Offer at a glance
- Maximum bonus amount: $1,500
- Availability: NY, in branch only
- Direct deposit required: None
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Up to $10,000. Probably won’t work in branch
- Monthly fees: $10 – $20, avoidable
- Early account termination fee: $25
- Household limit: None
- Expiration date: 05/23/2025
The Offer
- Hudson Valley Federal Credit Union is offering a checking bonus of $750 (value business checking) or $1,500 (Enhanced Business Checking account).
- Open your first HVCU Value Business Checking or HVCU Enhanced Business Checking account
- Make qualifying deposit(s) of at least $2,500 for a Value Business Checking or $7,500 for an Enhanced Business Checking account. You must maintain the respective average balance in the account through the end of the third full calendar month after the account opening to earn the cash incentive.
- Enroll in Online Banking services
- Complete 10 qualifying transactions within 90 days of enrollment. Qualifying transactions include a combination of deposits, ACH credits, wires, bill pay, and debit card purchases.
The Fine Print
- This offer is available to new and existing business members who do not currently have an HVCU business checking account. Existing members with a business checking account are not eligible for this promotion. Accounts are subject to approval. Limit one offer per business member. To qualify for the business checking offer, you must:
- Open your first HVCU Value Business Checking or HVCU Enhanced Business Checking account.
- Make qualifying deposit(s) of at least $2,500 for a Value Business Checking or $7,500 for an Enhanced Business Checking account. You must maintain the respective average balance in the account through the end of the third full calendar month after the account opening to earn the cash incentive.
- Enroll in Online Banking services
- Complete 10 qualifying transactions within 90 days of enrollment. Qualifying transactions include a combination of deposits, ACH credits, wires, bill pay, and debit card purchases.
- Offer valid from 03/03/2025 to 05/23/2025. After all requirements are met, the cash incentive will be deposited into your new business checking account within 30 days. To receive the cash incentive, your account(s) must be open and in good standing, as applicable.
- Offer is valid for one-time use per business member. Employees of HVCU are not eligible. HVCU reserves the right to withdraw this offer at any time without notice. The cash incentive may be subject to IRS reporting. Consult a tax professional regarding reporting requirements, as this offer is not intended to provide tax advice or guidance.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
- HVCU Value Business Checking has a $10 monthly fee. This is waived with a $2,500 balance.
- HVCU Enhanced Business Checking has a $20 monthly fee. This is waived with a $7,500 balance.
Early Account Termination Fee
According to the fee schedule there is an early account termination fee of $20 if closed within 90 days of account opening.
Our Verdict
Huge bonuses given the requirements are easy to meet. Definitely worth doing if eligible. Will add to our list of the best bank account bonuses.
Hat tip to reader Tikky
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
