Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $250
- Availability: Michigan only, maybe nationwide?
- Direct deposit required: Yes, see below
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: 2/28/22
Contents
The Offer
- MSUFCU is offering a bonus of $250 when you open a new checking account and complete the following requirements:
- Receive a qualifying direct deposit of at least $500 weekly, $1,000 biweekly or $2,167 monthly (first qualifying direct deposit must be made by 4/30/22, second qualifying direct deposit must be made by 5/31/22)
- Activate debit card by 3/31/22 and make 10 debit card purchases within 30 days of account opening
- Have at least $1,000 balance in the MSUFCU savings account by 3/31/22
The Fine Print
- For more information on all offers, visit msufcu.org/gospecials.
- All offers available 1/1/22 to 2/28/22 for accounts in good standing.
- Offer valid for new MSUFCU checking accounts with qualifying direct deposit. Current members without an existing checking account are eligible when opening a checking account with qualifying direct deposit. Must add qualifying direct deposit of at least $500 weekly, $1,000 biweekly, or $2,167 monthly to MSUFCU checking account between 1/1/22 and 2/28/22. First qualifying direct deposit must be made by 3/31/22. Second qualifying direct deposit must be made by 4/30/22. MSUFCU Visa Debit Card must be activated by 2/28/22 and 10 debit card purchases must post within 30 days of activation. Must have at least a $1,000 balance in an MSUFCU savings account on 2/28/22.
- $250 will be deposited into member’s new checking account within 8 weeks of meeting all qualifications.
- A qualifying direct deposit is a recurring electronic deposit of your net paycheck, pension, or government benefits (such as Social Security) from your employer or the government.
- Examples of non-qualifying transfers and deposits include P2P services like Venmo, Paypal, Square, or any transaction that is a refund or transfer from another financial services such as an investment transfer, college tuition refunds, and federal/state/municipal refunds. Not valid with any other deposit or checking offers.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Totally green checking account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any early account termination fee or not.
Our Verdict
Not sure if it’s restricted to that one branch or not. Upside is you should be able to ask if it’s a hard or soft pull.
Hat tip to reader Celia
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
Going to try this one. Anyone have a referral code so we each get $25? Please drop your email and I’ll email you for it. Thanks!
Ost0023 gmail
Never closed this account after receiving bonus.
Got this email today:
“If your paycheck is currently going to another financial institution, you’re missing out on a $100 bonus! Ask your payroll department about switching your direct deposit to your MSUFCU checking account instead. It’s a simple process and there’s $100 waiting for you when you make the change now through December 9, 2023. Simplify your finances and enjoy the benefits of accessing your money when you wake up on payday.
Set up direct deposit today and receive $100!”
Looks like another easy $100 in the bag
P2 also got the offer but the terms are rather unclear imo. From the email:
“Offer valid 10/10/23 to 12/09/23. Member must set up direct deposit with their existing checking account and must have three consecutive electronic deposits each with a minimum deposit of $1000 in aggregate which remain in the account for at least 90 days. First direct deposit must be set up and deposited into your MSUFCU checking account by 12/09/23. Bonus of $100 will be deposited to the member’s savings account within 90 days of promotion end date.”
On one hand it says the first of three $1K deposits must post by Dec. 9, and the bonus will be paid within 90 days of the promo end date (assumed to be Dec. 9). However, it also says that each $1K must stay in the account for 90 days.
So if only the first $1K needs to post by Dec. 9, how long do you have for the 2nd and 3rd $1K DDs to post? And if the 2nd and 3rd DDs can post after Dec. 9, and each of those deposits must stay in the account for 90 days to receive the bonus, how could the bonus be paid within 90 days after Dec. 9?
If you have to park each $1K for 90 days, the $100 bonus works out to a 13.33% APY which is nice. Compared to parking that money in a 5.25% savings, it’d be like getting an extra $60. Worth doing but since I was lazy and never messaged MSUFCU for clarification, we probably won’t bother now.
Do you have a referral code you want to share (we both get $25)?
Do you have a referral code you want to share (we both get $25)?
