Is the Monterra Credit Union Premium Checking bonus available nationwide?

No. This offer is limited to residents of select states: CA.

Is the Monterra Credit Union Premium Checking bonus taxable?

Yes. Bank account bonuses are considered taxable income by the IRS. Monterra Credit Union will send a 1099-INT form if your bonus is $10 or more.

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Monterra Credit Union

Monterra Credit Union Premium Checking $150 Bonus

Monterra Credit Union pays $150 when you open a new Premium Checking account by December 31, 2026, then in the qualifying month make 10 debit or credit card purchases, bring in at least one direct deposit, payroll deposit or external ACH transfer of any amount, and choose eStatements. No monthly fee and $20 to open. Membership covers San Mateo, Alameda, Contra Costa, Santa Clara and San Francisco counties.

Bonus amount: $150
Expires: Dec 31, 2026
Time to complete: ~75 days
Paid after opening: ~100 days
Difficulty: Easy

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Requirements

Last verified: Nov 9, 2026

Join and open Premium Checking
Join Monterra Credit Union (membership starts with a Share Savings account) and open a new Premium Checking account by December 31, 2026 with $20. No other account type earns the bonus. Membership is for people who live, work, worship or attend school in San Mateo, Alameda, Contra Costa, Santa Clara or San Francisco county, or through a partner organization or a member's household.
10 card purchases
Make 10 or more purchases with the debit card linked to the new Premium Checking account and/or a Monterra credit card under the same membership. The terms say the requirements count starting the full calendar month immediately following the month after account opening.
1 direct deposit or external ACH
Bring in at least one direct deposit, payroll deposit or external ACH transfer to the checking account in that same qualifying period. No minimum amount is stated, so a direct deposit is not required.
Choose eStatements
Elect to receive eStatements instead of mailed statements.

Paid within 31 days after the qualification period ends, to an open account with a positive balance.

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Account Details

Monthly feeNo monthly fee

Opening deposit$20

APY3.5% (as of Nov 9, 2026)

Min. hold periodNo minimum

Credit inquiryThe bank does not publish this. Ask before you apply.

ChexSystemsThe bank does not publish whether it screens banking history. Ask before you apply.

AvailabilitySelect states (CA)

Eligibility

Minimum age+

Existing customersEligible

The bonus footnote says to open a new Premium Checking account and does not limit it to new members. Confirm with the credit union if you are already a member.

Other restrictions

Membership: live, work, worship or attend school in San Mateo, Alameda, Contra Costa, Santa Clara or San Francisco county, or a partner organization or a member's family, domestic partner or roommate.
Opening channel unresolved: the online application's first screen asks only whether you are a current member; later screens were not read.

Tips & Gotchas

Read the timing literally: the terms say the requirements count 'starting the full calendar month immediately following the month after account opening'. Doing them every month from opening is the safe way to cover it.
An external ACH transfer from another bank of any amount satisfies the deposit step, so you do not need a paycheck direct deposit.
Membership is limited to five Bay Area counties and affiliation paths. The online application's first screen does not ask where you live, so check eligibility before you apply.
The same three steps also earn 3.50% APY on the account each month you meet them.

Community Data Points

We don't have direct deposit reports for this account yet. What we do have: 3 community reports on how long the bonus took to post, and the most recent ones average about 86 days.

See Monterra Credit Union Checking payout timelines

Can You Earn This Bonus Again?

Can rechurnNo

NotesThe terms do not address repeat bonuses.

Fine Print

To receive $150 cash bonus: Open a new Premium Checking account (no other account types are eligible) by 12/31/2026. Fulfill three (3) requirements, starting the full calendar month immediately following the month after account opening. Requirements are: 1.) Make ten (10) or more card purchases using either the debit card(s) linked to your new Premium Checking account and/or a credit card under the same membership as your new Premium Checking account; and 2.) Minimum of one (1) direct deposit, payroll deposit, or external ACH transferred into your checking account type; and 3.) elect to receive eStatements in lieu of monthly paper statements. Cash bonus for the month will be paid to the open, eligible membership account within 31 days after the qualification period ends. The account must have a positive balance at the time of payout to receive the bonus.

Taxable income · Reported on 1099-INT

What is APY (Annual Percentage Yield)?

The annual interest rate on a savings account, expressed as a percentage of your balance with compounding included. On savings accounts we track, APYs currently range from 0.01% at big traditional banks to 4.25% at the best online accounts.

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Do Bank Bonuses Show Up on a 1099-INT?

Yes. Bank bonuses are taxable income. Most banks report them on a 1099-INT once you earn $10 or more from that bank in a calendar year. Some report them on a 1099-MISC instead. Either way, you report the bonus as ordinary income on your tax return.