Looking for an easy way to pad your savings? Community Choice Credit Union, a Michigan-based credit union with over 20 locations and a solid A health rating, is running a referral promotion that could put $200 in total cash in your pocket—$100 for you and $100 for the friend you bring on board. It's a straightforward deal, but like any bank bonus, you'll want to read the fine print to make sure you qualify.
Who Can Join and How to Get the Bonus
Community Choice Credit Union membership isn't open to everyone—you need to live, work, or worship in Michigan, or have a connection to certain employers like General Motors, Kelly Services, Conrail, or Amtrak. Immediate family of existing members also qualify. If you're in, here's how the referral bonus works.
To earn your $100 as the referrer, you must be 18 or older with a checking account in good standing. Once your friend opens a new account and mentions you referred them, you'll get paid after 30 days—on the Monday following that 30-day mark. Your friend's $100 comes a bit later: they need to keep their account open for 60 days and meet one of two conditions—either set up $300 in combined direct deposits or make 20 debit or credit Mastercard transactions within those 60 days. Their bonus lands on the Monday after day 60.
What to Watch Out For
This isn't a no-strings-attached deal. First, the $5.95 monthly fee on Choice Checking can be waived, but you'll need to look into how—usually by maintaining a minimum balance or setting up direct deposit. Also, the bonus is taxable; the credit union will report it to the IRS, so plan accordingly.
One more thing: you can't combine this with other promotions, and the credit union can change or cancel the offer anytime. Make sure your friend understands the requirements before they sign up—no one wants to miss out because they didn't hit the transaction or deposit targets.
Is This a Good Deal?
For Michigan residents, this is a solid opportunity. $100 for referring a friend is decent, and the friend gets a nice bonus too—especially if they're already looking for a new checking account. The soft pull means your credit score won't take a hit, which is always a plus. Just be aware that the 60-day wait for the new member's bonus requires some patience and planning.
If you're comparing to other bank bonuses, this one is on the smaller side, but it's low-effort if you have a friend or family member who needs a new account. And hey, free money is free money.
Bottom Line
- Refer a friend to Community Choice Credit Union and earn $100 for yourself and $100 for them.
- New members must complete $300 in direct deposits or 20 debit/credit transactions within 60 days.
- Membership is limited to Michigan residents, workers, worshippers, or those with specific employer ties.
- Soft pull on credit, so no impact on your score.
- Bonus is taxable—reported to the IRS.
Common Questions
Can I refer multiple friends?
There's no stated household limit, so you may be able to refer multiple friends, but each referral must meet the same requirements. Check with the credit union for specifics.
What if my friend doesn't meet the requirements?
If your friend doesn't complete the direct deposit or transaction requirements within 60 days, neither of you will get the bonus. Make sure they understand the terms before they apply.
Is there a minimum deposit to open the account?
The fine print doesn't specify a minimum deposit, but you'll need to fund the account to start using it. The $300 direct deposit requirement is separate from any opening deposit.
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