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 Penn Community Bank has relaunched its popular new account promotion for Pennsylvania and New Jersey residents, offering a $300 cash bonus upon opening a new checking account and meeting simple activity requirements, plus an additional $50 cash bonus for opening a Statement Savings account simultaneously and maintaining its minimum balance for 60 days . Direct deposit is optional, and applicants must use the promotional code 350BonusOffer when applying online or in-branch. The offer is valid through June 28, 2025, and is limited to specific zip codes within PA and NJ .

Direct Link to OFFER

[PA, NJ Only] Penn Community Bank $300 Checking Bonus + $50 Savings, Direct Deposit Not Required

Offer Details

Checking Account Bonus

• Bonus Amount: $300 cash.
• Qualification Requirements: Within 60 days of account opening, either:
1. Receive qualifying direct deposits totaling $1,000 or more, or
2. Complete 20 or more debit card purchase transactions that post to the new checking account.
• Promotional Code: Applicants must use 350BonusOffer at application.
• Deposit to Open: Minimum opening deposit of $25 is required.
• Bonus Delivery: The $300 bonus will be deposited within 45 days after meeting the checking account requirements.

Savings Account Bonus

• Bonus Amount: $50 cash.
• Qualification Requirements:
1. Open a new Statement Savings account at the same time as the checking account with a minimum opening deposit of $25.
2. Maintain a minimum daily balance of $100 for 60 days from account opening.
• Bonus Delivery: The $50 savings bonus will be deposited into the Savings account within 45 days of fulfilling both the checking and savings requirements.

Maximum Total Bonus

• Combined Bonus: Up to $350 total ($300 from checking + $50 from savings) .

Eligibility & Availability

• Geographic Restriction: Only residents of Pennsylvania and New Jersey, in specific zip codes within those states, are eligible to participate .
• Household Limit: One bonus per household; multiple applicants under the same household will not each receive a bonus .
• New Customer Requirement: Applicants must not have closed a Penn Community Bank checking account within the preceding 12 months, nor have received a prior checking account incentive from Penn Community Bank .
• Account Types: Bonuses are available for personal checking accounts only; business or municipal accounts are not eligible.
• ChexSystems: Penn Community Bank performs a ChexSystems check, and applicants with unfavorable ChexSystems history may be denied; direct deposit remains optional .

How to Apply

1. Visit the Offer Page:
• Online: Go to Penn Community Bank’s promotion page.
• In-Branch: Use the same promotional code and inquire about branch eligibility (note that online and in-branch zip code verification is required) .
2. Provide Required Information:
• Present promotional code 350BonusOffer during application.
• Supply valid identification, including Social Security Number and proof of address within PA or NJ zip codes.
3. Select Account Options:
• Open a new checking account with at least $25.
• Optionally, open a Statement Savings account with at least $25 to earn the additional $50 bonus.
4. Complete Bonus Requirements within 60 days:
• For Checking: Ensure qualifying direct deposit or 20 debit card transactions post.
• For Savings: Maintain at least $100 daily balance for 60 days if a savings account is opened.
5. Monitor Bonus Posting: Expect the $300 checking bonus and $50 savings bonus to post within 45 days of meeting all requirements.

Terms & Conditions

Account Maintenance

• Account Status: Accounts must remain open, active, and in good standing at the time the bonus is processed; closing the account within six months will forfeit the bonus and trigger an early termination fee deduction from the balance.
• Monthly Fees: Both checking and savings accounts carry no monthly maintenance fees when minimum balance requirements are met (i.e., $100 daily minimum for Savings to waive fees) .

Bonus Tax Reporting

• IRS Reporting: All bonuses are treated as income/interest and subject to IRS 1099 reporting; customers will receive appropriate tax forms in January of the following year .

Expiration & Changes

• Offer Expiration: The promotion ends June 28, 2025; applications must be completed and requirements met by this date to qualify \.
• Subject to Change: Penn Community Bank reserves the right to modify or withdraw the offer at any time without notice; information is accurate as of April 4, 2025.

Background & Context

Penn Community Bank, headquartered in Doylestown, Pennsylvania, is an FDIC-insured community bank serving small businesses and consumers across PA and NJ . Over recent years, the bank has periodically updated its new account promotions to remain competitive, previously offering a $350 checking + $50 savings bonus, then reverting to $300 + $50 based on market conditions and response rates . Historically, these promotions have attracted local customers seeking fee-free banking combined with cash incentives, aiding Penn Community Bank in organic growth within its service areas.

Regional Impact

• Pennsylvania Residents: For PA residents in eligible zip codes, this promotion offers one of the more generous direct-deposit-optional checking bonuses in the region; many banks now require direct deposits, whereas Penn Community Bank’s direct-deposit-optional feature lowers the barrier to entry .
• New Jersey Residents: NJ customers face more limited banking options requiring direct deposit for bonuses; the Penn Community Bank’s offer provides an alternative, though applicants must verify zip code eligibility due to the bank’s comparatively smaller branch footprint .

Expert Take

Banking analysts note that direct-deposit-optional promotions tend to attract customers who may not have steady direct deposit sources, such as students, gig-economy workers, or those preferring debit-purchase requirements. While many competitors now limit bonus eligibility to larger metropolitan areas, Penn Community Bank’s strategy focuses on community reach and accessibility, balancing bonus costs against long-term customer retention . However, potential applicants should evaluate whether Penn Community Bank’s branch and ATM network aligns with their needs, as some NJ residents have reported zip code denials due to the bank’s limited service area .

Frequently Asked Questions

1. Is direct deposit required for the $300 checking bonus?
   No. Direct deposit is optional; applicants can instead complete 20 debit card purchases to qualify.
2. Can I open the checking and savings accounts online from anywhere?
   Only applicants within eligible PA and NJ zip codes can complete online applications; otherwise, applicants must visit a local branch for zip code verification to proceed .
3. What happens if I close the account before six months?
   Closing either the checking or savings account within six months of opening will forfeit any earned bonuses, and the bank will deduct the bonus amount from the final balance.
4. Is there a minimum balance required to avoid monthly fees?
• Checking: No monthly maintenance fee is charged on standard accounts referenced in this promotion.
• Savings: Maintain a $100 daily minimum balance to both earn interest and avoid any service fee.
5. When will I receive the bonus?
   Bonuses post within 45 days of fulfilling the respective checking and savings requirements, provided accounts remain open and in good standing.

Conclusion & Next Steps

This $300 checking + $50 savings bonus from Penn Community Bank provides a compelling incentive for eligible PA and NJ residents seeking a direct-deposit-optional bonus with minimal fees and straightforward requirements. To take advantage of this promotion before it expires on June 28, 2025, visit Penn Community Bank’s official promotion page or contact a local branch to verify zip code eligibility and begin the application process.

Interested consumers should compare this offer against other regional bank bonuses to determine which best fits their banking habits and geographic convenience. By meeting the simple requirements and maintaining their accounts in good standing, new Penn Community Bank customers can effectively earn $350 in cash incentives while enjoying fee-free checking and competitive savings rates.