Members Plus Credit Union has another promotion that's similar to the one it was offering last year. The first part of the promotion is a $100 bonus for opening a free checking account and establishing direct deposit. The second part of the offer is a 0.25% rate bump on any of the credit union's CDs. There's also an auto loan special. The details of these offers are listed in this credit union promotions page. It's scheduled to end on 9/29/2012.
Below is the promotion's small print:
Open a checking account by 9/29/12. Set up direct deposit for 3 consecutive months prior to 12/31/12 and Members Plus will deposit $100 into your checking account. The deposit will be reflected as interest income in the checking account. **Open a new CD by 9/29/12 and receive a .25% rate increase. Offer applies to new money only. Membership requires a $25.00 deposit into a savings/share account. All rates subject to change.
The CD promotion with the 0.25% rate bump makes the credit union's mid-term and long-term CDs competitive. This boosts the 1.71% APY 5-year CD to 1.96% APY and the 1.31% APY 3-year CD to 1.56% APY. These standard CD rates are listed in the credit union's rates page as of 9/10/2012.
The Members Checking is free with no minimum balances and no monthly service fees. The first order of generic-style checks is free.
Credit union membership is open to anyone who lives, works, or belongs to a religious or social organization located within Middlesex, Norfolk, Plymouth, and Suffolk counties. Please refer to the credit union's membership page for more details. A minimum balance of $25 in the share savings account is required for membership.
Credit Union Overview
Members Plus Credit Union branches are located in the Massachusetts cities of Medford, Dorchester, and Norwood.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 3.51% (excellent) based on March 2012 data. Please refer to our financial overview of Members Plus Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 66706).
Other Credit Union and 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.