Update 12/1/24: Deal is now $150. Keep in mind still nationwide if you’re a member of ACC. Hat tip to Gadget 
Bank Bonus Geek
Update 12/9/23: Deal now $100.
Update 11/7/23: Deal is now $150. Now requires 10 debit card transactions (was 5) of $10+ (previously no minimum).
Update 1/12/23: It looks like this is available nationwide if you’re a member of ACC (free to join). Hat tip to Ostrich Rider
Offer at a glance
- Maximum bonus amount: $150
- Availability: MN only. Must live, work, worship, or attend school in one of the following counties: Benton, Stearns, Sherburne
- Direct deposit required: Optional
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Yes, sensitive
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
Direct link to offer (referral | direct link)
- Great River Federal Credit Union is offering a bonus of $150 to both parties when an existing member refers a new customer and the following requirements:
- Open a new checking account
- Complete 10 debit card transactions of $10+ or receive direct deposit within 60 days of account opening
The Fine Print
- $100 bonus ($50 bonus for minor account referrals) will be deposited at or around the 15th of the month following 60 days after account opening.
- New members must sign up for one of the following within 60 days of account opening: 1) Checking Account with Direct Deposit 2) Checking account with 5 or more debit card transactions or 3) Any type of approved loan or credit card.
- $500 referral reward maximum per calendar year.
- Referred or referral accounts must not be negative at the time of the bonus deposit.
- $50 bonus available for minor accounts without above conditions.
- Referred member must not have had a previous membership at GRFCU to qualify.
- Subject to change or cancellation without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a checking account with no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee or not
Our Verdict
If you have a referral please feel free to share it in the comments, just let us know if it’s a hard or soft pull to open in the comments below. We won’t add this to the best bank bonuses until we have that information.
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
12/2: Applied OOS. Given message that Rep would contact me
12/10: Received letter in mail informing me my account could not be opened citing Chex ( in part or in whole).
Chex stats when applying were: 2/1, 6/3, 11/6, 18/12, 33/24
Second time getting denied due to Chex
What was your Chex count, and did they hard-pull your credit before denying you?
Actually not sure – they didn’t put my score in the letter they just said Chex.
Credit I am not sure either
“New Member must not have had a previous membership at Great River FCU to qualify”
Not churnable if you had an account with them in the past?!
Seems like joining the Financial Fitness Association is now also a way to be eligible for membership (ACC still an option as well)
Post needs an update. Referral bonus is now $150 for both parties.
William Charles
https://www.greatriverfcu.org/refer-150/
“Limited Time Offer” P1 & my P2 both received the email notice yesterday.
Nice. I never got around to referring P2 when it was $100, so it looks like my procrastination was worth it.
I clicked the link you posted here. It says to use Promo Code “Unwrap150” and has an ‘Open Now’ button displayed.
How would me doing this be linked to any particular referrer (e.g. how is going through that seemingly generic weblink track)?
Still debating if I’m gonna do this deal at all, since I normally only try to get hard pulls if offer is at least $200.
For the referral to track, you just have to type the referrer’s name on the application. There is a block for a promo code as well. Use UNWRAP150. AFAIK, none of this info auto-fills.
Jay - ⒿⒶⓨ 🙈 🙉 🙊
Anyone know the maximum amount of credit card funding they allow?
Unless it’s changed recently, “The rep that contacts you will say that “debit card” funding is capped at $1K. I used Citi Double Cash MC CC for funding, and it was treated as a purchase.”
Denied
Do you HAVE to have a referral, or is there some way to sign up without that?
Yeah, it’s in the post. https://www.greatriverfcu.org/new-member/
Way to be a team player!
I doubt that you will be approved. I was declined several months ago for Chex. You seem to comment in all new bonus posts so your Chex is probably just as bad as mine.
lol I’m famous
This is back down to $100 only
William Charles
Not enough $$ to get me to apply considering the hard pull and the seemingly recent increase in the possibility of denial due to Chex…
There is a ETF close account fee of $10 if closed within 6 months of opening
https://www.greatriverfcu.org/wp-content/uploads/2022/09/Fee-Schedule.pdf