Snag a Quick $100 from 7 17 Credit Union – Here's How

If you live in Northeast Ohio and have been thinking about switching banks, here's a nice little incentive. 7 17 Credit Union is offering a $100 bonus for opening a new primary checking account. The offer runs through August 31, 2024, and the requirements are pretty straightforward. You don't even need a direct deposit if you'd rather use your debit card. Let's break it down.

Who Can Join?

7 17 Credit Union serves folks in Northeast Ohio. If you live, work, worship, or attend school in Trumbull, Mahoning, Columbiana, Portage, Summit, or Central Stark counties, you're eligible. Not in those areas? No worries — any Ohio resident can join through the American Consumer Council at no cost. You'll need to open a savings account with a $5 minimum deposit to become a member, then you can open the checking account.

How to Earn the $100

First, open a new primary checking account between June 17 and August 31, 2024. You'll need to put in at least $25 to get started. Then, you have two paths to meet the bonus requirements:

Path A: Set up one recurring direct deposit of at least $200 per month from your payroll, pension, or Social Security. This needs to be a regular, automated deposit — not a one-time transfer.

Path B: Make 30 debit card point-of-sale transactions within 90 days of opening the account. These must be signature-based (select "credit" at checkout) to count. Swipe your card for everyday purchases like gas, groceries, or coffee, and you'll hit 30 in no time.

Whichever path you choose, you also need to sign up for eStatements. That's it. Once you've completed the requirements, the $100 will be deposited into your savings account within 90 days.

Which Checking Account Should You Pick?

7 17 offers three checking accounts. The Free WOW Checking and Free Checking have no monthly fees, so they're great for this bonus. The Free WOW Checking even pays dividends and refunds up to $25 in ATM fees each month if you meet certain conditions. The Benefits Plus Checking costs $7.95 a month but comes with extra perks like identity theft protection and travel discounts. For the bonus, I'd stick with one of the free options.

Things to Watch Out For

This bonus is taxable — the credit union will send you a 1099-INT for the $100. Also, the bonus is one-time and non-transferable. If you closed a checking account with 7 17 within the last two years, reopening it won't qualify for the bonus. Make sure you complete the requirements within 90 days of opening the account, and don't forget to enroll in eStatements. Finally, the bonus goes into your savings account, not your checking account, so keep that in mind.

Bottom Line

• Easy $100 for opening a checking account with no monthly fee.
• Two ways to qualify: direct deposit of $200/month or 30 debit card swipes.
• Offer ends August 31, 2024 — don't wait too long.
• Must be an Ohio resident or meet membership criteria.

Common Questions