Holyoke Credit Union is now offering a $200 bonus to members who open a new Simply FREE Checking account.
It's not a bad bonus for a totally free account, however, there are a couple of inconveniences with this offer.
First, even though they'll reward the bonus after your first direct deposit clears, you'll need to continue to meet the direct deposit requirement each month for an entire year; otherwise, they will claw the bonus back. Second, you'll need to go into a local branch in order to open the account.
Personally, we think the payout should be higher given the long-term requirements. But 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 Simply FREE 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 Simply FREE 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:
Truist
Truist One Checking
- Bonus
- $400
- Account Type
- Personal Checking
- Expires In
- 33 days
- Requires
- Direct Deposit
BMO
Personal Checking
- Bonus
- $350*
- Account Type
- Personal Checking
- Expires In
- 35 days
- Requires
- Direct Deposit
TD Bank
Beyond Checking
- Bonus
- $300
- Account Type
- Personal Checking
- Expires In
- 94 days
- Requires
- Direct Deposit
Why Holyoke Credit Union?
Simply FREE Checking
Simply FREE is a straightforward checking account from Holyoke Credit Union. There's a $10 opening deposit required, but after that there is no balance requirement or monthly fee.
You'll have access to all of the features you'd expect from a checking account, including mobile and online banking, bill pay and mobile check deposit, and even a free set of checks when you open the account.
Fees
Simply FREE Checking does not charge a monthly maintenance fee.
Apply now for a Simply FREE 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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