Earn $100 for Each Friend You Bring to This Florida Credit Union

Hey there! If you live in certain parts of Florida and have friends or family who might need a new checking or savings account, listen up. MPS Credit Union has a referral program that's pretty straightforward: you both get $100 when someone you refer opens qualifying accounts. It's one of those rare 'everybody wins' situations in banking, and there's no cap on how many people you can refer. Let's break down exactly how it works and what you need to watch out for.

How the Double-Sided Bonus Works

This isn't just a one-sided deal where only you benefit. The person you refer gets the same $100 incentive, which is a nice perk for them and makes the 'ask' a lot easier. The core requirement is that your friend or family member opens two new accounts: a savings account and a checking account. For the checking account, they'll need to set up a recurring deposit of $300 or more each month to qualify. Alternatively, they could open a Share Certificate, which is the credit union's version of a CD.

Once those accounts are open, the clock starts ticking. They need to keep everything active for a full 60 days. If they close the accounts before that mark, neither of you gets paid. Assuming all goes well, you should see your $100 land in your account around the two-month mark after they signed up.

Important Fine Print and Considerations

While the offer sounds simple, a few details are crucial to understand before you start spreading the word.

• **Eligibility is Key:** Your referral must qualify for credit union membership. This primarily means living, working, or worshipping in one of the listed Florida counties. If they don't, they won't be able to join, and no bonus will be earned.
• **The Direct Deposit Requirement:** Although the bonus doesn't require *you* to have direct deposit, your referral's checking account does need that $300 monthly deposit to qualify under one of the paths. Make sure they're aware of this and can meet it.
• **Loan Bonuses Are Separate:** The offer also includes bonuses for referring people who take out certain loans. This is a completely separate track from the deposit account bonus. The loan has to close, and the bonus amounts differ based on the loan size.
• **Credit Check Unknown:** The source material wasn't clear on whether applying for these accounts triggers a hard or soft credit inquiry. It's always safe to assume a hard pull is possible when opening new deposit accounts, which can temporarily ding a credit score.
• **Promotion Can Change:** Like all bank offers, this one could be modified or ended at any time. Don't assume the terms will be the same next week.

Who This Makes Sense For (And Who Should Pass)

This is a fantastic deal if you're already a member and happy with MPS Credit Union. Encouraging people you know to join not only nets you some cash but also strengthens your local financial co-op. It's also great if you have a network of people in the eligible Florida regions who are already shopping for a new bank or a CD.

On the flip side, if you or your friends aren't in the service area, this is a non-starter. Also, if someone you're thinking of referring is iffy about maintaining a $300 monthly direct deposit or keeping accounts open for two months, it might not be worth the potential hassle or risk of them missing out on the bonus.

Bottom Line

• A true win-win: Both you and your referral get $100, making it an easy pitch.
• Geographic restrictions are strict; confirm eligibility before getting excited.
• The 60-day holding period is critical—closing early forfeits the bonus for everyone.
• Consider the separate loan referral bonuses if you know someone making a major purchase.

Common Questions