Find an updated list of Monterra Credit Union promotions, bonuses and offers here.
Update 6/13/25: San Mateo Credit Union is now Monterra Credit Union. The $150 bonus when you open a new qualifying checking account has been extended through 9/30/25.
About Monterra Credit Union Promotions
Monterra Credit Union is headquartered in Redwood City and is the 40th largest credit union in the state of California. It is also the 264th largest credit union in the nation. It was established in 1952 and as of June of 2021, it had grown to 191 employees and 104,290 members at 11 locations.
I’ll review the offers below.
Monterra Credit Union $150 Checking Bonus
Currently, Monterra Credit Union is offering a $150 checking bonus when you open a new checking account and meet certain requirements.
- What you’ll get: $150 bonus
- Account Type: Premium Checking Account
- Availability: CA (Bank Locator)
- Direct Deposit Requirement: Yes (see what works)
- Credit Inquiry: Soft Pull online, Hard Pull in branch
- ChexSystems: Unknown, let us know
- Credit Card Funding: Fund up to $500
- Monthly Fees: None
- Early Account Termination Fee: Unknown
- Household Limit: One per mailing address
(Expires 09/30/2025)
| BMO Smart Money Checking ($400 cash bonus*) | BMO Smart Advantage Checking ($400 cash bonus*) |
| Bank of America ($300 bonus offer) | Chase Total Checking® ($300 bonus) |
| KeyBank Key Smart Checking ($300 bonus) | SoFi Checking and Savings ($325 bonus) |
How To Earn Bonus
- Earn $150 cash bonus by meeting these three (3) requirements in the first calendar month after opening your new Premium Checking account:
- Make 10 or more debit card transactions
- Have at least one monthly direct deposit, payroll deposit, or ACH transfer
- Select to receive eStatements
- Requirements to receive $150 cash bonus: Open a new Premium Checking account (no other account types are eligible) by 9/30/2025.
- Starting the full calendar month immediately following the month after account opening, 10 or more debit card purchases using the debit card(s) associated with the new Premium Checking account, minimum of one direct deposit, and eStatements must be selected.
- In the case of a joint account, purchases and payments from multiple debit cards will be added together.
- Credit Union employees, officials, and their family members are not eligible.
- Offer may change or be discontinued at any time without prior notice.
- Limit one bonus eligible checking account per individual membership.
- 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.
- The bonus is classified as interest paid to the account where the bonus is credited. Any applicable taxes associated with the bonus are the responsibility of the account holder.
- To the extent required by law, the Credit Union will report the total value of this bonus to the IRS on Form 1099-INT for the tax year in which the bonus was paid.
How to Waive Monthly Fees
- Premium Checking: No monthly fees
- Free Checking & Student Checking: No monthly fees
- Business Checking: $15.00 monthly waived if an average daily balance of $4,000 is maintained.
- Business Basic Checking: $7.50
- Nonprofit Business Checking: No monthly fees
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Bottom Line
Make sure you check out Monterra Credit Union to learn more about the bonus. Take advantage of this bonus if you live in California. Don’t forget, the bonus will be reported on IRS Form 1099-INT.
Additionally, your feedback is highly appreciated and makes our site even better!
While they have many generous bonuses, San Mateo Credit Union doesn’t have great rates for CDs and Savings. You may want to check out our full list of Bank Rates and CD Rates.
Compare San Mateo Credit Union Promotions to other bank bonuses from Citi, Huntington, HSBC, Chase, TD, Discover Bank, Axos Bank, PNC Bank, BMO, SoFi, Fifth Third Bank, Bank of America, Wells Fargo, U.S. Bank, and more!
*Check back at this page for updated Monterra Credit Union promotions, bonuses and also offers.
Datapoint: I applied for it online awhile back and no hard pull showed up on CreditKarma yet. I was also able to fund $500 via CC (Visa/MC only).
Hard pull on credit report. Credit card deposit codes as a cash advance. 🙁