Update 12/9/23: Deal now $100.
Update 11/7/23: Deal is now $150. Now requires 10 debit card transactions (was 5) of $10+ (previously no minimum).
Update 1/12/23: It looks like this is available nationwide if you’re a member of ACC (free to join). Hat tip to Ostrich Rider
Offer at a glance
- Maximum bonus amount: $150
- Availability: MN only. Must live, work, worship, or attend school in one of the following counties: Benton, Stearns, Sherburne
- Direct deposit required: Optional
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Yes, sensitive
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
Direct link to offer (referral | direct link)
- Great River Federal Credit Union is offering a bonus of $150 to both parties when an existing member refers a new customer and the following requirements:
- Open a new checking account
- Complete 10 debit card transactions of $10+ or receive direct deposit within 60 days of account opening
The Fine Print
- $100 bonus ($50 bonus for minor account referrals) will be deposited at or around the 15th of the month following 60 days after account opening.
- New members must sign up for one of the following within 60 days of account opening: 1) Checking Account with Direct Deposit 2) Checking account with 5 or more debit card transactions or 3) Any type of approved loan or credit card.
- $500 referral reward maximum per calendar year.
- Referred or referral accounts must not be negative at the time of the bonus deposit.
- $50 bonus available for minor accounts without above conditions.
- Referred member must not have had a previous membership at GRFCU to qualify.
- Subject to change or cancellation without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a checking account with no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee or not
Our Verdict
If you have a referral please feel free to share it in the comments, just let us know if it’s a hard or soft pull to open in the comments below. We won’t add this to the best bank bonuses until we have that information.
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
Anyone know the maximum amount of credit card funding they allow?
Unless it’s changed recently, “The rep that contacts you will say that “debit card” funding is capped at $1K. I used Citi Double Cash MC CC for funding, and it was treated as a purchase.”
Denied
Do you HAVE to have a referral, or is there some way to sign up without that?
Yeah, it’s in the post. https://www.greatriverfcu.org/new-member/
Way to be a team player!
I doubt that you will be approved. I was declined several months ago for Chex. You seem to comment in all new bonus posts so your Chex is probably just as bad as mine.
lol I’m famous
This is back down to $100 only
William Charles
Not enough $$ to get me to apply considering the hard pull and the seemingly recent increase in the possibility of denial due to Chex…
There is a ETF close account fee of $10 if closed within 6 months of opening
https://www.greatriverfcu.org/wp-content/uploads/2022/09/Fee-Schedule.pdf
Applied 11/10. Like others rec’d a rejection letter in the mail today (11/18) citing Chex. Debating attempting to call in on Monday to argue my case and try to get this one as it would be so easy.
Don’t bother. When I called in the other day, the woman told me that the decision was final.
I applied for an account with Great River last week and never heard back. I called in and they told me that I was declined for Chex. They said that I would be receiving a letter in the mail. It seems like they have gotten more strict as they declined both
G and me recently.
I don’t recall seeing a lot of Chex denials mentioned in this post although it’s possible that people just didn’t bother to report their negative experiences. My Chex stats before I applied were: 2/1, 6/3, 10/6, 17/12 and 30/24.
Applied OOS application went pending. A week goes by and a letter comes in the mail stating denial due to Chex. Chex is lol/24. Did not see a hard pull on any of my 3 credit reports.
Get a $150 bonus with a new checking account at Great River Federal Credit Union using promo code REFERNOV150. Join NATIONWIDE via the American Consumer Council (ACC) as part of the application process and enter MICHELLE BAUMAN as the referrer.
To qualify, enroll in online banking and eStatements and complete one of the following within 60 days:
1. Direct deposit of at least $200, or
2. 10+ debit card transactions over $10, or
3. Get any approved loan or credit card.
The rep that contacts you will say that “debit card” funding is capped at $1K. I used Citi Double Cash MC CC for funding, and it was treated as a purchase. They hard-pull Equifax and Chexsystems, but aren’t inquiry-sensitive. Bonus is deposited around the 15th of the month after 60 days from account opening.
What makes this one a winner is that a Direct Deposit is not mandatory, and that they are not Chex-sensitive. Feel free to reach out if you have questions: [email protected]
Presumably this increased bonus offer will end at the end of this month and return to the $100 offer. Details here: https://www.greatriverfcu.org/novmember-refer/
HP and Chex pull for $150. Pass.
What bank which does HP for 150$ bonus?
A small credit union in MN; that’s who. As long as you have well-established credit, hard credit pulls only cause a few points of FICO drop, which I believe goes away within 3 months. Anyone with a FICO score over 720-750 gets the best rates and premium offers from lenders. If you cannot handle it, that’s up to you.
Thanks for the detailed post.
By the way, are you related to Gadget ? wife, sister, daughter ?
Or Is that you only, Gadget?
You’re welcome. Wife/P2. Helper. 🙂
The new referral bonus is $150, up from $100. The promo code is REFERNOV150
Really straightforward bonus. In order to earn the $150 bonus, the new member must enroll in online banking and eStatements and meet one of three criteria:
1) Set up DD of $200 +
2) Checking account with 10 or more transactions of $10+
3) Any type of approved loan or credit card.
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