Credit Union 1 Promotions: $500 Checking Account Signup Bonus [IL] – Ended

Setup direct deposit with a new checking account and earn a $500 bonus with this offer from Credit Union 1.

• Update 12/24/2023: Offer has ended.
• Update 1/22/2023: Offer has returned and expires 2/28/2023.
• Update 12/17/2022: Offer is back and expires 12/31/2022.

CU1 was established in 1958 and is headquartered in Rantoul, Illinois. They have locations in Illinois, Indiana, and Nevada.

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Membership Information For Credit Union:
CU1 has several types of membership eligibility. As you complete an online application, the system will determine your eligibility. Or, speak with a Member Solutions Specialist. See current membership info.

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See Posts History below for more offers from Credit Union 1.

Credit Union 1 $500 Checking Bonus

• What you’ll get: $500
• Where it’s available: IL, IN, NV (possibly Nationwide available through donation, see fine print).
• How to earn it:
  • Open a checking account with CU1 online and use Promo Code CHK500, at your local branch or by calling them. Already a member with a checking account? Setup your direct deposit in digital banking and call their team to mention the “$500 checking offer”.
  • Establish direct deposit activity within 90 days of account opening or by February 28, 2023.
  • The $500 bonus will be deposited into your account following three (3) consecutive months of qualifying activity.
• When it expires: 2/28/2023

Waive The Monthly Fee

Their free checking account has no monthly fee.

Fine Print

• Offer not available to existing members who already have direct deposit coming into a CU1 account, those whose accounts have been closed within 90 days, or closed with a negative balance within the last 3 years from the date of use of the Promo Code.
• Promo Code is only good for one-time use and is not redeemable with any other offers.
• To receive $500 bonus: (1) Within 90 days of use of the Promo Code, you must establish a recurring direct deposit into a new or existing CU1 checking account and the recurring direct deposit must result in a minimum aggregate total direct deposit of $1,000 per month being received into the new or existing CU1 checking account for three consecutive months beginning on the date of the use of the Promo Code. (2) The three consecutive months must be accomplished before the expiration of one-hundred eighty days from the date of use of the Promo Code. (3) Your direct deposit must be from an electronic deposit of your paycheck, investment account, pension or government benefits (such as Social Security) distribution from your employer or government agency. Person to Person transfers or payments and wire transfers or any other non-recurring electronic deposit are not considered a recurring direct deposit.
• Bonus will be paid by deposit into your CU1 checking account within 30 days of meeting all qualifying criteria.
• To receive the bonus, the checking account must not be closed or restricted at the time of payout.
• Bonus is considered interest and will be reported on 1099-INT.
• This offer may be cancelled or amended at any time without notice.
• Account Closure: If the checking account is closed by the member or by CU1 within 12 months after opening, we will deduct the bonus amount from the checking account at closing.

Bottom Line

This seems to be a great deal for those who qualify for membership.

Posts History:

• Credit Union 1 $1000 Savings Bonus [IL] – Ended

READ MORE: WELCOME OFFERS FROM CHASE AND BMO.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.