Snag $100 from Connections Credit Union: A Simple Idaho Checking Bonus

Hey there! If you're in Idaho and looking for a straightforward way to pocket a little extra cash, Connections Credit Union has a promotion that might catch your eye. It's a $100 bonus for opening a checking account, and the requirements are pretty clear-cut. No direct deposit needed, which is a nice change of pace from a lot of other bank offers. But, as with any financial move, it's smart to look before you leap. Let's break down what this offer really involves and whether it's a good fit for you.

Who Can Actually Get This Bonus?

First things first: you need to be eligible to join this credit union. Membership is primarily based on geography. You'll need to live, work, worship, or attend school in one of their many served counties in Idaho. This includes places like Ada, Bannock, Canyon, and Twin Falls, among others. Family members of those who qualify are usually eligible too.

It's always best to double-check directly with the credit union using their membership details page to confirm your status before you get your heart set on that hundred bucks.

Your Step-by-Step Game Plan for the $100

Okay, so you're eligible. Here's exactly what you need to do to trigger the bonus payment. The clock starts ticking once your account is open.

• Become a member and open a Kasasa Checking account.
• Sign up for electronic statements (e-Statements) – say goodbye to paper mail.
• Use your new debit card to make at least 12 separate purchases. Each one needs to be $5 or more. Think coffee runs, gas, or small grocery trips.
• Your total spending across all those transactions needs to hit at least $120. This should happen naturally if you're hitting the 12-purchase mark.
• You have to complete all of this within your first two full statement cycles after opening the account. Don't procrastinate!

The Fine Print You Really Need to Consider

This is where we get into the practical advice. The lack of a monthly fee is a huge plus – you won't have to worry about jumping through hoops to keep the account free later on. However, there are a couple of potential downsides to weigh.

The biggest one for many people is the credit check. Connections Credit Union may perform a hard inquiry on your credit report when you apply. This can temporarily ding your credit score by a few points. If you're planning to apply for a major loan like a mortgage or auto loan very soon, you might want to skip this offer.

Also, remember that the IRS considers most bank bonuses as taxable income. You'll likely receive a 1099-INT form, and you'll need to report that $100 on your next tax return. It's not a deal-breaker, but it's good to be aware so you aren't surprised later.

Finally, while the bonus is generous, this might not be the account for you if you're primarily looking to grow savings. Their savings and CD rates aren't known for being top-tier, so consider this a transactional checking account for the bonus, not a long-term savings hub.

Bottom Line

• A solid, low-effort bonus for Idahoans who use their debit card regularly.
• The potential hard credit pull is the most significant drawback to evaluate.
• Perfect if you want a free checking account and can meet the spending requirements naturally.
• Treat the bonus as found money, but remember to account for it at tax time.

Common Questions