+
Soft/Hard Pull: Hard
Early Account Termination Fee: Must keep the account open for 12 months or bonus will be forfeited

PSECU Referral Offer Terms & Conditions:

• PSECU is running a member incentive bonus thru 12/31/23.
• To receive up to $250, members must satisfy each of the requirements listed below. PSECU will deposit member incentive bonus into the Regular share within 45 days after the requirements are satisfied.
• $5 is required to open and maintain a Regular share account. This $5 share deposit is also required to be eligible to receive the $250.
• A $5 minimum share purchase will be made on behalf of the new member by PSECU. If the member account is closed within the first year of membership, the initial $5 share will be retained by PSECU.
• See complete terms and conditions at http://go.psecu.com/up/refer

$100 Checking Bonus Rules

You must sign up with a promotional code and be approved for a checking account, a PSECU debit card, and digital banking (online or mobile) account access within 90 days of establishing membership.

$150 Direct Deposit Bonus Rules

You must sign up with a promotional code; be approved for checking, debit card, and digital banking (online or mobile); and establish one or more qualifying payroll direct deposit(s) that together total $200 per calendar month, recurring monthly, within 90 days of establishing membership. Qualifying payroll direct deposits are defined as paychecks, Social Security payments, and pension payments.

The Bottom Line

Good offer with low direct deposit requirements, but just be aware that this is a hard pull on your credit report. This is less of an issue now considering how restrictive credit card issuers have become with applying for multiple credit cards.

I’d recommend pulling the trigger on this deal, unless you’re planning to apply for a loan soon and have too many recent credit inquiries.

These PSECU promotions will be added to the list of the best bank account welcome bonuses.