Purdue Federal Credit Union is helping you save for unexpected emergencies by offering a $100 bonus for opening their Emergency Savings account and making recurring deposits.
You'll need to maintain the recurring deposit for at least 3 months, and your reward will depend on the amount you amass in the account by the end of that 3 month period: $500 will earn you $50 or $1,000 will earn you $100.
Like all credit union bonuses, you'll also need to meet their membership requirements in order to join. If you qualify, this is a pretty decent offer given the easy terms.
How To Earn The Bonus
The Purdue Federal Credit Union Emergency Savings promotion requires you to deposit and maintain a minimum balance in order to earn the up to $100 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
- Bonus is a considered interest and will be reported on IRS Form 1099-INT.
- Social Security Number required for account holder to receive bonus.
- Member must maintain a checking account on the same membership as the Emergency Savings Account.
- If the related checking account is closed for two consecutive months the Emergency Savings Account will convert to a special savings account.
- Limited to one Emergency Savings Account per membership.
- Not available to businesses.
- Membership eligibility required.
Open an Emergency Savings account before the bonus expires
How does this personal savings offer from Purdue Federal 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:
Barclays
Barclays Tiered Savings
- Bonus
- $200
- Account Type
- Personal Savings
- Expires In
- 19 days
- Requires
- Min Balance
Live Oak
Live Oak business savings
- Bonus
- $200
- Account Type
- Business Savings
- Expires In
- 26 days
- Requires
- Min Balance
TD Bank
Personal Savings Account
- Bonus
- $200
- Account Type
- Personal Savings
- Expires In
- 13 days
- Requires
- Min Balance
Why Purdue Federal Credit Union?
Emergency Savings
While technically any savings account can be earmarked as an emergency fund, Purdue Federal Credit Union offers the Emergency Savings Account as a place to stash 3-6 months of expenses to cover the unexpected.
You'll need to have an active checking account with the credit union in order to qualify for the account.
Unfortunately, you can't open the account online. Instead, you'll need to stop by a branch or contact Purdue FCU by phone.
Fees
Emergency Savings does not charge a monthly maintenance fee.
Apply now for an Emergency Savings account to earn the up to $100 bonus offer
How to Join Purdue Federal 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 Purdue Federal Credit Union's membership requirements:
- Be a current student, employee, alumni, or retiree as pensioner or annuitant of Purdue University.
- Be an immediate family member of any of the above qualified persons.
- Live, work, study, or worship in LaPorte County, Indiana.
- Work for one of the dozens of businesses, public agencies or nonprofit organizations, you're also eligible. (See their list).
- Any immediate family member of a Purdue Federal member qualifies.
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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