[MI] Michigan First Credit Union $100 Referral Bonus (Direct Deposit Not Required) + $100 CD + 10% Savings Account

Update 10/3/26: Now offering a 10% rewards savings account on balances up to $5,000. Requires the following:

members must be enrolled in e-statements for both account and credit card statements. (b) Maintain a Michigan First Premier Checking Account. (c) Perform no more than 2 “in-person” and/or “mail-in” transactions a month. (d) Maintain a minimum of $400 deposited through Direct Deposit into the same account where they have SavingsPlus, Premier Checking, or a Credit Card. (e) Use your Michigan First Debit Card 10 or more times a month for signature based or PIN-based purchases (transactions made online and over the phone as well as those for which you choose credit and sign the receipt are considered signature-based transactions); OR use your Michigan First Rewards Credit Card 12 or more times a month for merchant purchase transactions

Hat tip to reader Bockrr

Offer at a glance

• Maximum bonus amount: $100
• Availability: Membership is open to anyone who lives, works or worships in the state of Michigan
• Direct deposit required: Optional
• Additional requirements: See below
• Hard/soft pull: Unknown 
• ChexSystems: Unknown
• 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 offers below

• Michigan First Credit Union is offering two deals:
  • $100 referral bonus to both parties. Person signing up needs to open a new checking account, make 20 debit card purchases OR reach $500 in direct deposits within 60 days. Do not share your referrals in the comments below, they can be shared in this linked post. 
  • $100 CD bonus. Requires a $5,000 deposit, shortest CD is 6 months (0.8% APY for $5,000 or 3.3% for $10,000)

The Fine Print

• Full terms here
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Premier checking has no monthly fees

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF. 

Our Verdict

If you put $10,000 into a 5% APY account for 6 months you’d earn $250. With this bonus and the 3.3% APY you’d earn $265 so only marginally better. The checking referral bonus is easy though. 

Do not share your referrals in the comments below, they can be shared in this linked post. Please share datapoints (e.g hard/soft pull and credit card funding) below. 

Hat tip to reader Bockrr

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