NASA Federal Credit Union (NASA FCU) has a new checking account promotion that is a bit of extra work, but may be worth it when you consider they often have pretty good certificate rates (see current special rates including 9-month CD at 5.70% APY). Anyone can join NASA FCU by agreement to join a partner association (they will pay your membership fee to National Space Society).
Their $300 checking account promo has the following requirements:
- Open a Premier eChecking account between 12/11/2023 and 12/31/2023. You must also open a Share Savings account and keep $5 in there as long as you are a member.
- Establish a $500 minimum monthly recurring direct deposit for 3 consecutive months AND make at least 15 debit card purchases (pin or signature) for 3 consecutive months, all within 120 days of account opening. (You get 5 cents of rewards for each signature debit transaction, up to $250 annually.)
- There is no monthly fee as long as you maintain direct deposit (any amounts) OR active billpay + paperless online statements. Otherwise, $8 a month. There is no minimum balance requirement otherwise. Limit one bonus per member.
You are able to fund up to $500 initially with a credit card. Some ways to generate extra debit card purchases beyond your usual small purchases may include Amazon gift card reloads, paying cell phone or other bills online in increments, and making credit card charitable donations. There will be the usual “Know Your Customer” identity checks and they will ask to upload your driver’s license and/or other ID like passport. Finally, be aware that they will close your idle accounts without notice if you don’t have any transactions for a while.
This will go towards my 2024 IRA challenge bucket.
