This bonus has expired and is no longer valid. Best checking bonuses can be found by clicking here.
Offer at a glance
- Maximum bonus amount: $100
- Availability: MI only
- Direct deposit required: Yes, receive a direct deposit of at least $100
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown (might be possible)
- Monthly fees: None
- Early account termination fee: Account must be kept open for six months otherwise bonus is forfeit
- Household limit: None
- Expiration date: September 30th, 2017
The Offer
- Open a Michigan Schools & Government Credit Union and get a bonus of $100 when you meet the following requirements:
- qualify for and open a regular checking account and ATM/debit card
- within 7 days of opening, make an initial deposit of $100 or more in the account
- within 60 days
- enroll in and receive one direct deposit (minimum of $100) to the new checking account
- sign up for eStatements and Online Banking
- use the account’s issued debit card for 20 purchases
The Fine Print
- Available for regular checking accounts opened between 6/26/2017 and 9/30/2017; limited to one incentive per member.
- The $100 incentive will be paid when the member completes all of the following: qualify for and open a regular checking account and ATM/debit card; within 7 days of opening, make an initial deposit of $100 or more in the account; within 60 days, enroll in and receive one direct deposit (minimum of $100) to the new checking account, sign up for eStatements and Online Banking, and use the account’s issued debit card for 20 purchases.
- Members must not currently have a regular checking account or have closed a regular checking account 6/1/2017 or later.
- Account must remain open for 6 months
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There is no monthly checking fee on this account.
Early Account Termination Fee
You need to keep the account open for six months otherwise you will forfeit the bonus
Our Verdict
They have offered a $100 bonus in the past. Seems like a a lot to do for only a $100 bonus. Might be worth it if it’s a soft pull and credit card funding seems hopeful as well. As always please share your experiences in the comments below.
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
