Holyoke Credit Union is now offering a $200 bonus to members who open a new NOW Checking account.
It's not a bad bonus for a totally free account, however, there are a couple of inconveniences with this offer.
First, you'll need to go into a local branch in order to open the account. Second, you'll need to continue to meet the direct deposit requirement each month for an entire year; otherwise, they will claw the bonus back.
Personally, we think the payout should be higher given the long-term requirements. With that said, it IS $50 higher than when it was previously offered. If you were looking to make the switch to a local credit union anyway, then the free cash could be worthwhile for you.
How To Earn The Bonus
The Holyoke Credit Union NOW Checking promotion requires you to set up eligible direct deposits and make purchases using the account's card in order to earn the $200 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the credit union will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- Opening a Holyoke Credit Union VISA® Platinum credit card and spending $1,000 using your new card within the first 3 months will waive the debit card purchases requirement.
- Your checking account will be charged $200 if the requirements are not met or you close the account during the first 12 months after the account is opened.
- One $200 bonus per member/household.
- Existing HCU checking account holders are excluded from offer.
Open a NOW Checking account before the bonus expires
How does this personal checking offer from Holyoke Credit Union compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
TD Bank
Beyond Checking
- Bonus
- $300
- Account Type
- Personal Checking
- Expires In
- 38 days
- Requires
- Direct Deposit
BMO
Personal Checking
- Bonus
- $400 Cash Bonus*
- Account Type
- Personal Checking
- Expires In
- 108 days
- Requires
- Direct Deposit
Discover
Discover® Cashback Checking
- Bonus
- up to $360
- Account Type
- Personal Checking
- Expires In
- Limited Time
- Requires
- Card Spend
Why Holyoke Credit Union?
NOW Checking
HCU's NOW Checking is their interest-bearing checking account. You'll also receive unlimited check-writing privileges, free unlimited use of Holyoke Credit Union ATMs, free Online Banking, Bill Payment, and eStatements with Holyoke Credit Union AtHome and free Holyoke Credit Union Mobile Banking with iPhone and Android apps.Fees
NOW Checking does charge a monthly maintenance fee of $7, but there are ways to get this waived:
- Maintain a minimum average daily balance of $1,000
- OR, have your paycheck, pension, or social security check direct deposited into the account
Apply now for a NOW Checking account to earn the $200 bonus offer
How to Join Holyoke Credit Union
Credit unions differ from banks in that they restrict membership based on a shared common bond, or the credit union’s “field of membership”.
That means in order to qualify for this bonus (or any offer from a credit union), you'll first need to meet one of Holyoke Credit Union's membership requirements:
- Live or work in Hampden or Hampshire counties in Massachusetts
Keep in mind that nearly all credit unions have a "once a member, always a member" policy, so once you're in, the above restrictions no longer apply.
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