Score Up to $500 with St. Mary’s Bank: A Two-Part Bonus That's Easier Than It Sounds

If you've been thinking about switching banks or just want to pad your emergency fund with a quick bonus, St. Mary’s Bank has an offer that might catch your eye. They're the nation's first credit union, and they're offering up to $500 for new members who open both a checking and savings account. The best part? You don't need to live in New Hampshire to take advantage—this deal is available nationwide.

How the $500 Bonus Breaks Down

This isn't a single lump sum—it's two separate bonuses that stack together. First, you'll get $300 for opening a checking account and a savings account at the same time, then setting up a recurring direct deposit of at least $1,000 within 90 days. That's the easier half.

The second $200 bonus requires a bit more commitment. You'll need to fund your new savings account with at least $2,000 in fresh money (not money already at St. Mary’s), keep a $2,000 average daily balance for six months, and set up a $25 monthly recurring deposit into that savings account. It's doable, but you'll want to make sure you can park that cash for half a year.

• $300: Open checking + savings with code GET500, then $1,000+ in direct deposits within 90 days.
• $200: Fund savings with $2,000+ new money within 30 days, maintain $2,000 average balance for 6 months, and add $25 monthly recurring deposit.
• Bonuses are deposited into your savings account after all conditions are met.

What to Watch Out For

The fine print has a few gotchas worth noting. First, if you've had a St. Mary’s Bank checking account in the last 90 days—even as a joint holder—you're not eligible for the $300 bonus. This is aimed at new checking customers only.

Also, the direct deposit requirement is strict. Transfers from PayPal, Venmo, Zelle, or even transfers from your own accounts at other banks won't count. It has to be recurring income like a paycheck, pension, or government benefits. And you need at least two direct deposits totaling $1,000 within 90 days.

For the savings bonus, the $2,000 must be "new money"—not funds already sitting in a St. Mary’s account. And you can't just deposit it and forget it; you need that $25 monthly recurring deposit and the $2,000 average balance for six full months. Miss any one of those, and the $200 bonus disappears.

A Few Extra Perks Worth Mentioning

Beyond the bonus, St. Mary’s Bank offers some nice features. You can get your paycheck up to two days early with direct deposit, and there's a referral program where you and a friend can each earn up to $250. They also have a Rainy Day Savings account that pays 7.00% APY on balances up to $500.99—not bad for a little extra savings.

Monthly fees are nonexistent for the basic checking and savings accounts, so you won't lose your bonus to maintenance charges. Just keep an eye on the fine print for other account types if you decide to explore beyond the offer.

Bottom Line

• You can earn $500 total by opening both a checking and savings account with the code GET500.
• The $300 checking bonus requires $1,000+ in direct deposits within 90 days.
• The $200 savings bonus needs $2,000 new money, a $2,000 average balance for 6 months, and $25 monthly deposits.
• This offer is available nationwide, but you must be a new checking customer (no account in the last 90 days).
• Bonuses are paid into your savings account within 30 days of meeting all requirements.

Common Questions