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$200 Checking Account Bonus at Advance Financial in Indiana - Local Only


For those participating in Bank Transfer Day, here's a good credit union with a nice checking account promotion. It's Advance Financial Credit Union, and you can earn up to $200 in its checking account promotion. Full details are available in the credit union's promotions page. It's scheduled to last until 12/31/2011. To earn the full $200 requires the following be done during the promotional period:

  • $50 for opening a new checking account and signing up for the debit card
  • $100 for setting up direct deposit (direct deposit must be your entire check)
  • $50 for signing up and utilizing AFFCU's bill pay service

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 11/01/11).

One downside with the Better Than Free Checking is that it does not include free access to network ATMs. According to the AFFCU's location page:

Alliance One and CO-OP Network ATMs are completely surcharge free for Advantage Plus checking members ($5 monthly account fee applies). Free or Better Than Free Checking members are charged only 1 foreign ATM transaction fee of $1.50 (per occurrence) when using a non-Advance Financial ATM within the two networks.

For those who are active ATM users, this could be costly. Most credit unions that are part of these ATM networks give free ATM access to all of their checking account members.


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 of 4 stars (out of 5) with a Texas Ratio of 12.26% (above average) based on June 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).

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.

  Tags: Advance Financial Credit Union, Indiana, checking account

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Comment #1 by Anonymous posted on
I really can't see an upside to participating in Bank Transfer Day. $5 a month just to have this account. Wt still I get to pay $5 a month? Humh!