Update 12/10/23: Deal is back, no end date.
Update 12/3/22: Deal is back and valid until December 31, 2022. Hat tip to reader Bockrr & alopez14
Offer at a glance
Maximum bonus amount: $200
Availability: Long beach location
Direct deposit required: Optional
Additional requirements: See below
Hard/soft pull: Soft pull
Credit card funding: Unknown
Monthly fees: $5, avoidable
Early account termination fee: 6 months, bonus forfeit
Expiration date: December 31, 2022
The Offer
Southland Credit Union is offering a bonus of $200 when you open a checking account at their Long Beach location and complete the following requirements:
Establish direct deposit into your Long Beach Checking Account with an amount of $200 or more, OR,
Utilize our Bill Pay service to pay at least one recurring bill using your Long Beach Checking account.
The Fine Print
$200 reward will be deposited to the Long Beach Checking account on the next available business day upon receipt of first direct deposit or first bill payment made.
Qualifications must be met within the first 90 days of account opening to qualify for rewards.
Qualifications include direct deposit of at least $200 or recurring use of ePay/Bill Pay, and the Long Beach Checking Account must maintain a positive balance.
If these qualifications are not met within the first 90 days of account opening, rewards will not be paid.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fee $5
There is a $5 monthly fee, this is waived with Direct Deposit or Use of Bill Pay every month.
Membership Fee $15
This is waived if you open the account with an initial deposit of $25 or more. You also need to work for one of the participating employers or live, work, worship or attend school in the following areas: Orange County, Artesia, Bellflower, Brentwood, Cerritos, Culver City, Downey, Downtown & West Los Angeles, Hawaiian Gardens, La Habra Heights, La Mirada, Lakewood, Long Beach, Marina Del Ray, Mar Vista, Norwalk, Pacific Palisades, Paramount, Santa Fe Springs, Santa Monica, Signal Hill, Venice. You can also join if you have an immediate family member who is already a member.
Early Account Termination Fee
6 months, bonus forfeit
Our Verdict
There is a more widely available bonus, but that is only for $175 and there are more requirements. Will add this to the highly location restrictive bonus section of the best bank bonus page.
Hat tip to Natanael
Useful posts regarding bank bonuses:
A Beginners Guide To Bank Account Bonuses
Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
PSA: Don’t Call The Bank
Introduction To ChexSystems
Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
What Banks & Credit Unions Do/Don’t Pull ChexSystems?
How To Use Our Direct Deposit Page For Bank Bonuses Page
Common Bank Bonus Misconceptions + Why You Should Give Them A Go
How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
Affiliate Links & Bank Bonuses – We Won’t Be Using Them
Complete List Of Ways To Close Bank Accounts At Each Bank
Banks That Allow/Don’t Allow Out Of State Checking Applications
Bank Bonus Posting Times