- Open a new Free Checking account (minimum $50 deposit).
- Have at least three signature transactions within the first 30 days following account opening.
- Call or visit any branch location to request the 25,000 bonus points.
- Bonus rewards points only available to new checking customers, i.e., individuals who not have closed a Citadel checking account within the last 12 months.
- One offer per household per lifetime.
- To receive the bonus points, customer must contact Citadel in person or by calling 877.780.1615 after fulfilling the requirements.
- Bonus points must be requested within six months of meeting the promotion requirements.
- Bonus points will be awarded within 60 days of confirmation of requirements being met.
- While the FREE checking has no monthly service fee, there is a $15 monthly inactivity fee if there is no activity for 90 days.
Over the past two years, Citadel has had nice rates on a variety of Certificates, with the rates lasting 3-4 months. The most competitive of Citadel’s current offerings is the 60-months Certificate. While some of Citadel’s CDs have three rate tiers based on deposit balances, the 60-months Certificate earns 2.10% APY on all balances. The minimum opening deposit is $500, with no stated balance cap.
|2.10*%||$500||-||Citadel||60 Months CD|
|2.10*%||$500||-||Citadel||60 Months IRA (Traditional, Roth)|
The 60-months Certificate is also available as an IRA (Traditional and Roth) earning the same APY, with the same funding requirements.
When compared to the 311 similar length-of-term CDs tracked by DepositAccounts.com are available to residents of southeast Pennsylvania, Citadel’s 60-Months Certificate currently ranks only eighth, but the mild Early Withdrawal Penalty adds to the Certificate’s intrinsic value.
For a Certificate with a term of more than 12 months, 180 days of interest penalty is assessed.
Headquartered in Exton, Pennsylvania, Citadel offers membership to anyone who lives, works, worships, or attends school in the Pennsylvania counties of Bucks, Chester, Delaware, Montgomery and Philadelphia, and the city of Lancaster, Pennsylvania.
You can also become a Citadel member if a member of your family or household is a member, no matter where you live.
Joining Citadel and/or applying for the $250 checking bonus can be done online, by phone (844.499.0432), or at any of 20 full-service branches located in Audubon, Brookhaven, Chadds Ford, Chester Springs (2), Coatesville, Downington, East Norriton, Exton, Glen Mills, Lancaster, Limerick, Oxford, Paoli, Parkesburg, Phoenixville, Pottstown, Springfield, Thorndale, Warminster, and West Chester.
Credit Union Overview
Citadel (NCUA Charter # 2099) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 2.77% (excellent) based on June 30, 2016 data. In the past year, Citadel has increased its total deposits by $322 million, an excellent annual growth rate of 17.41%. Please refer to our financial overview of Citadel for more details.
Citadel was established in 1937 as the credit union for Lukens Steel Company, the oldest steel mill operating in the U.S. As the story goes, a couple of steel mill workers decided to put a dollar in a tin box every week, and if anyone needed a small loan, they could borrow from the tin box, as long as they agreed to pay it back. From the most humble of beginnings, Citadel has grown into a full-service credit union with more than 173,000 members and assets in excess of $2.6 billion.
How the $250 Checking Bonus Compares
With the only financial investment being the initial minimum $50 deposit and the easy requirement of three signature transactions, the 25,000 bonus points is essentially a gift for opening a new checking account.
Beats getting a toaster.
One possible downside is the customer having the responsibility to inform Citadel when the requirements are fulfilled. If you call, make sure you get the name of the person you speak with, and request a written acknowledgment of your call. If you visit a branch, get a written confirmation.
Another potential downside is the $15 monthly inactivity fee if there is no activity for 90 days.
The above rates are accurate as of 11/14/2016.
Other Bank Promotions and Bonuses
Not eligible for Citadel’s $250 checking bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.