Snag a $200 Bonus from Credit Union ONE – Here’s How It Works

If you live in Michigan and have been looking for a straightforward way to pad your wallet, Credit Union ONE is offering a solid $200 bonus for new Cash Back Checking accounts. This isn’t your typical sign-up bonus—it comes as debit card rewards, but it’s cash you can use. Let’s break down what you need to do to qualify and a few things to watch for.

What You Need to Do to Earn the $200

First things first: you have to open the account in person at a Credit Union ONE branch. No online-only applications here. Once you’re in, the clock starts ticking—roughly two to three business days after opening, you’ve got 90 days to complete four steps.

Set up a direct deposit and have it hit your account. That’s step one. Next, register for digital banking through their app or online portal. Step three is simple: just keep the account open for the full 90 days. And finally, make sure your Mastercard debit card is active and ready to use. Do all that, and the $200 in debit card rewards will show up in your rewards balance by the fifth business day after the 90-day window closes.

Oh, and here’s a sweet extra: during those first 90 days, every qualifying debit card purchase earns double rewards points. So you’re stacking points on top of the bonus.

Avoiding That Monthly Fee

The Cash Back Checking account comes with a $6 monthly service fee, but you can dodge it pretty easily. You’ve got several options: keep a $500 average daily balance, set up an automatic deposit of at least $500 each month, or make 15 qualifying transactions (debit card purchases or bill payments) in a month. ATM withdrawals don’t count toward that 15. And if you’re under 25 or over 64, the fee is waived automatically.

Pick the one that fits your habits best. For most people, the direct deposit requirement for the bonus will also cover the fee waiver.

A Few Fine Print Gotchas

This bonus is per primary account holder, and you can only get it once—no repeat bonuses for opening additional Cash Back Checking accounts. Joint account owners aren’t eligible, so if you’re opening with a spouse, only the primary gets the $200. Also, you’ll be on the hook for any taxes on the bonus, so set a little aside if needed.

Credit Union ONE can change or cancel the offer at any time, so don’t drag your feet. And remember, you must open the account at a branch—no online applications accepted for this promo.

Bottom Line

• Open a Cash Back Checking account at a Michigan branch.
• Complete all four steps within 90 days: direct deposit, digital banking, keep account open, active debit card.
• Avoid the $6 monthly fee with a $500 balance, auto deposit, or 15 transactions.
• Bonus is paid as debit card rewards—check your rewards balance after the 90-day period.

Common Questions