Published on May 5th, 2018 | by William Charles15
[Expired] [MI only] Michigan Schools and Government Credit Union $175 Checking Bonus
This bonus is no longer being offered. Click here to view the best current checking bonuses.
Offer at a glance
- Maximum bonus amount: $175
- Availability: Must reside, work, attend school, or worship in Michigan’s lower peninsula
- Direct deposit required: Yes, $100+ within 60 days
- Additional requirements: See below
- Hard/soft pull: Unknown (possibly hard, see comments). Report of soft pull
- ChexSystems: Unknown
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: Six months or bonus forfeit
- Household limit: None listed
- Expiration date: October 31st, 2018
- Michigan Schools & Government Credit Union (MSGCU) is offering a bonus of $175 when you open a new checking account and complete the following requirements:
- Make a one-time deposit of $100 within 7 days of opening your account
- Complete 20 purchases with your MSGCU debit card within 60 days of account opening
- Sign up for eStatements and Online Banking
- Set up your direct deposit of $100 or more to your new checking account. Must be received within 60 days of opening your account
The Fine Print
- Available for regular checking accounts opened between 5/1/2018 and 10/31/2018; limited to one incentive per member.
- The $175 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 $100) to the new 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 checking account or have closed a regular checking account as of 4/1/2018 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
This account has no monthly fees to worry about. You do need to keep the account open for six months otherwise you will forfeit the bonus.
They have offered a bonus of $100 in the past, so this is better than that. It’s nice there are no monthly fees to worry about, but there are a lot of bonus requirements. Might be worth doing if it’s a soft pull, especially if you can fund a decent amount with a credit card. If anybody decides to go for this bonus then please share your experiences in the comments.
Big thanks to reader, SirEel who let us know. Learn how to find bonuses and contribute to the site here.
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