Update 5/9/26: Back to 7/31/26. Harder requirements now (eg requires $1000 in debit card spend). Also, $200 for combined checking/savings balance is new, so max bonus now $600 (was $400). . Hat tip to the reader Larrabeedrill
Offer at a glance
- Maximum bonus amount:400 dollars
- Availability:Anyone who lives, works, worships, or attends school in Nassau County or Suffolk County, excluding the townships of East Hampton, Southampton, or Shelter Island, is eligible to join Island.
- Direct deposit required:Yes, two recurring deposits totaling $1,000+
- Additional requirements:See below
- Hard/soft pull:Unknown
- ChexSystems: Unknown
- Credit card financing:Unknown
- Monthly fees:ANY
- Early account closure fee:
- Family boundary:
- Expiration date:June 30, 2025
Offers
- Island Federal Credit Union offers a $400 bonus when you open a new cash-back check
- Use promo code 600MORE
- Get $200 when you direct deposit (minimum of two (2) recurring electronic deposits totaling no less than $1,000 USD in a 90-day period)
- Get $200 when you use your debit card to spend over $1,000 within 90 days
- Get $200 when you carry a combined checking/savings balance of $10,000+ for 90 days
Fine Press
- All offers are subject to credit approval. To receive Reward Points, member must have an Island checking account, debit Mastercard and be enrolled in the uChoose Rewards Program at www.uChooseRewards.com. Points will be awarded for purchases at the beginning of each month.
- Open to individuals who have not had a Federal Island Checking account in the past 12 months
- . Eligibility criteria must be met within the first 120 days of membership or individual loss incentive.
- To qualify a Direct Deposit must include a minimum of two (2) recurring electronic deposits totaling no less than $1,000 in a 90 day period.
- Make at least 10 debit transactions of $5.00 or more per transaction (excluding ATM transactions.
- Transactions involving peer-to-peer (P2P) services such as Venmo, Pay Pal, Zelle and other P2P services are ineligible).
- Maintain an average month-end combined checking/savings account balance of $500 or more for the first 90 days of account opening.
- If the Member successfully completes the requirements, Island Federal will deposit the bonus into the Member’s savings account in the month following the 120-day period.
- Not available for fiduciary accounts or those accounts that have been closed within 90 days or are closed with a negative balance.
- The bonus will be reported on IRS Form 1099-INT. Offer valid from 01-05-2025 to 30-6-2025; subject to change without notice.
- All bank account bonuses are treated as income/interest and as such you must pay tax on them
Avoidance of fees
Monthly fees
Early account termination fee
I couldn’t find any EATF in the fee schedule.
Our verdict
Not available in many areas unfortunately, looks good other than that.
Hats off to him Yum
Useful posts about bank bonuses:
- A Beginner’s Guide to Bank Account Bonuses
- Bank Account Quick Reference Table (Calculated Sheet) (very useful for ranking bonuses according to different parameters)
- PSA: Don’t call the bank
- Login to ChexSystems
- Banks and credit unions that are sensitive to ChexSystems requirements
- What Banks and Credit Unions Do/Don’t Attract ChexSystems?
- How to use our direct deposit site for banking bonuses site
- Common Bonus Bank Misconceptions + Why You Should Give Them a Go
- How many bank accounts can I safely open in a year for the purposes of the bank bonus?
- Affiliate links and bank bonuses – We will not use them
- Complete list of ways to close bank accounts in each bank
- Banks that allow/disallow overseas check applications
- Bank bonus posting times
