Service Credit Union is offering a bonus to those who open a new or account and meet certain requirements. This bonus is available through .
How To Earn the Bonus
To earn this bonus, you must first join the credit union and open a . Then, you can qualify for the offer by opening an Everyday or through the promotional page or by mentioning the bonus to a bank teller in person.
Next, set up direct deposit with your new account. You must receive recurring direct deposits for at least 90 days or three months—with at least one deposit per month—to qualify for the bonus.
Your direct deposit totals will determine your bonus. The bonus tiers are as follows:
- $500 bonus: Receive direct deposits totaling at least $1,500 each month.
- $200 bonus: Received direct deposits totaling $500 to $1,499.99 each month.
Activity requirements must be met within 90 days of account opening. After meeting the criteria, your bonus will be deposited into your Primary Savings account within 90 days.
Payroll, Social Security and retirement payments all count as direct deposits.
Those who currently have or have previously had a consumer checking account at Service Credit Union in the past 12 months are not eligible for the bonus. Keep in mind that this bonus is subject to tax, and earnings must be reported to the IRS on Form 1099-INT.
How To Become a Service Credit Union Member
To become a Service Credit Union member, you must meet any of the following criteria:
- Active duty military member, veteran or family member of someone who has served
- Family member of a current or previous employee of the Department of Defense
- Member of one of Service Credit Union’s Select Employer Groups
- Member of the American Consumer Council (ACC)
- Member of the Financial Fitness Association (FFA)
If you meet one of these or are willing to become an ACC or FFA member, you can apply to join the credit union. You will need your Social Security number, driver’s license or government-issued ID and home address, as well as account information for transferring initial funds. You must open a Primary Savings account with a minimum of to finalize membership.
About the Accounts
To earn the bonus, you must open either an Everyday Checking account or a Dividend Checking account. Both accounts offer benefits, but the Everyday Checking account is free compared to the Dividend Checking account, which has a waivable monthly maintenance fee. However, you must have a Primary Savings account to open either of the checking accounts.
Everyday Checking Account
Everyday Checking is a free checking account with three relationship levels: Everyday Checking Basic, Everyday Checking with Direct Deposit and Everyday Checking Direct Deposit+.
- Everyday Checking Basic doesn’t require direct deposit and offers debit card rewards.
- Everyday Checking with Direct Deposit requires monthly direct deposits. It offers early pay, a 0.50% APR discount on some loans and $15 a month in ATM and foreign transaction fee rebates.
- Everyday Checking Direct Deposit+ requires monthly direct deposits and at least five monthly payments or transactions. It offers early pay, a 0.75% APR discount on some loans and up to $30 a month in ATM and foreign transaction fee rebates.
All Everyday Checking users will have access to online banking and overdraft protection.
Dividend Checking Account
The Dividend Checking account has the same benefits tiers as the Everyday Checking account and pays APY. Compared to the best high-yield checking accounts, this rate is quite low. It has a .
Primary Savings Account
To become a Service Credit Union member and get more accounts, you must open a Primary Savings account and deposit at least . Balances from earn APY with this account, competing with some of the best high-yield savings accounts. However, balances only earn APY, which is below the national average savings rate per the Federal Deposit Insurance Corporation (FDIC).
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