Propell Credit Union is offering new checking customers the chance to earn up to a $250 bonus when they open an iSAVE Free Checking account and move their direct deposit.
This is a fairly simple credit union bonus compared to many other checking promotions. Instead of requiring multiple direct deposits, debit card transactions, or a large minimum balance, Propell will match your first qualifying direct deposit that posts within 30 days of account opening, up to $250.
That means if your first qualifying direct deposit is $250 or more, you should be able to earn the full $250 bonus.
The offer is only available locally. If you’re looking for offers available nationwide, check out our top picks here—including huge offers from Chase, CIT Bank and Axos Bank that you won’t want to miss!
Propell Credit Union $250 Bonus Summary
| Bonus | Requirements |
|---|---|
| Bonus Amount | Up to $250 |
| Account | iSAVE Free Checking |
| Direct Deposit Requirement | First qualifying direct deposit within 30 days |
| Bonus Structure | Propell matches your first direct deposit up to $250 |
| Bonus Payout | Within 45 days of account opening |
| Eligibility | Must be 18 or older |
| Exclusions | Existing Propell checking account holders excluded |
| Savings Requirement | iSAVE Savings account required to open checking |
How The Propell Credit Union $250 Bonus Works
Propell Credit Union will match up to $250 of your first qualifying direct deposit that posts to your new iSAVE Free Checking account within 30 days of account opening.
For example, if your first qualifying direct deposit is $100, your bonus should be $100. If your first qualifying direct deposit is $250 or more, your bonus should be the full $250.
This makes the promotion especially attractive if you can quickly move your payroll or benefits deposit to Propell after opening the account.
How To Earn The Propell Credit Union $250 Bonus
To earn the Propell Credit Union checking bonus, follow these steps:
- Open an eligible iSAVE Free Checking account with Propell Credit Union.
- Open or maintain the required iSAVE Savings account, since an iSAVE Savings account is required to open an iSAVE Free Checking account.
- Set up a qualifying direct deposit from your employer, payroll provider, or benefits provider.
- Have your first qualifying direct deposit post to the iSAVE Free Checking account within 30 days of account opening.
- Propell will match that first direct deposit up to $250.
- The bonus will be posted to your iSAVE Free Checking account within 45 days of account opening.
Trending Checking Account Deal:
What Counts As A Qualifying Direct Deposit?
For this promotion, a qualifying direct deposit must come from a member’s employer, payroll provider, or benefits provider via ACH deposit.
That means typical payroll deposits from your job should qualify. Certain government benefits or other benefits provider deposits may also qualify if they are sent via ACH.
Propell specifically excludes several types of deposits from this promotion, including:
Check deposits, person-to-person transfers from services like PayPal or Venmo, merchant transactions from services like PayPal, Stripe, or Square, and bank ACH transfers that are not from an employer.
In other words, a simple transfer from another bank account will not qualify for the bonus.
Trending Savings Account Deal:
Who Is Eligible?
This offer is available to individuals who are at least 18 years old.
Existing Propell checking account holders are excluded from the $250 Direct Deposit Bonus, so this promotion is best for new checking customers who are ready to move their direct deposit to Propell Credit Union.
As always, you should also confirm membership eligibility with Propell Credit Union before applying.
When Will The Bonus Be Paid?
The Direct Deposit Bonus will be posted to the iSAVE Free Checking account within 45 days of account opening.
This is a relatively fast payout timeline compared to some bank bonuses, especially since the direct deposit must post within the first 30 days.
About Propell Credit Union
Propell Credit Union is a Pennsylvania-based credit union with locations including Ridley Park, Glen Mills, Havertown, and West Chester. The credit union promotes itself as a local, member-first banking option with local decision-making, competitive rates, and help for customers who want to switch their checking account and direct deposit.
Propell Credit Union’s main office is located at:
501 Industrial Highway
Ridley Park, PA 19078
The credit union is federally insured by the NCUA.
Important Terms To Know
Before opening an account, keep these details in mind:
The promotion is subject to change or termination without notice. The bonus is considered miscellaneous income and may be reportable to the IRS on Form 1099-MISC or Form 1042-S, if applicable. Existing Propell checking account holders are not eligible for the $250 Direct Deposit Bonus. An iSAVE Savings account is required to open an iSAVE Free Checking account.
See the Best Checking & Savings Account Bonuses and Start Earning Free Cash Today
Is The Propell Credit Union $250 Bonus Worth It?
The Propell Credit Union $250 bonus may be worth considering if you are eligible for membership, do not already have a Propell checking account, and can move a qualifying direct deposit soon after opening the account.
The main advantage is that the requirement is straightforward. You only need your first qualifying direct deposit to post within 30 days, and Propell will match that deposit up to $250.
However, the bonus is not automatic. You’ll need to make sure your direct deposit comes from an eligible source, such as an employer, payroll provider, or benefits provider. Regular bank transfers, PayPal or Venmo transfers, and check deposits will not count.
For those who can meet the requirements, this is a simple checking bonus with a relatively quick payout timeline.
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