Bank Mutual is offering a checking account promotion to celebrate the bank's 120th birthday. You can earn $120 for opening one of their qualifying checking accounts, adding direct deposit and registering for online banking with e-Statements. The offer is scheduled to last through March 31, 2012. The details are listed at the bank's promo page. The page lists four checking accounts that qualify for this promotion. All have potential monthly fees. One is the Money Management Package. It's a checking/savings combo. The only mention of fees that I see is if e-statements are not selected. I've copied the relevant small print of the offer below. I left out the info on APY since the rates are practically zero.
Other rules and restrictions may apply. Special is available to new checking customers only, now through March 31, 2012 at any Bank Mutual location. Offer not available for accounts opened with money currently on deposit at Bank Mutual. Personal accounts only. Promotion cannot be combined with any other offer. Minimum opening deposit is $100 per account. To qualify for $120 bonus, customer must open an ULTIMATE Checking, Money Management Package, Premier Preference Checking, or Silver Spirit Checking, add a CheckCard, and within 30 days, add direct deposit and register for Online Banking and e-Statements. Bonus is paid out after 90 days of customer qualifying.
$120 will be considered earned after the account has been open for six months, otherwise there will be a $120 charge when the account is closed. $120 will be reported as interest on IRS form 1099-INT. Limit of one $120 bonus per household.
It appears that a branch visit is required for this promotion. Bank Mutual branches are located throughout Wisconsin. Some of the cities with branches include Brookfield, Chippewa Falls, De Pere, Eau Claire, Green Bay, Madison, Marinette, Menomonie and Milwaukee.
The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 40.89% (below average) based on September 2011 data. Please refer to our financial overview of Bank Mutual for more details. The bank has been a FDIC member since 1940 (FDIC Certificate # 30125).
Other Bank Bonuses
We have a 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.