Here's a bank bonus that feels a little different from the usual 'open an account and move money around' offers. Coastal Credit Union, a sizable North Carolina-based institution, is currently running a promotion where they'll pay you $100 to learn about personal finance. The twist? It's available to both new customers opening a checking account and existing members who already have one. If you're in North Carolina and have some time before Halloween, this could be a straightforward way to earn a bit of extra cash while picking up some financial tips.
What You Actually Need to Do
The core of this offer is refreshingly simple. You need to finish four online financial literacy courses provided by Everfi. The promotion materials call them 'simple' courses, which suggests they shouldn't be overly time-consuming or complex.
If you're not already a Coastal member, your first step is to open a checking account. Membership is generally open to North Carolina residents, often through joining a partner organization like the North Carolina Sustainable Energy Association (which may involve a small fee). If you're already a checking account holder, you can jump right into the courses.
The Fine Print and Practical Considerations
As with any financial offer, the devil is in the details. The bonus will be deposited into your account within a month of you finishing the last course. The official rules will govern everything, so it's crucial to read them before you start.
A couple of important unknowns popped up when researching this. It's unclear if opening a new account triggers a hard credit check (which can affect your credit score) or just a soft inquiry. The bank's use of ChexSystems (a reporting agency for bank accounts) is also not specified. For people who open new accounts frequently, these are worth investigating directly with the credit union before applying.
- Read the official terms and conditions PDF thoroughly.
- Consider contacting Coastal directly to ask about credit checks (hard vs. soft pull) and ChexSystems if you're concerned.
- The offer ends on October 31, 2024, so you need to complete the courses by then.
Is This a Good Deal For You?
This promotion stands out because it rewards financial education rather than just moving a large sum of money. For an existing Coastal member, it's essentially free money for a bit of your time. For a new customer, you're getting $100 for opening an account and learning some potentially useful financial concepts—a nice two-for-one.
However, it's geographically limited to North Carolina. Also, while the bonus is nice, note that Coastal's savings and CD rates might not be the most competitive nationally, even though they claim their CDs are multiples of the national average. If you're primarily looking for a high-yield savings home for your cash long-term, you might want to keep that in mind after you collect the bonus.
Bottom Line
- A unique bonus that pays you to learn, available to both new and existing customers.
- No direct deposit or large balance requirements make it very accessible.
- Act quickly—the window to complete the courses closes October 31st.
- Perfect for North Carolina residents looking for a low-effort account bonus.
Common Questions
Do I need to be a new customer to get the $100?
No, that's the great part. The offer is explicitly for both new checking account customers and existing ones. If you already have a Coastal checking account, you can just log in and start the courses.
How long do the financial courses take?
The source material describes them as 'simple' courses, but the exact time commitment isn't specified. It's wise to factor in a few hours total to complete all four comfortably before the deadline.
Are there any monthly fees on the checking account?
For the basic checking accounts mentioned in relation to this offer, there typically are no monthly fees, which is a plus for keeping the account open after you get the bonus.
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