Update: see details of their new bonus in this post
Offer at a glance
- Maximum bonus amount: $750
- Availability: MI
- Direct deposit required: Yes, direct deposit for 3 consecutive months
- Additional requirements: See below
- Hard/soft pull: Mixed datapoints
- ChexSystems: Unknown
- Credit card funding: No credit card funding, can fund with a debit card up to $20,000
- Monthly fees: None
- Early account termination fee: $15, 180 days
- Household limit: One
- Expiration date: None
Contents
The Offer
- Community Financial Credit Union is offering a $750 checking bonus when you open a new checking account and complete the following requirements:
- $5,000 minimum opening deposit
- $5,000 minimum balance for 90 days
- Direct deposit for 3 consecutive months
The Fine Print
- To receive the $750 bonus, open a new checking account with a minimum balance of $5,000.
- No portion of the initial deposit can come from funds that are already on deposit with CFCU.
- Entire initial amount deposited at account opening must be funds from a source other than funds you have on deposit with the Credit Union (e.g. funds from an account you hold at another financial institution).
- Open only to new checking account holders.
- Only one promotion per household.
- Minimum balance of $5,000 needed for 90 days with three months of direct deposits.
- Bonus provided within 45 days after the initial 90 day requirements.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This is a free checking account has no monthly fees to worry about.
Early Account Termination Fee
According to the fee schedule there is a $15 fee if closed within 180 days.
Our Verdict
Great deal if you’re eligible for an account. If anybody goes for it then please let us know if it’s a hard or soft pull to open.
Hat tip to reader ShawntheShawn
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
View Comments (95)
Wells Fargo pushes counted as a DD for last promo.
Thanks, updating now.
Anyone get bonus OOS?
Would someone be willing to refer me? Please email gademe@protonmail.com
Thank you!
Applied 4/30 (promo had stopped showing on website, but original terms said 4/30). Multiple direct deposits from Michigan Lottery in May, June, & July. Bonus posted July 29!
Can you please refer me as new promotion starts now
Do you still have your account opened, if yes, can I be your relative?
I do, but I don't think this promo is still going on.
@guest_1894002 would love to be relative also. Can you email doctorofcredit007 at gmail dot com? Thanks!!!
@guest_1838129 It's not the same promo,
it's $1000 for $10,001+ in DD per month until Feb 2025 or
$500 with $5,001-$10,000 DD per month until Feb 2025 or
$300 with $3,000-$5,000 DD per month until Feb 2025. I'm OOS and was hoping if I could get an account opened then hit it with a Wise or Ally or Fidelity deposit (hoping it would count as a DD) for each month to see if I could get the $1,000 bonus.
@guest_1838129 Can you shoot me an email at fiberbendr@gmail.com? I'd like to test the Wise/Ally/Fidelity "DD" to see if it works then like @guest_1800075 did, pull the money back out and do that for a couple months to see if I can get the bonus.
03/28: account opened
April, May, June: Real DD
06/26: 750 bonus received
2/22-Opened account in branch and deposited a $5000 check
3/8-$500 real DD then withdrew in 2 days
4/3-$500 real DD then withdrew in 2 days
5/21-$500 real DD then withdrew in 2 days
5/23-$750 Bonus Received
Do you still have your account opened, if yes, can I be your relative?
Bonus has posted for me at 91 days from opening.
I applied tonight and was instantly approved with all credit frozen. Afterwards realized the promo was no longer listed on their site (it was earlier in the day). Luckily I had a tab open that showed it expires April 30th and my account opening date shows April 30th. Hopefully it is honored - will try to remember to report back.
Anyone know when this offer expires? I don't see it listed on their website fine print.
Now it says offer expires April 30
I applied tonight and afterwards realized its no longer listed on their site. Luckily I had a tab open that showed it expires April 30th. Hopefully it is honored.
Declined for both biz/personal online. Went in branch and got the personal opened. Did not ask about the business but may try opening online at a later date now that I’m established. Banker did pull Chex and showed me what he could see but said he could care less about inquiries and it was more to see if I owed money to any other institutions
That's great news. Why you did not open Business Account at Branch? Also, which branch in MI you went? And what documents banker requested apart from your State ID/Driver License and SSN number?