Widget Financial Credit Union (formerly Erie General Electric Credit Union) is offering a $77 bonus for opening a new free checking account. Unfortunately, the credit union’s reward checking account (HD Checking) doesn’t qualify for the bonus. The bonus requires that the you open a new Free Checking account with direct deposit of net pay. Offer is valid through 5/31/2013. After 5/31/2013, the offer amount will be reduced to $25. The promo code is WIDGE-TEDDM-7774. Thanks to the DA member 51hh who mentioned this promo and credit union name change in the forum.
The details are listed in the credit union’s offers page. The small print is hard to read, so I copied it below:
Must be a member of Credit Union to take advantage of the offer. Membership eligibility required. $77 incentive only valid when opening a new Free Checking account with direct deposit of net pay. Offer excludes HD and Experience Checking. Incentive payment will occur after direct deposit is paid into the account and 60 days has elapsed. One incentive per SSN. No-purchase necessary; offer subject to credit approval. Offer subject to change without notice. Offer valid through 5/31/13. After 5/31/13 offer amount will be reduced to $25. Must have promo code printed on this mailer to redeem offer. Contact Credit Union for complete program details. Account opening incentives may be reported as taxable income. Credit Union will provide an IRS form 1099 to qualified participants. Federally Insured by NCUA.
Credit union membership is open to everyone who live, work, worship, volunteer, or attend school or regularly conduct business in Erie or Crawford counties of PA. Please refer to the credit union’s membership page for more details.
Even though the HD Checking account doesn’t qualify for this promotion, you may still want to consider this account. It has a long history as a top reward checking account. I first reported on it in 2008 when it had a 5% APY for balances up to $25K. The rate has fallen, but it’s still a good deal compared with other reward checking accounts. It now pays 3.04% APY for up to $25K as of 5/13/2013. Account details are listed in the credit unions HD Checking page.
The credit union just recently changed its name from Erie General Electric Credit Union to Widget Financial Credit Union. It has been common for credit unions to distance themselves from companies. As the credit unions expand their fields of membership, they don’t want to sound like they only serve one company.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 3.21% (excellent) based on December 2012 data. Please refer to our financial overview of Widget Financial Credit Union for the full details. The credit union is federally insured by the NCUA (Charter # 1117).
Other Credit Union and Bank Bonuses
We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.