[MN only] Great River Federal Credit Union $100 Checking Referral Bonus – Direct Deposit Not Required

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

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:
    William Charles
  • On November 8, 2023, 10:00
Tags: hard pullmn bank bonuses

View Comments (113)

    • 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."

  • This is back down to $100 only @guest_1230774

    Not enough $$ to get me to apply considering the hard pull and the seemingly recent increase in the possibility of denial due to Chex...

  • Applied 11/10. Like others rec'd a rejection letter in the mail today (11/18) citing Chex. Debating attempting to call in on Monday to argue my case and try to get this one as it would be so easy.

  • I applied for an account with Great River last week and never heard back. I called in and they told me that I was declined for Chex. They said that I would be receiving a letter in the mail. It seems like they have gotten more strict as they declined both @guest_1736264 and me recently.

    I don't recall seeing a lot of Chex denials mentioned in this post although it's possible that people just didn't bother to report their negative experiences. My Chex stats before I applied were: 2/1, 6/3, 10/6, 17/12 and 30/24.

  • Applied OOS application went pending. A week goes by and a letter comes in the mail stating denial due to Chex. Chex is lol/24. Did not see a hard pull on any of my 3 credit reports.

  • Get a $150 bonus with a new checking account at Great River Federal Credit Union using promo code REFERNOV150. Join NATIONWIDE via the American Consumer Council (ACC) as part of the application process and enter MICHELLE BAUMAN as the referrer.

    To qualify, enroll in online banking and eStatements and complete one of the following within 60 days:

    1. Direct deposit of at least $200, or
    2. 10+ debit card transactions over $10, or
    3. Get any approved loan or credit card.

    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. They hard-pull Equifax and Chexsystems, but aren’t inquiry-sensitive. Bonus is deposited around the 15th of the month after 60 days from account opening.

    What makes this one a winner is that a Direct Deposit is not mandatory, and that they are not Chex-sensitive. Feel free to reach out if you have questions: Michelle@bankbonusgeek.com

    Presumably this increased bonus offer will end at the end of this month and return to the $100 offer. Details here: https://www.greatriverfcu.org/novmember-refer/

    • Thanks for the detailed post.
      By the way, are you related to Gadget ? wife, sister, daughter ?
      Or Is that you only, Gadget?

      • A small credit union in MN; that's who. As long as you have well-established credit, hard credit pulls only cause a few points of FICO drop, which I believe goes away within 3 months. Anyone with a FICO score over 720-750 gets the best rates and premium offers from lenders. If you cannot handle it, that’s up to you.

  • The new referral bonus is $150, up from $100. The promo code is REFERNOV150

    Really straightforward bonus. In order to earn the $150 bonus, the new member must enroll in online banking and eStatements and meet one of three criteria:
    1) Set up DD of $200 +
    2) Checking account with 10 or more transactions of $10+
    3) Any type of approved loan or credit card.

    [removed]

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