While many recurring checking account bonuses have specific start and end-dates (usually spanning a couple of months), Northwest Savings Bank’s MyNorthwest Checking bonus (up to $200) has been continuously available for several years. As I was going through my list of current bonuses, I realized that I hadn’t written about this particular bonus since April 2015 – time for a new blog post.
The $200 MyNorthwest Checking account bonus is actually two $100 bonuses, with the first $100 associated with direct deposit and the second $100 paid after the account has been opened for a year.
MyNorthwest Checking Bonus Requirements
- Within 6 months of Account opening, two ACH Direct Deposits of at least $200 must be deposited into the MyNorthwest checking account by an employer or other outside source.
- First $100 bonus will be posted within 14 calendar days of the second Direct Deposit. Eligibility to receive the first $100 bonus expires six months from account opening.
- Second $100 bonus will be paid within 14 calendar days after the one-year anniversary of the MyNorthwest checking account being opened, if 1) the first bonus was paid, and 2) two Direct Deposits were received within two months prior to the one-year anniversary date.
- Customers who have had an open checking account within six months of opening a new MyNorthwest Checking account are not eligible for the bonus.
- Limit of one $200 bonus per account.
- MyNorthwest Interest Checking accounts do not qualify for this promotion.
- Employees of Northwest Savings Bank and affiliates are not eligible for this promotion.
The MyNorthwest Checking account has no minimum balance requirements or no monthly service charge, but does require a minimum $50 deposit to open.
Headquartered in Warren, Pennsylvania, Northwest Savings Bank’s market area covers portions of Maryland, New York, Ohio, and Pennsylvania, stretching from the Lake Erie coastline, through western and central Pennsylvania, to the Baltimore area.
As stated on the online application, "All residents of the United States that are within the Northwest market area are welcome to apply for an account."
Northwest Savings Bank (FDIC Certificate # 28178) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 7.25% (excellent), based on September 30, 2016 data. In the past year, Northwest Savings Bank has increased its total non-brokered deposits by $1.55 billion, an excellent annual growth rate of 22.8%. Please refer to our financial overview of Northwest Savings Bank for more details.
Northwest Savings Bank was established in 1896 as the Northwest Mutual Savings Association. For 87 years, the Bank concentrated its market area in northwest Pennsylvania, but starting in 1983 began an aggressive expansion that led to the acquisition of 21 banks in 32 years. Today, Northwest Savings Bank is the third largest bank in Pennsylvania with assets in excess of $9.7 billion and more than 706,000 customer accounts.
Other Bank Promotions and Bonuses
Not eligible for the MyNorthwest Checking bonuses? 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.