Credit Union One $200 Bonus – MI only

Offer at a glance

• Maximum bonus amount: $300
• Availability: Must live, work, attend school or worship in Michigan. Must open in branch
• 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: None listed

The Offer

Direct link to offer

• Credit Union One is offering a $200 bonus when you open a new checking account in branch and complete the following requirements:
  • Set up and received a direct deposit
  • Register for Digital Banking
  • have an active Mastercard Debit Card

The Fine Print

• $200 Bonus Debit Card reward is available to new Cash Back Checking accounts that, within the first 90 days being opened, have (1) set up and received a direct deposit, (2) registered for Digital Banking, (3) kept the account open for 90 days, and (4) have an active Mastercard Debit Card.
• Account must be opened in a Credit Union ONE branch.
• The 90 day time frame starts approximately two to three business days after the account has been opened.
• $200 in bonus debit card rewards will be added only to the Primary Cardholder’s reward balance within Mastercard debit card rewards program by the 5th business day following the 90 day time frame.
• Primary Account holder can receive one $200 reward per account, per the life of the offer.
• Any subsequent cash back accounts opened are not eligible for any additional $200 bonus debit card rewards.
• Joint account owners are not eligible.
• Member is responsible for any tax liability.
• Credit Union ONE reserves the right to change or discontinue this promotion at any time.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $6 monthly fee. This is waived

• $500 monthly average balance in the checking account
• incoming automatic deposit
• Perform any combination of 15 qualifying transactions in a month. Qualifying transactions include debit card and bill pay transactions. Debit card transactions must be posted to the account by the last day of the month. Excludes ATM transactions.
• are under 25 years or older than 64 years.

Early Account Termination Fee

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

Our Verdict

Not as good as the $300 bonus previously offered. That was back in 2019 though so I wouldn’t hold your breathe for that to return.

Hat tip to reader James M

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