[Expired] [MI] Community Financial Credit Union $1,000 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer extended until November 30th

Offer at a glance

• Maximum bonus amount: up to $1,000
• Availability: MI
• Direct deposit required: Yes, direct deposit through February 2025
• Additional requirements: See below
• Hard/soft pull: Mixed datapoints
• ChexSystems: Unknown
• Credit card funding: No credit card funding, can fund with a debit card up to $20,000
• Monthly fees: None
• Early account termination fee: $15, 180 days
• Household limit: “one bonus per member” (in the past we wrote about a limit 1 per household, I’m not seeing that here)
• Expiration date: October 31, 2024

The Offer

Direct link to offer

• Community Financial Credit Union is offering of up to $1,000 checking bonus when you open a new checking account and set up direct deposit through February 2025:
  • $1,000 Bonus with monthly direct deposit of $10,001 or more
  • $500 Bonus with monthly direct deposit of $5,001 to $10,000
  • $300 Bonus with monthly direct deposit of $3,000 to $5,000

Direct Deposit must start within 8 weeks of account opening and continue through February 2025.

 

The Fine Print

• Accounts must be opened by October 31, 2024. Direct deposits must be active within 8 weeks of account opening. Monthly direct deposit amounts must meet a tier’s minimum amount each month to qualify for the bonus. One bonus per member.
• Open only to new checking account holders.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This is a free checking account has no monthly fees to worry about.

Early Account Termination Fee

According to the fee schedule there is a $15 fee if closed within 180 days.

Our Verdict

Great deal if you’re eligible for an account and have a large direct deposit to move over. The previous deal was for $750 without the high direct deposit requirements – see the comments on the prior posts to read experiences with the credit union. 

Hat tip to reader killdozer

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