[AL, TN] Redstone Federal Credit Union $100 Checking Referral Bonus (Both Parties Receive $100)

Update 10/2/23: Deal is back but heavily restricted now:

  • The promotion is only available to residents of the following counties: Alabama Counties – Madison, Morgan, Marshall, Limestone, Cullman or Jackson. Tennessee Counties – Rutherford, Bedford, Cannon, Moore, or Lincoln.
  • Participant must open their first RFCU checking account during the promotional period, and must not have had a RFCU checking account within the past 5 years (1826 days).

Hat tip to ShawntheShawn

Update 6/29/22: Deal is back and valid until September 29, 2022. Hat tip to reader Gadget.

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: AL, TN, GA, MS, MO, AR, IN, KY, IL, OH, MI, PA, FL, NC, WV, VA. Can join Financial Fitness Association for $8 to be eligible.
  • Direct deposit required: No
  • Additional requirements: 5 debit card purchases & online banking
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes, not sensitive
  • Credit card funding: Up to $530
  • Monthly fees: $5, avoidable
  • Early account termination fee: None
  • Household limit: None mentioned
  • Expiration date: December 31, 2021 September 29, 2022

The Offer

Direct link to offer

  • Redstone Federal Credit Union is offering a $100 bonus for both the referrer and referee when the person being referred completes the following requirements:
    • Access online banking once
    • Use your debit card five times
  • You can refer a maximum of five people

The Fine Print

  • Note: the promotion is only available to the first 4,000 participants from the following states: Alabama, Tennessee, Georgia, Mississippi, Missouri, Arkansas, Indiana, Kentucky, Illinois, Ohio, Michigan, Pennsylvania, Florida, North Carolina, West Virginia and Virginia.
  • Promotion available 9/1/2021 – 12/31/2021.
  • Must be RFCU® member in good standing as defined by RFCU Bylaws and must be referred by an existing RFCU member.
  • The participant must not have had an RFCU checking account within the past 24 months.
  • The participant must notify RFCU of the referral code at account opening.
  • Business accounts are not eligible.
  • The promotion consists of: $100 first RFCU checking bonus, $100 referral incentive.
  • In order to receive the $100 checking bonus, within 30 days of account opening the participant must make at least 5 point of sale (POS) purchase transactions with the debit card associated with the new checking account and set up and access Redstone’s online banking at least one time.
  • Limited to one checking bonus per participant and cannot be combined with any other checking offers.
  • Promotion is limited to 5 checking incentives per referring member.
  • Bonus and incentive will be deposited into the members’ primary checking account within 90 days of account opening, but no later than 3/31/2022, if the promotion requirements are met.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Easy checking account is the easiest account to keep fee free. This has a $5 monthly fee that is waived with a direct deposit or 4 debit card transactions.

Early Account Termination Fee

I wasn’t able to find any mention of an early account termination fee in their fee schedule.

Our Verdict

Great bonus as no direct deposit is required and you have the chance to refer people as well. Do not share your referrals in this post, please keep it to discussing the actual bonus. You can share your referrals in the linked post. This will be added to our best bank account bonus page. I do hate promotions that are limited to the first XXXX people though as you never really know when that is hit.

They also offer a Brighter Day savings account which offers 2.02% APY with no requirements on balances up to $2,500 which is worth opening.

Useful posts regarding bank bonuses:
    William Charles
  • On October 2, 2023, 19:45
Tags: al bank bonusesar bank bonusescredit card fundingdirect deposit not requiredfl bank bonusesga bank bonusesIL bank bonusesin bank bonusesky bank bonusesmi bank bonusesmo bank bonusesms bank bonusesnc bank bonusesoh bank bonusespa bank bonusessoft pulltn bank bonusesva bank bonuseswv bank bonuses

View Comments (465)

  • DP: Closed via Chat, same day. (No option to SM) Checking account disappeared from online banking immediately, savings stayed for now.

    • Update: All accounts gone from OLB, but can still log-in and CAN access estatements.

  • any advantage on staying a member of this CU being from Florida? I normally close accounts after collecting bonuses to avoid fees and resetinng the clock for the next churn, however this bonus account seem to have a 5years clock and also I undetstand the CU doesnt cover FL any longer, I understand I can fund new accounts w CC (up to 350usd), if I stay member can I open multiple (checking) accounts to work towards a sign up bonus threshold perhaps? thanks :)

  • @will The post title is confusing... it's no longer eligible for all those states listed at the end.

    Redstone FCU has an unheard-of and awesome youth account promotion as well, for up to $200.

    https://www.redfcu.org/youth

    Youth account bonuses at the few banks that offer them are usually only $25-$100. However, the promo is geo-restricted too.

    The participant must be a resident of one of the following counties to be eligible for the promotion:
    Alabama Counties – Madison, Morgan, Marshall, Limestone, Cullman or Jackson. Tennessee Counties –
    Rutherford, Bedford, Cannon, Moore, or Lincoln.

  • Hi, can I waive the now 3usd checkings fee if I transfer instant (no zelle) from my Chase 1cent per month?

    • No.

      "fee can be waived with at least one direct deposit credited to checking account per month or 4 debit card Point-of-Sale (POS) transactions per month. "

      Instant transfers likely do not count as a direct deposit.

      But, if you want to be the DP... try it. What's the WORST thing that happens? One $3 fee, and you ask to have it waived?

  • Redstone has a great credit card - with 5% restaurants, gas, 3% grocery, discount stores (includes WalMart !), wholesale clubs, utility, phone, and 1.5% on everything else
    credit card ahs a bonus of $150/ $3,000 spend

    • I have the visa traditional, wondering if I can do the upgrade to signature without going for a new card.

      • I would call the number on the back of the card and ask. Asking a teller/CU rep might lead you down the wrong path. With small issuers, I would be really wary that they aren't going to pull credit & make it a new card.

  • I am member of FFA but don’t live kn any of the states listed above. Am I eligible to open thw account?

  • The $100 refer-a-friend program is back, valid till 12/23/23: https://www.redfcu.org/raf/

    However, there are a few strong constraints for the referred person according to the terms and conditions:

    1. The promotion is only available to residents of the following counties: Alabama Counties – Madison, Morgan, Marshall, Limestone, Cullman or Jackson. Tennessee Counties – Rutherford, Bedford, Cannon, Moore, or Lincoln.

    2. Participant must open their first RFCU checking account during the promotional period, and must not have had a RFCU checking account within the past 5 years (1826 days).
    @will @chucksithe

    • Yeah they're offer was in the snail mail newsletter. But then when you look at the PDF terms for the promo it says that it's only for select counties in two states.

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