[Expired] [MI only] Michigan Schools & Government Credit Union $200 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 9/11/23: Extended through 10/31/23, debit cards and direct deposit requirements have been increased.

Update 9/2/23: Deal is back and valid until 9/30/23

Update 7/10/22: Back and valid until 8/31/2022.

Offer at a glance

• Maximum bonus amount: $200
• Availability: Persons who reside, are employed, worship or attend an educational institution in any county within the State of Michigan
• Direct deposit required: Yes, $100+ within 60 days of account opening
• Additional requirements: See below
• Hard/soft pull: Unknown (possibly hard, see comments). Report of soft pull
• ChexSystems: Unknown
• Credit card funding:Up to $500
• Monthly fees: None
• Early account termination fee: $5, 12 months
• Household limit: None
• Expiration date: August 31, 2021 8/31/2022

The Offer

Direct link to offer

• Michigan Schools & Government Credit Union is offering a bonus of up to $200 when you open a new checking account. Bonus is broken down as follows:
  • Earn $100: Set up your direct deposit of $250+ to your new checking within 60 days of account opening.
  • Earn $100: Complete 10 debit card transactions of $10+ within 60 days of account opening.

The Fine Print

• Available for regular and fresh start checking accounts opened before 8/31/2021; limited to one incentive per member.
• An incentive of up to $200 will be paid when the member completes the following: qualify for and open a checking account and ATM/debit card; make an initial deposit of $25 or more in the account; within 60 days, enroll in and receive one direct deposit (minimum $100) to the new account (earn $100), and/or conduct 10 PIN or signature debit card transactions (Does not include ATM) of $5 or more (earn $100).
• Members must not currently have a checking account or have closed a regular checking account as of 4/1/2021 or later.
• Bonus will be paid 61 days after account opening date.
• 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

There is a $5 fee if closed within 12 months in the fee schedule.

Our Verdict

Has been a $175 bonus in the past. This is worth doing if it’s a soft pull. Won’t add this to our best bank account bonuses until that has been confirmed.

Hat tip to Linamax

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• Introduction To ChexSystems
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