Posted by William Charles on July 6, 2019
Bank Account Bonuses

Published on July 6th, 2019 | by William Charles

120

[Expired] [MI only] Credit Union One $300 Checking Bonus

Bonus is no longer being offered. Click here to view the best current bank account bonuses.

Update 7/13/19: Deal is back and available until August 31st, 2019. Bonus has been increased to $300

Bonus is back and available until October 31st, 2018. Hat tip to reader Toad.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Must live, work, attend school or worship in Michigan
  • 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: August 25th, 2018 October 31st, 2018 August 31st, 2019

The Offer

Direct link to offer

  • Credit Union One is offering a bonus of $300 when you open a new cash back checking account. Bonus is broken down as follows:
    • eStatements are required
    • Receive a direct deposit of at least $1,000 within 60 days of account opening and receive a $100 bonus
    • Make 10 debit card transactions within 60 days of account opening and receive a $100 bonus
    • Maintain an average balance of $3,500 for 90 days after account opening and receive a $100 bonus

 

 

The Fine Print

  • Direct deposit must be new and not currently with Credit Union ONE and post to account within 60 daysof account opening.
  • Debit card transactions must post to the account within 60 days of account opening.
  • ATM transactions not eligible. Funds will be credited to account within seven days after eligibility requirements have been met.
  • Must subscribe to E-Statements.
  • Member is responsible for any tax liability associated with cash back.
  • Cash back will be reported on applicable 1099 IRS form as required by law.
  • May not be combined with any other offer and is limited to one offer per member.
  • Offer does not apply to members who have an existing checking account or have closed a checking account within the past six months.
  • Offers expire 10/31/18.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Monthly fee of $6 is waived if you do any of the following:

  • Have an average monthly balance of $500
  • Receive a monthly direct deposit
  • Make 15 debit card or bill pay transactions
  • If you are under 24 or older than 65

Early Account Termination Fee

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

Our Verdict

Should be worth doing for most people as it’s a soft pull to open and there is a small amount of credit card funding. You do need to deposit $500 to keep the account fee free (or do one of the other methods) and it does require a direct deposit but at least the bonus itself is $200 and bigger than a lot of others. Because of this we will be adding it to the best checking bonuses.

Big thanks to reader, Aaron W who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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Rox
Rox

My wife has a checking account with CUOne. A couple of years back she was able to open a saving account with CC funding of $600(not sure if that is the limit). She was also pay her auto loan with Visa CC for $5 extra but now they are accepting only discover and mastercard.

Let me try opening an account this week and update you.

Tim
Tim

Opened yesterday. $600 is max credit card funding.

Manohar
Manohar

Will they have hard/soft pull?

Superchurn
Superchurn

was it a hard pull or just chex pull?

Brian
Brian

I got the $100 DD bonus (employer) 2 days ago and the $100 debit bonus today after 10 .99 Amazon movie rental purchases.

Steve
Steve

Hard or soft pull when you opened?

Brian
Brian

Quite certain it was soft. I never got notifications from Creditwise or others that there was a change.

Steve
Steve

Thanks!

Don L

No sign of a Hard Pull (with all monitors); $600 Citi DC funding posted as purchase

Brian
Brian

So if one wants to “be the data point” for a bonus for their spouse, which bank would you try first to trigger the DD requirement? She does not have DD at work. We have Fidelity, Paypal, Ally, Chase, Cap One and others, too.

Brian
Brian

Data Point:

Paypal push counts as DD. The $100 bonus was out just a few days later. I did the 10 debit purchases, so that should also post later this week.

Beware… I tried to pay my Citi Double Cash card off for the $600 initial deposit and it was blocked by CU One and I got charged $25 for a check return by Citi.

Brian
Brian

Following up – $100 bonus posted just a few days after 10 .99 Amazon movie rentals. Paypal triggers DD bonus within a few days.

Stephen
Stephen

What does your PP Push count as? Thanks for the DP!

Brian
Brian

Transfer

Steve
Steve

Data Point:

7/20: Opened account, funding $600 with Citi DoubleCash (purchase)
8/2: 10 debits accomplished
8/2: $1,000 DD received from Discover
8/6: Both $100 bonuses posted

Stephen
Stephen

What does does Discover coded as? Ext Transfer?

Steve
Steve

The transaction had my full name followed by ONLNE TRNSFR88850032 – P2P

Stephen
Stephen

Thanks Steve!

Brian
Brian

I’m assuming any transfer of $1,000 triggers the bonus. MI folks need to jump on this one before it expires.

Brian
Brian

Another interesting thing to note – I received an adversarial notice in the mail from CU One. The form was probably automatically generated because my account is perfectly fine and I got the $200 bonus. It mentioned too many inquiries and new accounts opened and it sounded like my “loan application” was denied when I didn’t apply for a loan in the first place.

