Columbia Credit Union is offering a $250 bonus for opening and activating a new Columbia checking account. The offer is listed at the credit union's promotions page as of 8/27/2010. The small print states:
$250 Checking Open new personal Columbia checking and complete all required activity by the last day of the Review Period (three statement cycles including month checking was opened). One checking award per member. Not available to members or signers on any Columbia checking held anytime in the past 12 mos. or currently open. Award is considered interest and will be reported on IRS form 1099-INT.
They don't state the required activity. However, they do state what is required for an active checking account. An active checking account is required to receive their other bonuses for a loan or mortgage. Here is what the small print states regarding an active checking:
Active checking is 1) enroll in free e-statements; 2) make at least two (2) deposits of at least $100 each; 3) make at least six (6) debit card purchases; 4) enroll in free Personal Online Banking and Bill Pay and pay at least two bills; 5) checking is not overdrawn.
Credit for this find goes to FW member juggler451 who posted it at this FW thread. A reader on that thread confirmed that the credit union requires new members to visit a branch in person. Also, he reported being told there's no hard credit inquiry for the checking, and the offer is scheduled to last until 10/31/2010.
Membership is open to anyone who lives or works in Washington State or in Jantzen Beach or Hayden Island, Oregon. Please refer to the credit union's Membership Page for the full details. Membership requires a $5 fee and a minimum balance of $5 in the savings account.
Branches are located in the Washington cities of Vancouver, Battle Ground, Ridgefield and Washougal.
Columbia Credit Union has an overall health score of 3 out of 5 and a Texas Ratio of 41.74% at DepositAccounts.com (see our financial overview of Columbia Credit Union). These ratings are based on June 2010 data. The credit union is federally insured by the NCU (Charter # 68186).