Westerra Credit Union is again offering a checking account promotion. This time there's no gift option. The bonus is $125 cash. Direct deposit is required. The promotion is listed on the credit union's front page and on its checking account page as of 11/07/2011. Here's the offer's small print:
Offer valid for new checking accounts only. Direct Deposit of payroll/retirement and electronic statements required. $125 will be awarded after the first direct deposit is received in the account - stop by any branch or call 303-321-4209 to obtain $125. Bonus will be reported to IRS as income as required by law. Deposit of $5 in savings account required. $5 membership fee waived. Limited time offer.
From the small print it appears any of the checking accounts can qualify. The only problem with the Better Than Free Checking is that it requires direct deposit. Value checking is also free, but doesn't require direct deposit. The two main advantages of Better Than Free Checking over Value Checking are free checks and reimbursements of up to 3 ATM surcharges a month (from ATMs outside the CO-OP Network).
Membership is open to those who live or work in the City and County of Denver, Arapahoe County, Jefferson County, or City of Aurora, Colorado. Please refer to the credit union's About page for more details. Membership requires a minimum balance of $5 in the share savings account. There's also a $5 membership fee, but you can have the fee waived through this checking account promotion.
Westerra Credit Union branches are located in Denver, Arvada, Aurora, Centennial, Conifer, Lakewood and Littleton. Westerra is also part of the CU Service Center which allows you to perform many banking transactions at shared branches throughout the nation.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 5.24% (excellent) based on June 2011 data. Please refer to our financial overview of Westerra Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 65788).
Other Credit Union and Bank 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.