TruNorth Bank's $300 Checking Bonus: A Two-Part Deal for New England Residents

Hey there! If you're in New England and looking for a solid bank bonus, TruNorth Bank has an interesting offer on the table. It's not your typical quick-hitting promotion—this one rewards you twice over the course of a year. The catch? You'll need to stay engaged with the account to get the full $300. Let's break down how this two-part bonus works and whether it's worth your while.

How the Bonus Actually Works

This isn't a single lump sum payment. Instead, TruNorth structures it as two separate $150 bonuses with different timing and requirements.

First, you need to enroll in paperless eStatements (a common requirement these days). Then, within the first 90 days of opening your account, you have a choice for earning the initial $150.

• Option A: Have at least $1,000 in total direct deposits hit your account.
• Option B: Make 25 separate debit card purchases, each for $10 or more.

The Loyalty Bonus: Your Reward for Sticking Around

Here's where it gets interesting. Even after you earn that first $150, there's another $150 waiting if you keep the account active for a full year.

To qualify for this 'loyalty bonus' after 12 months, you must still be enrolled in eStatements. Then, during your final statement cycle before the anniversary, you need to show ongoing activity.

• Path 1: Have an active recurring direct deposit post to the account.
• Path 2: Use your debit card for at least 5 purchases of $10 or more.

Practical Tips for Navigating This Offer

If you're considering this bonus, here's how to approach it strategically. For the initial $150, the debit card route might be easier if you don't have a convenient direct deposit source. You could use it for groceries, gas, or small recurring bills—just make sure each transaction is at least $10 and you hit 25 within 90 days.

For the loyalty bonus a year later, mark your calendar! Set a reminder for month 11 to ensure you complete the final requirements. The 5 debit transactions in your last statement cycle is probably the simpler path if your direct deposit situation changes.

Important Considerations Before You Apply

A few things to keep in mind that aren't immediately obvious. First, this bank was formed from the merger of Abington Bank and North Shore Bank. If you've ever received a checking bonus from either of those institutions in the past, you're likely ineligible for this offer.

Also, while there's no monthly maintenance fee, always check the full fee schedule for things like overdraft charges. The bonus itself will likely be reported on a 1099 form, so remember to account for taxes come filing season.

Bottom Line

• This is a two-tiered bonus requiring activity at account opening and again after 12 months.
• You have flexibility with requirements—direct deposits OR debit card transactions for both bonuses.
• Great for New England residents who don't mind maintaining an account relationship for a year.
• Previous customers of Abington Bank or North Shore Bank who got bonuses are probably excluded.

Common Questions