Update 9/25/23: Deal is now $500.
Update 7/12/23: Bonus now $400
Update 3/1/23: Bonus is now $500. Still worth doing.
Update 1/10/23: Looks like all it’s actually available nationwide with a membership to The American Consumer Council (free to join). Hat tip to reader Beltway
Update 1/8/23: Bonus has been increased to $518. Hat tip to reader Diego
Offer at a glance
Maximum bonus amount: $200
Availability: VA
Direct deposit required: Yes, $250+
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown, sensitive
Credit card funding: Up to $500
Monthly fees: None
Early account termination fee: Unknown
Household limit: None listed
Expiration date: 12/31/2021 12/31/2022 2.28.23
The Offer
United States Senate Federal Credit Union is offering a bonus of $200 when you become a member of USSFCU. Bonus is broken down as follows:
$100 – Open a Senate Checking Account and make five $5 debit transactions within 30 days
$100 – Receive two “qualifying direct deposits” of $250 or more within 60 days
$100 – Deposit $2,000 into a Money Market Account (APY 1.25%) and hold for 6 months
$200 – Deposit $5,000 into a Share Certificate (APY 3.98%) of 24 months or more
The Fine Print
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account 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
It looked like this might be nationwide, but you need to join the VA American Consumer Council chapter rather than the nationwide one. Bonus itself is pretty average to good and worth doing, will add this to our list of the best bank account bonuses.
Hat tip to Bertrand
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
Post history:
Update 4/17/22: Deal is back and valid until 12/31/2022.
Update 1/22/22: Deal is back and extended until 03/31/2022.