Communication Federal Credit Union (CFCU) is offering members a bonus of $222 when they sign up for their first PayMe Checking account or Performance checking account. These are both free accounts that can be opened online. You’ll need to set up direct deposit and use your debit card to earn the bonus, but it’s relatively low effort and and easy bonus to earn.
The CFCU Personal Checking promotion requires you to set up direct deposits and make purchases using the account’s card in order to earn the $222 bonus.
We do not recommend this bank if you are planning on taking out a new line of credit such as a mortgage or credit card in the near future. Communications Federal does a hard pull and this can stay on your credit report for two years. I opened up an account for this $222 over the weekend and got an instant notification from Credit Karma stating a hard pull was done by CFCU. I was shocked that a credit union checking account that I used a credit card to find would do this. Credit Karma actually thought I had three mortgage inquiries by opening up this ONE account. Absurd.
There are so many better offers out there you can trust such as SOFI with a lower bonus of $100 and more bonuses here.
If you do wish to go ahead with the $222 bonus then read below for the steps to take so you do not do something wrong in the application process.
Full requirements to receive this bonus are:
- Become a member of Communication Federal Credit Union.
- Open your first PayMe Checking or Performance Checking account with promo code “222”.
- Within the first 90 days, receive direct deposits totaling $2,222.
- Within the same 90 days, make 22 debit card purchases of at least $2 and enroll in eStatements.
- Bonus paid to Primary Share within 90 days of requirements being met.
Deal at a Glance:
- Bonus amount: $222
- Availability: Oklahoma & Kansas
- Direct deposit required: Yes, $2,222+ within 90 days
- Additional requirements: See below
- Hard/soft pull: HARD PULL VERIFIED.
- ChexSystems: Unknown
- Credit card funding: Can fund each account up to $500 (Visa & Mastercard). Might be able to fund more
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: April 30, 2022
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