[CA Only] $175 Southland Credit Union Checking Bonus

Offer at a glance

• Maximum bonus amount: $175
• Availability: CA Only
• Direct deposit required: Optional (+$50), unsure what triggers this requirement
• Additional requirements: Yes, see below
• Hard/soft pull: Soft pull
• Credit card funding: Unknown
• Monthly fees: $5, avoidable
• Early account termination fee: None Listed
• Expiration date: None Listed

The Offer

Direct link to offer

• Earn up to $175 by completing the following requirements:
  • $50: Open a Cash Rewards Checking account and receive a direct deposit or Southland ePay
  • $10 per month for the first year: Make ten debit card purchases per month and use ePay once per month
  • $5 per year: Opt out of paper statements

The Fine Print

• Must be a new Southland Credit Union checking account member (although they can convert their existing accounts to Cash Rewards and receive the debit card and paper statement bonus)
• Direct deposit/ePay bonus will be deposited at the end of the month in which the first direct deposit or payment is made
• Limited to one promotion per account
• Offer is subject to change at any time
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fee $5

There is a $5 monthly fee, this is waived with Direct Deposit or Use of Bill Pay every month.

Membership Fee $15

This is waived if you open the account with an initial deposit of $25 or more. You also need to work for one of the participating employers or live, work, worship or attend school in the following areas: Orange County, Artesia, Bellflower, Brentwood, Cerritos, Culver City, Downey, Downtown & West Los Angeles, Hawaiian Gardens, La Habra Heights, La Mirada, Lakewood, Long Beach, Marina Del Ray, Mar Vista, Norwalk, Pacific Palisades, Paramount, Santa Fe Springs, Santa Monica, Signal Hill, Venice. You can also join if you have an immediate family member who is already a member.

Click here to see if you’re eligible.

Cash Rewards Checking $0 Monthly Fees

There are no monthly fees associated with the cash rewards checking account.

Early Account Termination Fee

As far as we could see there is no early account termination fee, you’d want to keep this account open for at least a year to get the full rewards anyway. Just keep in mind there is an inactivity fee of $7.5 per quarter if you have less than $1,000 in deposits and the account isn’t used (important to note if you plan on keeping the account open for the annual $5 bonus).

Our Verdict

I don’t like the fact that it requires a year of constant attention to receive the full $175 bonus as well. I’d much prefer an account that pays out slightly less, but pays it out in one lump sum. We haven’t added this to our best bank bonuses due to the unknown of hard/soft pull.