Sound Credit Union has long been offering a $100 bonus for opening one of its checking accounts and establishing direct deposit of at least $250 per month. One small change in the qualifications since my last report is that the member must not have had a checking account at Sound in the last 12 months. This offer is listed in the credit union's checking promo page as of 1/15/2013. No expiration date is mentioned. Here's the small print of the offer:
Requires Sound membership and savings account with minimum $25 balance. Must meet qualifying criteria to open checking account. Offers may change at any time. $100 Bonus: A new minimum $250 monthly recurring direct deposit to a new primary consumer checking account is required. Cannot have had a checking account in past 12 months. Bonus paid on first business day of the month following third direct deposit. Direct deposit must begin within 90 days of opening account. One bonus per member and may be reported on form 1099-INT.
Sound's free checking account qualifies for the promotion. It has no monthly service charge or minimum balance requirement. One nice perk is free checks. Another perk is that it allows one free overdraft every year.
$100 Visa Credit Card Promotion
Sound Credit Union also has a promotion for its Visa credit cards. Open a new Visa credit card and receive $100 instant credit. You can get this $100 bonus quicker than the checking account bonus. However, the downside with all credit card applications is a hard credit inquiry. This offer is listed in the credit union's Visa promo page as of 1/15/2013.
Membership is open to anyone who lives or works in Washington State or has a family member who has an account with Sound or who is eligible to join. Please refer to the credit union's Join-Us Page for the full details. Membership requires a minimum $25 balance in the savings account.
Credit Union Overview
Sound Credit Union branches are located in several Washington cities from Seattle to Olympia. Sound is also part of the shared branch network, CU Service Centers, which allows members to conduct many banking transactions at branches at other credit unions around the nation.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 6.17% (excellent) based on September 2012 data. Please refer to our financial overview of Sound Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 66331).
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.