Advance Financial Federal Credit Union has a checking account promotion in which you can earn up to $100. It's scheduled to last until June 30, 2011. To qualify for the full bonus requires opening a checking account with a debit card. You then have to establish direct deposit and use the online bill pay service. Some of the important details listed in the credit union specials page include:
Set up a brand new direct deposit of your recurring check ($50 minimum) during the promotional period and receive $50 deposited into your checking account after statement verification. Transfers from other accounts at AFFCU do not qualify, and the direct deposit must be your entire check. Register for and utilize AFFCU’s bill pay service during the promotional period and receive $50 deposited into your checking account after statement verification. Bill payments of AFFCU loans do not qualify, and bill payments must be for an entire bill or the required minimum payment (nothing less).
The checking account, direct deposit and bill pay must remain open for a minimum of six months or the bonuses will be debited from your account. Bonuses will be considered interest and will be reported on IRS Form 1099-INT.
Free Checking Account
The credit union does offer a free checking account. It's called Better Than Free Checking. In addition to being free of monthly service charges, it offers free checks and free online bill pay. It also pays interest, but the interest rate is low (top tier rate is only 0.35% as of 5/31/11).
Membership is open to anyone who lives, works, worships, volunteers or attends school Lake County, Indiana. You can also be eligible via family members (and not just immediate family). Please refer to the credit union's membership page for the full details. Membership requires a minimum deposit of $5 into the regular share savings account.
Credit Union Overview
Advance Financial branches are located in the Indiana cities of East Chicago, Schererville and Gary.
The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 1.44% (excellent) based on March 2011 data. Please refer to our financial overview of Advance Financial for more details. The credit union is federally insured by the NCUA (Charter # 24078).