I love credit unions.
In fact, my first “bank account” was at a credit union – Teachers Federal Credit Union. I qualified because my mom worked for our school system and that was a way to gain membership.
Back then, we didn’t have a bonus or any enticement. We just walked in, opened a share draft account, and walked out with a piece of paper with our details and a checkbook.
If you’ve been looking at credit unions and want to get one that will give you a bonus, PSECU might be up your alley.
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Who is PSECU?
PSECU stands for the Pennsylvania State Employees Credit Union and they are an NCUA insured credit union (NCUA #64131) that was founded in 1934. Having gone to college in Pittsburgh, I’m familiar with the working class culture that is much of Pennsylvania and their founding story resonates with that history.
It was founded by 22 state workers looking for a better way to bank and so they formed a credit union in 1934. Since then, they’ve grown to more than half a million members and included more groups than state employees.
If you’re wondering how you can qualify without being in one of the groups, anyone outside of Pennsylvania can qualify when they join the Pennsylvania Recreation and Park Society (PRPS). PSECU will even cover the $20 dues for joining and it’s part of their onboarding process. You don’t have to get the membership separately.
How to get $300 from PSECU
The PSECU $300 bonus promotion is really easy to get.
There are three stages and you get $100 for each stage:
Level 1 – Join PSECU by clicking this link to visit the site and joining them using the promo code LEVELUP. Once you’ve joined, add a free checking account ($5 minimum deposit) with a debit card and log into digital banking within 30 days to get the $100 bonus. Finally, activate your debit card.
Level 2 – Establish one or more qualifying payroll direct deposits that together total $200 per calendar month, all within 90 days of establishing membership.
Level 3 – Maintain the qualifying payroll direct deposit(s) for 90 days after initial deposit.
One caveat, and this is true of most credit unions, PSECU will do a hard inquiry of your credit – which will slightly lower your credit score.
You cannot have received a new member incentive bonus in the last 12 months.
See terms and conditions at go.psecu.com/levelup. also see below*
(Offer expires 12/31/2023)
Previous PSECU Promotion Codes
- For the period ending 12/31/2022, the $250 offer’s promotion code was UPTO250PROMO
- For the period ending 12/31/2023, the $300 offer’s promotion code was LEVELUP
How Does This Offer Compare?
We don’t often share many credit union bonuses because the membership requirements can be difficult to meet. However, PSECU makes it easy to join because they automatically get you membership into a qualifying group (PRPS). So in that regard, it’s no different than opening a bank account at a commercial bank.
As for the bonus terms, it’s great (especially compared to other credit union bonuses). It’s tiered so you get $100 just for opening an account an additional $150 when you establish a qualifying direct deposit of just $200.
See for yourself, here are some of the more popular bank bonuses right now:
⭐Citi Priority Account – up to $2000
Citi Priority is offering up to $2000 bonus when you open an account by 1/9/2024. Then, within 20 days of opening your account, deposit at least $10,000 in New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $10,000.
Discover Online Savings Account – $150 or $200
Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH923 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.
Bank of America – $200 Bonus Offer
Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $200
Chase Bank will give you $200 when you open a Total Checking account and set up and receive a direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
*Level Up – Up to $300 Bonus Terms and Conditions
From 1/1/2023 to 12/31/2023, PSECU is running a new member incentive bonus. To receive up to $300, new members must sign up with a promotional code and satisfy each of the requirements listed below. PSECU will deposit member incentive bonus into the Regular share within 45 days after the requirements are satisfied. Promotion open to U.S. Residents who are 18 years of age or older at the time the account is opened. Limit one (1) new member Level Up bonus per tax identification number used to open a new PSECU account. You will not be eligible for the Level Up bonus if you are a current PSECU member, have closed an account within the past 12 months, or have received a previous new member incentive bonus within the past 12 months. Members who open accounts and/or loans by fraudulent, suspicious, or illegal means, including but not limited to providing PSECU with fraudulent or fabricated information, are not eligible to participate in this bonus offer. PSECU may adjust the deposited bonus or remove the deposited bonus at any time if PSECU suspects accounts and/or loans were opened by fraudulent, suspicious, or illegal means, including but not limited to providing PSECU with fraudulent or fabricated information. $5 is required to open and maintain a Regular share account. This $5 share deposit is also required to be eligible to receive the $300, and the member must be in good standing as defined by PSECU’s Bylaws Article II, Section 1. A $5 minimum share purchase will be made on behalf of the new member by PSECU. If the member account is closed within the first year of membership, the initial $5 share will be retained by PSECU. The Annual Percentage Yield on PSECU’s Regular share account is 0.50%. This variable rate is current as of 2.1.23 and may change. Withdrawals and fees may reduce earnings on the account. The recipient of the bonus (up to $300) is solely responsible for payment of applicable taxes on that amount. If you have any questions, please seek the advice of a qualified tax professional. All decisions of PSECU regarding this promotion are final. PSECU may terminate or change the terms and conditions of this promotion without notice. Subject to all applicable federal, state, and local laws and regulations. See to learn more.
$100 Checking Bonus Requirements
You must be approved for savings and checking accounts, a PSECU debit card, and digital banking (online or mobile) account access and activate your debit card and log into digital banking within 30 days of establishing membership.
$100 Direct Deposit Set Up Bonus Requirements
You must meet the requirements of the $100 Checking Bonus and establish one or more qualifying payroll direct deposit(s) that together total $200 per calendar month, within 90 days of establishing membership. Qualifying payroll direct deposits are defined as paychecks, Social Security payments, and pension payments.
$100 Direct Deposit Bonus Requirements
You must meet the requirements of both the $100 Checking Bonus and $100 Direct Deposit Set Up Bonus and maintain the qualifying payroll direct deposit(s) for a minimum of 90 days after the first qualifying payroll direct deposit.