Christian Community Credit Union's $200 Bonus: A Mission-Minded Offer

Looking for a bank bonus that aligns with your values? Christian Community Credit Union has a promotion that might catch your eye—a $200 bonus for opening both a checking and savings account. But before you jump in, let's walk through what this offer actually entails, who's eligible, and whether it's the right move for your financial situation.

What You Need to Do to Get the $200

This isn't a simple 'open an account and get cash' deal. There are specific steps you'll need to follow, and missing any one could mean missing out on the bonus entirely.

First, you'll need to open two accounts: a Harvest Checking account and a Harvest Savings account. The checking account requires a $100 minimum opening deposit, and you'll need to enroll in digital banking and e-statements. For the savings account, you'll need to maintain a balance of $5,000 or more within 30 days of opening it.

The direct deposit requirement applies to the checking account. While the exact qualifying deposits aren't specified on the main page, typical bank bonuses require recurring deposits from an employer, pension, or government benefits. One-time transfers usually don't count.

Who Can Actually Join This Credit Union?

Here's something crucial that many people overlook with credit union offers: membership requirements. Christian Community Credit Union serves—you guessed it—the Christian community.

Eligibility typically extends to members of Christian churches and denominations, along with their families. This includes students, ministers, alumni, and relatives of current members. Before you get excited about the bonus, check if you meet their membership criteria. The application process will verify this.

Timing and Patience Are Key

Bank bonuses rarely pay out instantly, and this one is no exception. The checking bonus takes up to 60 days to hit your account after you've met all requirements, while the savings bonus could arrive within 30 days.

Mark your calendar for that six-month rule too. If you close either account within six months of opening, they'll take the bonus back. This is standard practice, but it's easy to forget when you're juggling multiple accounts.

Practical Considerations Before You Apply

Let's talk about the fine print that doesn't always make it to the promotional headlines. First, the credit union will check ChexSystems, which is standard for bank accounts. If you've had banking issues in the past, this might be a hurdle.

Also worth noting: while the checking account has no monthly fee, the savings account might have balance requirements to avoid fees after the promotional period. Always check the latest fee schedule.

One interesting feature is that using their Visa debit card for signature purchases supports missions work. If aligning your spending with your values matters to you, that's a nice perk beyond the bonus.

• The $5,000 savings requirement is substantial—make sure you're comfortable parking that much money there
• Consider whether you'll actually use these accounts beyond getting the bonus
• Remember the bonus is taxable—set aside some for tax time

When This Offer Makes Sense (And When It Doesn't)

This bonus works well if you already meet membership requirements and were planning to open new accounts anyway. The $200 for moving $5,100 ($100 checking + $5,000 savings) represents about a 3.9% return on that money over a short period, which isn't bad.

However, if you're just chasing bonuses and don't naturally qualify for membership, or if tying up $5,000 for 30 days strains your finances, there might be better options. Also, if you prefer online-only banking with higher interest rates, this traditional credit union might not be your best long-term home.

Bottom Line

• Verify your eligibility for membership before starting the application
• The $5,000 savings balance requirement is a significant commitment—plan accordingly
• Set reminders for the direct deposit, e-statement enrollment, and six-month account minimum
• Don't forget about taxes—this $200 will count as interest income

Common Questions