Score Up to $300 with Financial Plus Credit Union's Checking Bonus – Here's How

If you're in Michigan and looking to give your wallet a little boost, Financial Plus Credit Union has a deal that's worth a look. They're offering up to $300 just for opening a new checking account and setting up direct deposit. It's a straightforward way to earn some extra cash while switching to a credit union that's been around since 1952. Plus, if you refer a friend, you both get $50. Let's break down exactly what you need to do.

What's the Deal?

Financial Plus Credit Union is running a promotion where new members can snag a $300 bonus. All you have to do is open a qualifying checking account and set up a monthly direct deposit of at least $1,000 for two months in a row. If that's a bit steep, there's also a $150 bonus option if you can manage $500 per month for the same period. The bonus lands in your account within 30 days after you've met the requirements.

You'll need to use the promo code "Summer26" when you apply. And yes, this is for new checking relationships only, so if you've already got an account with them, you're out of luck. But if you're new to Financial Plus, you're golden.

• Open a new checking account with code Summer26
• Set up direct deposit of $1,000/month (for $300) or $500/month (for $150)
• Maintain the direct deposit for two consecutive months
• Bonus is deposited within 30 days after meeting conditions

A Few Things to Keep in Mind

First off, this offer is only available to folks in Michigan. Financial Plus has branches throughout the state, so if you're nearby, it's a no-brainer. But if you're outside MI, you'll need to look elsewhere.

The monthly fee varies by account type. The Free Checking account has no monthly fee, which is great. But if you opt for something like the Go-To Checking or Benefits Plus Checking, there could be fees up to $20. However, those fees are usually waivable if you meet certain conditions like maintaining a minimum balance or setting up direct deposit. Since you're already doing direct deposit for the bonus, you'll likely avoid those fees anyway.

Also, the bonus is considered taxable income. You'll get a 1099-MISC form for the bonus amount, so set aside a little for Uncle Sam come tax time.

• Only for Michigan residents
• Monthly fees can be avoided with direct deposit or minimum balance
• Bonus is taxable (1099-MISC)
• Cannot combine with other offers

Don't Forget the Referral Bonus

If you're already a member or become one through this deal, you can refer friends and family. Both you and your friend get $50 each. The friend needs to open a new checking account, enroll in e-documents, and make their first direct deposit. There's no limit on how many people you can refer, so if you've got a big network, you could rack up some serious cash. Just make sure the referring member is in good standing.

• You and your friend each get $50
• Friend must open checking, enroll in e-documents, and make first direct deposit
• No limit on referrals
• Bonus deposited within 30 business days

Bottom Line

• Open a new checking account with code Summer26 and set up direct deposit of $1,000/month for two months to earn $300.
• If $1,000/month is too much, the $150 bonus requires only $500/month for two months.
• Refer friends for an extra $50 each – no cap on referrals.
• No minimum opening deposit, soft credit pull, and ChexSystems not checked – great for those with less-than-perfect banking history.
• Only available in Michigan, so out-of-staters need to look for other offers.

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