Posted by William Charles on September 14, 2017
Bank Account Bonuses

Published on September 14th, 2017 | by William Charles

6

[OH & KY] CinFed Credit Union $125 Checking Bonus



Offer at a glance

  • Maximum bonus amount: $125 for checking, $75 for various loans
  • Availability: Must live, work or worship in Hamilton County, OH or Boone County, Campbell County & Kenton County in KY
  • Direct deposit required: Yes for $25 of the bonus, no minimum mentioned
  • Additional requirements: Lots, see below
  • Hard/soft pull: Hard pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: December 15th, 2017

The Offer

Direct link to offer

  • CinFed credit union is offering a new member bonus of $200 (really a $125 checking bonus). Bonus is broken down as follows:
    • Earn $50 when you open a new checking account with eStatements and Cinfed online
    • Earn $25 when you add a direct deposit
    • Earn $25 when you complete at least 12 debit card transactions within the first 60 days
    • Earn $25 when you pay 2 bills with online bill pay
  • They also have another $75 for the following:
    • Earn $25 when you open a new credit card account and use it during the first 60 days
    • Earn $50 when you open a new certificat* or transfer your auto loan* to Cinfed from another institution



The Fine Print

  • Must meet qualifying criteria to open checking account.
  • Member cannot have had a previous Cinfed account.
  • Checking and certificates must be opened by 12/15/2017.
  • Direct Deposit must be credited to account within 60 days of account opening.
  • Debit card use and Bill Pay payment must be posted and completed within 60 days of account opening.
  • Minimum deposit for certificate bonus is $2,500 new money (one certificate bonus per member).
  • Minimum of $2,500 required for new loans. Loans and credit cards subject to credit approval.
  • Rates may vary depending on credit. Bonuses will be credited to account after 60 days and will be reported on form 1099-INT. Offer excludes HSA Checking accounts and is subject to change without notice. Valid on loans and credit cards approved by 12/15/2017.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees



All of their accounts have no monthly fee apart from Fresh Start. I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

Seems like a lot of requirements for a relatively small bonus, especially when it’s also a hard pull to open. Makes it not worth seriously considering in my opinion.

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:



6 Responses to [OH & KY] CinFed Credit Union $125 Checking Bonus

  1. jamesheine says:

    Darn, I live in Louisville

  2. jamesheine says:

    Actually, when I get a chance I think I will state that I worship in a KY county. I will update the site on whether that works or not

    • jamesheine says:

      I got put into a pending status a few days back and just got a call from them. I don’t think that I will be able to keep up a of worshipping in a certain county story so not going to follow up. In the end this definately wasnt worth the hard pull. haha

  3. Kmart28 says:

    I’m a Cinfed member. They pulled Experian report when opening checking account.

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