[Military Only] Grow Financial Federal Credit Union $300 Checking Bonus

Update 12/30/25: Terms no longer state FL, SC only.But need to be active or retired military persons:

“There are many ways you can qualify to become a member with Grow! A few of the most common ways include being active or retired military, currently working for one of our Select Employee Groups or as MacDill Air Force Base Civilian Personnel, and if you have an immediate family member or live in the same house who qualifies for membership or is currently a member!”

Offer at a glance

Maximum bonus amount: $300

Availability:

Direct deposit required: Yes, no minimum

Additional requirements:

Hard/Soft Pull: Soft pull

Chex Inquiry: Yes

Credit Card Funding: Yes, $500 Limit

Monthly fees: $5

Early account termination fee: None listed

Household limit: None

Expiration date: None

The Offer

Direct link to offer

Grow Financial Federal Credit Union is offering a $300 checking bonus and complete the following requirements:

two $500 direct deposits within 90 days of opening

The Fine Print

To qualify for the bonus, you must open a Grow CashBack Checking or Grow Checkless Checking Account, set up a monthly electronic direct deposit to the account, and register for online banking.

There is not a minimum balance to open the account or obtain the bonus.This offer is not available to existing Grow Financial members, and only one bonus will be paid per member.

This offer is limited to individuals residing in Florida or South Carolina only.

After you have completed all requirements, we will deposit the bonus in your account within 60 days.To receive the $300 bonus, the enrolled checking account must not be closed or restricted at the time of payout.

This offer is effective as of 09/18/23 and subject to change without notice at any time.

The bonus is considered interest and will be reported on IRS Form 1099-INT.

All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Grow checkless account has a $5 monthly fee.

This is waived if you do any of the following:

You are a minor (younger than 18 years old)

You have a Grow Checkless Checking Account

You have a Grow loan

You have a Grow Visa® credit card with 5 or more
monthly transactions or an outstanding balance

You have a Health Savings Account (HSA)

You maintain an average monthly account balance of $200 or more (average monthly balance is defined as the average balance for all shares)

You maintain an average monthly balance across multiple accounts of $400 or more (multiple accounts is defined as having two or more primary membership accounts)

Early Account Termination Fee

According to the fee schedule, there is no EATF.

Our Verdict

Previously the best bonus was $200 with no direct deposit required.This is an extra $100 but obviously with the direct deposit requirement and we don’t have any datapoints on what has worked in the past.

Useful posts regarding bank bonuses:

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Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.