Addition Financial (FL) Offers $300 Checking Account Bonus


Deal Summary: $300 bonus when opening a new Choice Checking account.

Availability: Residents of 22 Florida counties.

Addition Financial (the former CFE Federal Credit Union) is offering a $300 bonus for new members opening a new Choice Checking account (non-interest bearing). Offer is only valid for “new members who have not been members for at least one year.”

As stated on the Bonus landing page, the following requirements must be fulfilled within 60 days of account opening:

      • Establish at least $500 monthly direct deposit
      • Use debit card ten or more times
      • Must be 18 years or older

The $300 bonus will be deposited into the new Choice Checking account five business days after the requirements are met. If the checking account is closed within 180 days of opening, the bonus will be forfeited.


Headquartered in Lake Mary, Florida, Addition Financial's field of membership (FOM) is community-based with individuals who live, work, worship, attend school or vocational training, or an alumni of any college, university, or educational institution in any of 22 Florida counties, eligible to join:

Alachua, Brevard, Duval, Flagler, Hernando, Highlands, Hillsborough, Indian River, Lake, Marion, Martin, Okeechobee, Pasco, Pinellas, Polk, Orange, Osceola, St. Johns, St. Lucie, Seminole, Sumter, or Volusia.

Immediate family members of a current Addition Financial member are eligible to join, regardless of residency status.

Joining Addition Financial and applying for the $300 bonus can be done online, or at any of 26 Florida branches located in Apopka, Chuluota, Clermont, Eustis, Fern Park, Forest City, Kissimmee (3), Lake Mary, Leesburg, Longwood, Merritt Island, Orange City, Orlando (9), St. Cloud, Sanford, and Winter Garden. Appointments are available and can be scheduled online.

Becoming a member is simple. You don’t have to pass any tests, learn any secret handshakes or survive any hazing rituals. All you need is $5 to open a Share Savings account and $10 for a one-time-only lifetime membership fee.* If you’re a student, we’ll even waive the fee and spot you the five bucks.

*The $10 membership fee is waived as part of the $300 bonus program.

The monthly $7.50 minimum share balance fee will be waived with ANY of the following:

  • An open line of credit, an active credit card, or loan with AFCU;
  • $250 cumulative average daily balance of combined deposit accounts (savings, checking, money market);
  • direct deposit to savings or checking ($500 monthly aggregate requirement);
  • or if you are under age 23.

In addition to participating in the CO-OP Shared Branch and ATM networks, Addition Financial also provides access to no-cost Presto! ATMs at all Publix supermarkets.

Credit Union Overview

Addition Financial has an overall health grade of "A" at, with a Texas Ratio of 1.17% (excellent) based on March 31, 2021 data. In the past year, Addition Financial has increased its total deposits by $359.45 million, an excellent annual growth rate of 19.78%. Please refer to our financial overview of Addition Financial (NCUA Charter # 68702) for more details.

Founded in 1937 as the Orange County Teachers Federal Credit Union, Addition Financial has evolved from a one-county, limited field of membership credit union into an institution offering membership to most of central Florida. More than two years ago, the CFE (Central Florida Educators) Federal Credit Union rebranded as Addition Financial.

“Our new name will better encompass our mission to bring financial success and education to everyone,” CFE Federal Credit Union President/CEO Kevin Miller said. “The word ‘addition’ ties into our legacy of teaching and learning, while also demonstrating our dedication to adding value to our members’ lives.”

Currently, the tenth largest credit union headquartered in Florida, Addition Financial has more than 161,000 members with assets in excess of $2.4 billion.

Bottom Line

When interest rates are low, checking bonuses are more attractive because they offer earnings not available in a liquid account or short-term CD. There aren’t any liquid accounts or CDs that currently return $300 on a $3k deposit (minimum $500 direct deposit) in approximately six months. To earn $300 in a typical online savings account (with a 0.50% APY) would require a $60k balance on deposit for a year.

If you don’t qualify for Addition Financial’s $300 bonus, take a look at our full list of the best savings and checking account bonus offers.

The above information and rates are accurate as of 8/19/2021.

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