Wisco
Wisco

push transfer from chase counted as DD. Transfer for $1k from chase hit CU One checking on 8/6, $100 bonus posted 8/8. Haven’t even received my debit card yet so it had to have been for the DD requirement.

illini_knight
illini_knight

I funded $600 with Citi TY Premier and did not code as cash advance (CA limit set to 0). Transfer of 1K from Old National Bank triggered $100 direct deposit bonus, and 10 .50 Amazon reloads triggered $100 debit card bonus. DD received on Aug 17 and reloads posted on Aug 18, $200 bonus (in two separate entries) posted on Aug 20. Super easy!!!

Superchurn
Superchurn

DP:

Silently declined due to out of state ID. They didn’t even have the courtesy to communicate the denial, had to call in and find out what the status was.

Unimpressed.

Ryan
Ryan

Were you able to open it up and then it was closed down after? Did you use an out of state address?

Superchurn
Superchurn

Nope, it was never open apparently. Used in-state address, but they wanted ID which was out of state.

Dylan
Dylan

Bonus Information:

8/22/18 Opened account. Used bank transfer so no info for credit card funding.

8/29/18 Direct deposited $1001 from Community Financial Credit Union in Michigan

8/30/18 First $100 Posted

9/11/18 Made 10 amazon 50 cent reloads to meet the debit card requirement.

9/12/18 second $100 bonus posted.

These bonuses posted ridiculusly fast, basically the next business day they were met. Now i’ll have to wait until november to close the account to avoid the termination fee.

Toad
Toad

William Charles looks like this one is back until the end of October.

Kevin
Kevin

Processor shows Amex logo when I type the card number but then I get “valid credit card number required” when I click done.

Any ideas to get it to go through?

Vulnox
Vulnox

Is CC funding Discover/MC only? I am working on MSR on AMEX Platinum, $600 would help if it doesn’t code as CA.

dudeious
dudeious

just tried to open, got a message at after funding saying i’ll be contacted in 2 business days after they review my application. anyone else get this?

Brett Billington
Brett Billington

Just got the same message. Visa funded. MI address.

dudeious
dudeious

account successfully opened today.

Joe
Joe

Same for me, funded with my Citi Double Cash. MI address.

dudeious
dudeious

account successfully opened today.

BW
BW

Anybody denied for chex yet?

dudeious
dudeious

not me and i’m 67/24.

Dylan
Dylan

Wait, 67 bank accounts in the past 2 years?

Damn…

dudeious
dudeious

suntrust is the only bank so far to give me issues.

Sarah D
Sarah D

Do you ignore/lie for state residency requirements?

nick
nick

Hey, I am very new to this so please help me out if you can. Does anyone know if the direct deposit has to be ONE single $1,000 deposit, or could it be split into $125/week DD’s to meet the “$1,000 within 60 days” requirement? Thanks in advance!

Jeff
Jeff

Opened account on 10/5 and funded with $1k via Chase & did 10x .50 Amazon reloads on 10/9 but still haven’t received the bonuses for each. Subscribed to E-Statements, too. Have they stop paying out quickly?

dudeious
dudeious

seems like it, i read about the quick payouts and applied just like you, but still haven’t seen any bonus post.

Jeff
Jeff

What dates did you do DD and 10x debits?

dudeious
dudeious

oct 10, been 9 days now.

TCW
TCW

The question is whether they stopped paying out quickly or stopped altogether for people who aren’t using real direct deposits from an employer.

MCT
MCT

One of the verification questions was kind of tricky. They asked for the name of my previous employer and one of the answers intentionally changed a letter of my previous employers name. I had to do a search to find out if they ever spelled the name of the company like that.

Reech
Reech

Opened 10/1
Pushed $1000 from Discover 10/11
Still no bonus. Will try Amazon reloads soon but still, what gives?? Looks like they’re cracking down?

Joe
Joe

Any update? I’m in the same boat and am debating calling this week.

Reech
Reech

Nope, nothing has changed. Still no bonus.

TCW
TCW

I tried push from Discover and Chase three weeks ago. Data points above from July and August say both should work. Still no bonus. I agree it does look like they have cracked down. I will try Paypal push as well, but this appears to be dead unless you have a real direct deposit from an employer.

@Joe, if you do call in, please post the results.

Reech
Reech

Just got my bonus for DD! 11/6/2018

dudeious
dudeious

joined sep 30 and completed requirements, was told by a rep in marketing today that the bonuses will pay out in november despite the terms saying bonuses will pay out within 7 days after completing offer.

Jeff
Jeff

It’s now November and still haven’t gotten both $100 bonuses yet despite meeting terms. Looks like a CFPB complaint in the near future.

LWT3
LWT3

Did you use a real direct deposit or an ACH push from another bank? If you had a real direct deposit, you should be in good shape.

Jeff
Jeff

$1k push from Chase.

dudeious
dudeious

just received my 2 $100 reward credits today.

Jeff
Jeff

Same here! Thanks for posting. Checked my account and both posted yesterday on 11/6.

Joe
Joe

Me too. Now to wait for 90 days so I can close this account.

TCW
TCW

Can anyone comment on how to close this? Phone, chat, etc.? I haven’t reached 90 days, but I’ll eat $5 and consider this a $195 bonus.

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