Desert Financial Credit Union: Score $200 Just for Switching Your Checking Account

If you live in Arizona and have been thinking about switching banks, Desert Financial Credit Union is offering a solid $200 bonus to new members. It's one of those deals that's straightforward enough to actually follow through on — no complex hoops, just a few clear steps. Let me break down exactly what you need to do to pocket that cash.

What You Need to Do for the $200

The process is refreshingly simple. First, you'll open a Free Checking account along with a Membership Savings account (that one requires a $25 minimum deposit). Then, within 60 days of opening, you need to set up a single direct deposit of at least $1,000 into the checking account. That's it for the money part — no multiple deposits or minimum balances to maintain.

You also have to enroll in eStatements. That's just a matter of logging into online banking and flipping a switch, so it's hardly a hassle. Once all three conditions are met, Desert Financial will deposit the $200 bonus into your checking account by the 10th business day of the month following the end of that 60-day window.

One thing to note: you must open the account using the promotional link on their site, or mention the offer when you call or visit a branch. Don't just walk in and open an account without saying the magic words, or you might miss out.

• Open a Free Checking and Membership Savings account (Savings needs $25 minimum).
• Receive a single direct deposit of $1,000 or more within 60 days.
• Enroll in eStatements.
• Use the promo link or mention the offer when opening.

Who Can Get This Bonus?

This offer is for new Desert Financial members only. That means you can't currently have an account with them, and you can't have closed a membership in the last 12 months. Joint account owners of existing checking or savings accounts are also out of luck.

You need to be at least 18, have a valid Social Security Number or Taxpayer Identification Number, and meet the credit union's membership eligibility. Membership is open to people who live, work, worship, or attend school in Gila, Maricopa, or Pinal Counties in Arizona. If you don't fit that, but your immediate family member does, you can still join through them.

Oh, and employees of Desert Financial and their immediate family aren't eligible. Sorry, folks.

A Few Things to Watch Out For

The $200 bonus is considered taxable income. Desert Financial will send you a 1099-INT form, so plan accordingly come tax season. It's not a huge deal, but don't spend that $200 twice in your head.

Also, make sure your account stays in good standing. If it becomes delinquent by more than 30 days before the bonus is paid, you won't get the money. So keep up with any fees or overdrafts.

You cannot combine this offer with any other account opening promotion. And while there's no early account closure fee mentioned, it's always wise to keep the account open for a few months after you get the bonus, just to be safe.

One more thing: the referral bonus ($100 per friend) is a separate program. If you're interested in that, check their refer-a-friend page. But you can't stack it with this $200 new member offer.

• Bonus is taxable — you'll get a 1099-INT.
• Account must not be delinquent by 30+ days before bonus pays.
• Can't combine with other offers.
• No early closure fee mentioned, but play it safe.

Bottom Line

• Earn $200 by opening a Free Checking account with a $1,000 direct deposit and eStatements.
• No monthly fees on the checking account, and only a $25 minimum for the savings account.
• Must be a new member and meet Arizona residency or family eligibility.
• Bonus posts within about 2-3 months after you meet requirements.
• Soft pull on credit — no impact on your score.

Common Questions