[Magnolia, TX In Branch] 5Point Credit Union $200 Checking Bonus

Offer at a glance

• Maximum bonus amount: $200
• Availability: TX
• Direct deposit required: Yes, no minimum 
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown 
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• 5Point Credit Union is offering a $200 bonus when you open a new checking account at the Magnolia branch and complete the following requirements:
  • Receive a direct deposit, no minimum mentioned

The Fine Print

• 200 cash bonus, loan rate discount, and CD rate bump limited to one per person.
• Cash bonus requires a direct deposit from a payroll provider or government benefit.
• The cash bonus will be deposited into the account within 45 days from the date the first direct deposit is posted.
• Cash bonuses are considered taxable income by the IRS and will be reported on IRS Form 1099-MISC.
• This limited-time offer begins July 15, 2024, and may be discontinued at any time without prior notice.
• Insured by NCUA.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Absolutely free checking has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF.

Our Verdict

Should be able to ask in branch if it’s a hard or soft pull before opening the account.

Hat tip to reader Bockrr

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