[MI] Community Financial Credit Union $1,000 Checking Bonus

Update 9/7/25: Deal is back until November 30, 2025.Hat tip to reader Avi

Offer extended until November 30th

Offer at a glance

The Offer

Direct link to offer

Community Financial Credit Union is offering of up to $1,000 checking bonus when you open a new checking account and set up direct deposit through February 2025:

$1,000 Bonus with monthly direct deposit of $10,001 or more

$500 Bonus with monthly direct deposit of $5,001 to $10,000

$300 Bonus with monthly direct deposit of $3,000 to $5,000

Direct Deposit must start within 8 weeks of account opening and continue through February 2025.

The Fine Print

Accounts must be opened by October 31, 2024.Direct deposits must be active within 8 weeks of account opening.Monthly direct deposit amounts must meet a tier’s minimum amount each month to qualify for the bonus.

One bonus per member.

Open only to new checking account holders.

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

Avoiding Fees

Monthly Fees

This is a free checking account has no monthly fees to worry about.

Early Account Termination Fee

According to the fee schedule there is a $15 fee if closed within 180 days.

Our Verdict

Great deal if you’re eligible for an account and have a large direct deposit to move over.The previous deal was for $750 without the high direct deposit requirements – see the comments on the prior posts to read experiences with the credit union.

Hat tip to reader killdozer

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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.