Sound Credit Union (Sound) continues to offer its long-standing $100 cash bonus promotion when opening a new checking account. Sound has five different checking accounts (Free, Plus, Advantage, High-Yield, and Visions) and all five qualify for this promotional bonus.
|0.20*%||$50k||-||Sound Credit Union||High-Yield Checking|
|0.05%||$1k||-||Sound Credit Union||Plus Checking|
|0.05%||$1k||-||Sound Credit Union||Advantage Checking|
|0.05%||-||-||Sound Credit Union||Visions Checking|
Qualifying for the $100 Bonus is quite simple:
- Open a new Sound Credit Union checking account.
- Have a monthly payroll direct deposit of at least $250.
- Receive $100.
Since I last wrote about this $100 Bonus in January 2013, Sound has changed one important detail. At that time, the bonus was not available to members who had a checking account within the past 12 months. The fine print now reads:
Cannot have had a checking account in the past.
- Direct deposit must begin with 90 days of account opening.
- Bonus will be paid on the first business day of the month following the third direct deposit.
- Limit of one bonus per member.
- $10 termination fee if account is closed within first 90 days.
With no monthly service and no minimum balance requirements, Sound’s Free checking account is probably the best option. Complete details on the Free, Plus, Advantage, High-Yield, and Visions checking accounts can be found the Personal Checking page.
Headquartered in Tacoma, Sound Credit Union offers membership to anyone to meets one of the following requirements:
Residency - Live in Washington State.
Employment - Work in Washington State or for one of Sound’s SEGs.
Relationship - Have a direct relative who is a current member or eligible for membership.
Joining Sound Credit Union and opening a checking account requires an in-person visit to any of 21 Washington branches located in Auburn, Bellevue, Bonney Lake, Burien, Federal Way, Gig Harbor, Kent, Lakebay, Lakewood, Lynnwood, Olympia, Puyallup, Redmond, Seattle (2), Shoreline, Tacoma (4), and Tukwila.
The Membership Application is available for download to expedite the process.
Credit Union Overview
Sound Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 1.27% (excellent) based on March 31, 2015 data. In the past year, Sound Credit Union has increased its total deposits by $57.75 Million, an excellent annual growth rate of 5.97%. Please refer to our financial overview of Sound Credit Union for more details.
Sound Credit Union (NCUA Charter # 66331) is the 7th largest credit union in Washington. Established in 1940 as the Tacoma Telco Credit Union with an initial deposit of $106.50 from 51 Pacific Telephone and Telegraph employees, Sound has grown to over 105,000 members and assets in excess of $1.1 Billion. The impressive growth is a result of a field of membership expansion and the mergers with Watermark Credit Union (March 2011) and Port of Seattle Federal Credit Union (effective October 2015).
How Sound Credit Union’s $100 Checking Account Bonus Fares
There really doesn’t seem to be a down side to this promotional offer:
1) If a no minimum balance, no monthly fee, and no minimum transaction Free checking account is opened, and
2) If at least $250 in a direct deposit is made within 90 days of account opening, and
3) If the account is left opened for at least 90 days,
You’ve gained $100 with little effort and very little investment.
Other Bank Promotions and Bonuses
Not eligible for the Sound Credit Union’s 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 Deals Forum.