Update: see details of their new bonus in this post
Offer at a glance
- Maximum bonus amount:Â $750
- Availability:Â MI
- Direct deposit required:Â Yes, direct deposit for 3 consecutive monthsÂ
- Additional requirements:Â 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:Â None
- Early account termination fee:Â $15, 180 days
- Household limit:Â One
- Expiration date:Â None
Contents
The Offer
- Community Financial Credit Union is offering a $750 checking bonus when you open a new checking account and complete the following requirements:
- $5,000 minimum opening deposit
- $5,000 minimum balance for 90 days
- Direct deposit for 3 consecutive months
The Fine Print
- To receive the $750 bonus, open a new checking account with a minimum balance of $5,000.
- No portion of the initial deposit can come from funds that are already on deposit with CFCU.
- Entire initial amount deposited at account opening must be funds from a source other than funds you have on deposit with the Credit Union (e.g. funds from an account you hold at another financial institution).
- Open only to new checking account holders.
- Only one promotion per household.
- Minimum balance of $5,000 needed for 90 days with three months of direct deposits.
- Bonus provided within 45 days after the initial 90 day requirements.
- 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. If anybody goes for it then please let us know if it’s a hard or soft pull to open.
Hat tip to reader ShawntheShawn
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
