Pennsylvania State Employees Credit Union (PSECU) has a $300 new checking account bonus that is broken up into three “levels” of $100 each. That is also my referral link as I am also doing this deal. PSECU is a digital-first credit union with a very open membership. In fact, they will cover your dues to join the required partner organization in order to qualify for membership. It’s all part of the sign-up process.
In order to take advantage of PSECU’s products and services, you must be a member of PSECU. Pennsylvania Recreation and Park Society (PRPS) members are eligible for PSECU membership. You have the option to join PRPS at the Friend level. PSECU will cover the $20 dues. To continue your relationship with PSECU, you do not need to maintain PRPS membership.
They will even cover the required $5 initial deposit into a share savings account. I did however experience a hard credit check on Experian, which is (unfortunately) common amongst credit unions. Here are the details on the bonus requirements:
$100 Checking Bonus (Level 1)
- Become a PSECU member using promo link and promo code LEVELUP (should be automatically applied) and add a free checking account with debit card.
- Log into digital banking (online or mobile).
- Activate your PSECU debit card.
- Must be completed in the first 30 days of establishing your membership.
$100 Checking Bonus (Level 2)
- Do the above, and establish one or more qualifying payroll direct deposits that together total $200 per calendar month.
- Must be completed within 90 days of establishing your membership.
$100 Checking Bonus (Level 3)
- Do the above, and maintain the qualifying payroll direct deposit(s) for 90 days after initial deposit.
Full terms and conditions:
From 1/1/2023 to 12/31/2023, 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.
My application process went smoothly and similar to other credit unions. I did have to upload a scan of the front and back of my driver’s license to help verify my identity (which is a good thing in my opinion) as well as answer some identity verification questions based on my credit report. The application took a couple days to process but I was able to get my account information and online access without any phone call or paperwork required. I did have to call them briefly to get my checking account number (didn’t want to wait on the free checks to arrive) in order to set up my direct deposit.
If you do not wish to join PRPS, call us at 800.237.7328, extension 3133, so we may help you with PSECU eligibility.
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