Update 11/1/2019 – Rate increased to 2.10% APY.
Update 10/5/2019 – This bonus is no longer available. See the current list of bank bonuses.
Elements Financial Credit Union has a $200 bonus for new checking accounts. On top of that, their High Interest Checking account also earns 2.00% APY on balances of up to $20,000.
$200 Signup Bonus
To get this bonus you must fulfill the following requirements:
- Open a High Interest Checking Account with promo code CHECK200
- Have a minimum of $500 recurring monthly direct deposit within 60 days
Please allow 4-6 weeks for receipt of bonus.
Eligibility
- Offer is available nationwide even though the website shows it for State of Indiana employees and family members. There’s some risks but there’s been many data points where people have received the bonus.
- Existing Elements checking accountholders not eligible.
- One offer per household.
Fees
There’s no monthly fee for the High Interest Checking account if you sign up for eStatements.
If the account is closed within six months, we reserve the right to deduct the bonus at that time.
Credit Union Membership
You will need to be a member first in order to apply. Anyone can join Elements Financial Credit Union. The easiest option is to pay a one time $5 fee to Tru Direction. If you’re a family member of current members you don’t need to do this.
2.00% APY
The APY is 2.00% on balances up to $20,000, 0.10% on balances greater than $20,000. To get this rate you need to:
- Have at least 15 transactions monthly (debit purchases, checks, bill payments, ATM withdrawals)
- Maintain a minimum average daily balance of $100
Dividends will be paid per statement cycle requirement. At least one account holder must be at least 18 years old. Accounts not meeting the qualifying threshold will earn 0.05% APY.
Guru’s Wrap-Up
This is a nice signup bonus that can be done online and on top of that you can also earn 2% APY on balances of up to $20K. The bonus requires a direct deposit of at least $500, but most ACHs will work. The account has a $5 monthly fee that is waived with eStatements and you need to keep it open for 6 months to get the bonus. Just keep in mind that this credit union is inquiry sensitive.
If this bonus is not for you, then you can check our full list of available bank bonuses.
Offer Details
- Offer Page
- Bonus: $200
- Account Type: High Interest Checking
- Availability: Nationwide
- Expiration Date: None
- Inquiry Type: Soft pull
- Credit Card Funding: No
- Direct Deposit Requirement: Yes, $500
- Other requirements: No (15 transactions to get 2% APY)
- Monthly Fee: Can be waived
- Early Closing Fee: Unknown (but shouldn’t be an issue since you will have account opened for 10 months anyway)
HT: DoC
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