[Expired] [MI only] Credit Union One $300 Checking Bonus

Bonus is no longer being offered. Click here to view the best current bank account bonuses.

Update 7/13/19: Deal is back and available until August 31st, 2019. Bonus has been increased to $300

Bonus is back and available until October 31st, 2018. Hat tip to reader Toad.

Offer at a glance

• Maximum bonus amount: $300
• Availability: Must live, work, attend school or worship in Michigan
• Direct deposit required: Yes, $1,000+
• Additional requirements: Make 10 debit card transactions
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Up to $600
• Monthly fees: $6, avoidable
• Early account termination fee: $5, 90 days
• Household limit: None
• Expiration date: August 25th, 2018 October 31st, 2018 August 31st, 2019

The Offer

Direct link to offer

• Credit Union One is offering a bonus of $300 when you open a new cash back checking account. Bonus is broken down as follows:
  • eStatements are required
  • Receive a direct deposit of at least $1,000 within 60 days of account opening and receive a $100 bonus
  • Make 10 debit card transactions within 60 days of account opening and receive a $100 bonus
  • Maintain an average balance of $3,500 for 90 days after account opening and receive a $100 bonus

The Fine Print

• Direct deposit must be new and not currently with Credit Union ONE and post to account within 60 daysof account opening.
• Debit card transactions must post to the account within 60 days of account opening.
• ATM transactions not eligible. Funds will be credited to account within seven days after eligibility requirements have been met.
• Must subscribe to E-Statements.
• Member is responsible for any tax liability associated with cash back.
• Cash back will be reported on applicable 1099 IRS form as required by law.
• May not be combined with any other offer and is limited to one offer per member.
• Offer does not apply to members who have an existing checking account or have closed a checking account within the past six months.
• Offers expire 10/31/18.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Monthly fee of $6 is waived if you do any of the following:

• Have an average monthly balance of $500
• Receive a monthly direct deposit
• Make 15 debit card or bill pay transactions
• If you are under 24 or older than 65

Early Account Termination Fee

A $5 fee is charged if the account is closed within the first 90 days of being opened.

Our Verdict

Should be worth doing for most people as it’s a soft pull to open and there is a small amount of credit card funding. You do need to deposit $500 to keep the account fee free (or do one of the other methods) and it does require a direct deposit but at least the bonus itself is $200 and bigger than a lot of others. Because of this we will be adding it to the best checking bonuses.

Big thanks to reader, Aaron W who let us know. Learn how to find bonuses and contribute to the site here.

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