Salal Credit Union is offering a $100 bonus for opening one of its checking accounts and having at least one direct deposit within 90 days of account opening. The checking account must be opened by September 30, 2011. Details of the promotion are listed in this Salal promotions page. Only My, Emerald, Silver Horizons checking accounts qualify. The My Checking account is a free checking account with no monthly service fees.
Below is the offer's small print at the bottom of the promotions page:
Offer good on new checking accounts opened August 1 through September 30, 2011. Limit one per household. My, Emerald, Silver Horizons checking accounts only. To be eligible for the $100 deposit, the checking account must be open at least 90 days and be in good standing; at least one direct deposit must occur within the initial 90 days. A minimum of $25 is required to open a Salal checking account. Deposits will be made to eligible accounts in December 2011/January 2012. This special cash offer is subject to IRS reporting and will be reflected on your 1099. For Silver Horizons, the annual percentage yield as of August 1, 2011 is 0.25% for balances of $5,000 to $24,999 and 0.40% for balances of $25,000 and over. Fees could reduce earnings on the account. Promo Code: Reasons2
The credit union also has a refer-a-friend bonus in which both the referee and the referrer can earn $25. This is scheduled to last until 12/31/2011. Details are listed at the credit union's refer-a-friend page.
Membership is open to anyone who lives or works in Washington State. Please refer to the credit union's Who Can Join page for the full details.
Membership requires a minimum balance of $5 in the Primary Savings Account. Update 8/24/2011: Membership requirements have changed. Members now only need to maintain an open and active account with Salal.
Salal Credit Union branches are located in Seattle, Bellevue and Tukwila. The credit union is also part of the CO-OP Network of ATMs and part of the shared branch network.
The credit union has an overall health score of 5 stars (out of 5) with a Texas Ratio of 7.52% (excellent) based on March 2011 data. Please refer to our financial overview of Salal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 66349).
Other Bank and Credit Union Bonuses
We have a new bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.