Yes, please email at ost0023 gmail
P2’s DP:
3/2/2022 – Opened Online (No funding)
3/4/2022 – $2200 Deposit Real Brex
3/22/2022 – 10x 50c Amazons
4/8/2022 – $2200 Deposit for good measure
5/4/2022 – SM asking about Bonus said it would post EOM
6/6/2022 – Chatted stated 1-3 Days sent to Marketing
6/10/2022 – SM reply from 5/4 still awaiting
6/13/2022 – SM back and Bonus Posted in Checking
Had to baby sit this one…. But paid off.
I went through the same issue and had to contact them three separate times. Opened account in February, bonus finally posted. They had to manually deposit the money into the account because the $0.50 Amazon GC do not count as “purchases.” Had to have a manager review.
P1 did receive a referral bonus of $25 for P2’s referral (3/2 P2 signed up and 4/26 – Pd). Nothing for P2 but that was within the terms. Memory serves me I added a manual comment in P2’s application referring my referral code or something and referencing the other Bonus.
Looking back at it, I believe the typically don’t stack, since P1’s referral Paid out without intervention why P2s 250 Bonus had to complain. Either way 525 in 2 player mode.
9/30 Closing over SM. Apparently it cost $5 to write a check so it negates the $5 in the shared. You can donate to charity which is the option i went with for both P1 and 2.
Applied 2/10 got approved 2/11. Set up DD $1,000 biweekly. 4 employer DD’s of $1,000 have deposited, still no $250 bonus. Do I need to call them? I did put the $250 bonus in the notes when signing up, and I bought 10 $0.50 amazon e-gcs.
You can call if you want. But, might want to check your dates:
“$250 will be deposited into member’s new checking account within 8 weeks of meeting all qualifications.”
Since this was a branch-specific promo, I will be surprised if anyone gets the bonus. Hope it works out!
What do you guys buy for the 10 transactions on the debit card? Is there a minimum purchase requirement?
50cent amazon works
3/1 – Signed P2 up using the $250 code and a referral code. In attempts to Stack.
3/2 – Was approved But they noted my high number of Chex would impact other items like CC applications. But I wasn’t denied. I think because I was referred and close to a branch.
Started the Monthly $2200. Using Payroll. Will check back to see if P1 got the referral.
During the application it actually asked for the referral code that was sent so that was nice. Like P1 I manually entered the referenced to the $250 on the application on the last page in the notes.
update?
P1
2-2 – $2200 push real dp Brex
2-2 – 10 50c amazon reloads
3-3 – $2200 push real dp brex
Since the close of the 2m isn’t here I don’t expect a payout till April. Maybe may being more on the later side.
P2 referral still doesn’t show up either. But I’ll give it more time. If anyone wants a referral email intarray at gmail
Update bonus posted
3-25 – $250 posted on checking. Grand opening special promotion
No referral bonus, possible it pays out later or doesn’t stack.
Any DP’s on confirmed working DD’s?
Extended to 3/31/22
l.e. The debit card needs to be activated by, and and the savings account needs to be funded with a $1000 by 3/31/22
Denied due to “a concerning number of inquiries” on my Chex and credit reports. I actually didn’t have a Chex inquiry yet this year so I thought I had a decent chance of approval. My Chex numbers were: 0/1, 2/3, 7/6, 19/12. Also, I am OOS but they didn’t mention that as a factor in their decision.
referral code: [removed]
approved OOS from CA with lol/24. I mentioned the bonus and a $25 referral in the “notes” section at the very end of the application before submission. Took one day to get approved as well. No mention of Chex. No HP. I’m trying to stack with a referral from
AllenW .
My referral code: [removed] or email ost0023 gmail for a referral email if you found this useful. Mention this in the “notes” section. TIA!
PS. I used a $10 donation to Desk Drawer Fund for eligibility requirements
.
I referred my P2 today, and saw it state no referrals completed, is your acc still okay?
OST
I dont think this stacks with referrals Did you get anything. I referred P2 and didnt get anything also the 250 hasnt shown up lol
Yup, I will contact them regarding the $25 from P1’s acc. After 3 msgs, I got P2’s $250 bonus posted. Had to threaten to file a complaint though 🙁
I am probably missing your $25. Not sure if Im going to fight yours..
My guess is they changed something after you got yours and that’s why me and your p2 didn’t post automatically. Lol send them a msg for $25, why not? Email me if they ask for my details.
AllenW