Posted by William Charles on September 30, 2018
Bank Account Bonuses

Published on September 30th, 2018 | by William Charles


[Expired] [MI only] Credit Union One $200 Checking Bonus

Deal has expired. If you want to view the best current checking bonuses, click here.

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

Offer at a glance

  • Maximum bonus amount: $200
  • 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

The Offer

Direct link to offer

  • Credit Union One is offering a bonus of $200 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


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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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.

Opened yesterday. $600 is max credit card funding.

Will they have hard/soft pull?

was it a hard pull or just chex pull?

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

Hard or soft pull when you opened?

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


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

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.

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.

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

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


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

What does does Discover coded as? Ext Transfer?

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

Thanks Steve!

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

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.

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.

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!!!


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.


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

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

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.

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

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?

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