Score Up to $250 with CommunityAmerica Credit Union's New Checking Offer

Looking for a straightforward way to pad your savings? CommunityAmerica Credit Union is currently offering a chance to earn up to $250 just by opening a new checking account and completing a few simple tasks. If you live in Northwest Arkansas or select California counties, this could be a no-brainer.

How the Bonus Breaks Down

The $250 is split into three parts, so you don't have to do everything at once. First, you'll get $150 just for opening a qualifying checking account and getting a Visa debit card. That's pretty much automatic.

Next, set up a direct deposit of at least $500 per month within 60 days of opening, and you'll earn another $50. Finally, use your debit card for purchases of $5 or more in the first 60 days, and you'll get $1 per transaction, up to $50. So if you make 50 small purchases—think coffee runs or gas stops—you'll max out that last piece.

All bonuses are deposited into your share savings account between 60 and 90 days after you open the account. Keep in mind, you'll owe taxes on this, since it's treated as income.

Who Can Apply and What to Watch For

This offer is open to new members living in Northwest Arkansas or the California counties of Los Angeles, Orange, or Ventura. You also need to be a new member—meaning you haven't had a CommunityAmerica membership in the past three years. If you previously had an account with Unify Credit Union (which CommunityAmerica acquired), check if that counts. The fine print says membership eligibility applies, so you'll need to open a savings account with at least $1.

One big thing: there's a $25 early account closure fee if you close your account within six months. You'll also forfeit the bonus if you close early. So plan to keep the account open for at least half a year.

Also, this offer excludes Turning Point Checking and Student Checking, so make sure you're signing up for the right account type.

Extra Perks Beyond the Bonus

CommunityAmerica isn't just about the sign-up bonus. The checking account comes with no monthly fees and no minimum balance. You also get 4% cash back on the first $500 of monthly purchases for the first 12 months, which is a nice ongoing reward. Plus, you can use over 30,000 ATMs in the CO-OP Network for free.

And there's the annual Profit Payout—the credit union shares its profits with members, which can mean extra cash each year. Over the past 13 years, they've returned $100 million to members.

Bottom Line

• You can earn $250 by opening a checking account, setting up direct deposit, and using your debit card.
• No monthly fees, but watch the 6-month early closure penalty.
• Bonus posts 60-90 days after account opening; taxes apply.

Common Questions