Farmers Insurance Federal Credit Union (FIGFCU) $100 Referral Bonus

Offer at a glance

• Maximum bonus amount: $100 + $50 via loan
• Availability: Seems like anybody can join via American Consumer Council (ACC)
• Direct deposit required: Yes, $1,000+ per month for two consecutive months 
• Additional requirements: See below
• Hard/soft pull: Unknown 
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None
• Expiration date: None listed

The Offer

Direct link to offer

• Farmers Insurance Federal Credit Union (FIGFCU) is offering a $150 referral bonus to both parties. Bonus is broken down as follows:
  • $50 when your referral opens a Checking account with Direct Deposit of at least $1,000/month for two consecutive months.
  • Earn $50 more when they open any Savings or Certificate account with a minimum of $10,000 for two consecutive months.
  • Earn an additional $50 when your referral opens a Signature Loan or Line of Credit with a minimum loan balance of $10,000.

The Fine Print

• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF.

Our Verdict

Don’t think this is worth doing as it requires such a huge deposit for half of the bonus. Feel free to share your referrals in the comments below.

Hat tip to reader Ryan H

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