Posted by William Charles on March 1, 2017
Bank Account Bonuses

Published on March 1st, 2017 | by William Charles

13

[FL only] Power Financial Credit Union $100 Checking Bonus – No Direct Deposit Required



Offer at a glance

  • Maximum bonus amount: $250, $100 without loan
  • Availability: Membership is open to all residents of Monroe, Miami Dade, Broward, Palm Beach, Martin, Sarasota, Manatee, Hillsborough and Pinellas Counties; as well as, friends and family of current members. All are in FL. 
  • Direct deposit required: Optional
  • Additional requirements: Direct deposit or initial deposit of $500+
  • Hard/soft pull: Reports of hard & soft pull, looks to be a hard pull
  • ChexSystems: Yes
  • Credit card funding: Unknown
  • Monthly fees:
  • Early account termination fee: 90 days, bonus forfeit
  • Household limit:
  • Expiration date: December 31st, 2017

The Offer

Direct link to offer

  • Power Financial Credit Union are offering a sign up bonus of up to $250, bonuses are as follows:
    • Open a checking or savings account and receive $100 when you open with an initial deposit of $500 or receive a direct deposit of $500+
    • Open a check account AND a consumer loan with membership and receive $150
    • Open a checking account, consumer loan AND a Certificate of Deposit with membership and receive $200
    • Open a checking account, consumer loan, Certificate of Deposit AND a mortgage with membership and receive $250

power financial



The Fine Print

  • Promotion ends December 31, 2017.
  • Prizes will be awarded upon account meeting qualification criteria.
  • New accounts require opening a checking account with direct deposit or a minimum initial deposit of $500. Checking account must remain open for 90 days.
  • Membership required; $5 membership deposit. Membership is open to all residents of Monroe, Miami Dade, Broward, Palm Beach, Martin, Sarasota, Manatee, Hillsborough and Pinellas Counties; as well as, friends and family of current members.
  • Must be 18 or older. Rest
  •  Minimum Loan Amount of $2,500. Offer not valid on share secured nor CD secured loans.
  •  Minimum deposit amount is $10,000. Term of CD must be 12 months or longer. 
  • Minimum loan amount of $100,000.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees



As the $100 bonus includes savings accounts you should be able to just open the club saving account and this has no monthly fees. You do need to keep the account open for 90 days to avoid any early account termination fee.

Our Verdict

They have offered a similar bonus in the past and my verdict is still the same. If there is no hard pull, this is a great deal. I wouldn’t bother with the bigger bonuses that require a loan, but $100 with no monthly fees or any bonus requirements is still a great deal. If anybody does decide to sign up, please share your experiences in the comments below.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



13 Responses to [FL only] Power Financial Credit Union $100 Checking Bonus – No Direct Deposit Required

  1. Austin Auclair says:

    Can i get yall to look at this florida credit union bonus as well? https://midflorida.com/accounts/business/new-business-account-bonus?gclid=CODz45rRtdICFdgNgQodNdwAlg
    What yall think?

  2. Matthew Rosson says:

    Got to the end and it looks like they do an EQ hard pull.

    I authorize
    I certify the accuracy of the above information and authorize Equifax Secure, Inc. to access my credit file to authenticate my identity and facilitate the processing of this application for this Power Financial Credit Union account only. I understand that I may be asked questions based on the information in my credit file as part of this process. I also understand that Power Financial Credit Union may review my credit history and past banking relationships before accepting this account.

  3. Bank Bonus Guy says:

    Actually there is no EQ hard pull, they just use EQ to pull questions to confirm identity. But they DO pull Chexsystems and I was denied based on the CX report. I had 4 bank inquiries in the past year, maybe that’s why. No other negatives.

  4. Alan says:

    Any success story?

  5. Jennifer says:

    EQ hard pull. 🙁

  6. Jennifer says:

    Dang it, that was supposed to say absolutely nothing fancy!

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