Michigan's Our Credit Union Offers a $100 Bonus on Premium Checking – But There's a Catch

If you live in Michigan and are on the hunt for a solid bank bonus, Our Credit Union has a deal that might catch your eye. They're offering up to $100 when you open a new Premium Checking account. But before you jump in, there are a few things you should know – including a potential hard pull on your credit report. Let's break down the details so you can decide if it's worth your time.

What You Need to Do to Get the $100

The process is pretty straightforward, but you do need to hit a few steps. First, open a new Premium Checking account. Then, make sure you set up recurring direct deposits of at least $500 each month. You'll also need to use your debit card for at least one transaction per month during the first 60 days. And don't forget to enroll in eStatements – that's required too.

The bonus is actually a match on your opening deposit, up to $100. So if you deposit $50, you get $50. If you deposit $100 or more, you get the full $100. The bonus should show up about 60 days after you open the account.

The Fine Print You Shouldn't Ignore

This offer isn't available to everyone. If you already have an Our Credit Union checking account or closed one within the last 12 months, you're out of luck. Also, keep in mind that this promotion triggers a hard credit pull, which could temporarily ding your credit score. That's a bit unusual for a checking account bonus, so it's worth considering if you're planning to apply for a loan or credit card soon.

On the plus side, there are no monthly maintenance fees for the Premium Checking account, and no early account termination fee if you decide to close it later. Just make sure you meet all the requirements within the first 60 days to lock in that bonus.

Is This the Best Deal in Michigan?

Our Credit Union has been around since 1959 and is based in Royal Oak, with four locations across the state. They also boast CD rates that are significantly higher than the national average, which is a nice perk if you're into savings. But for the checking bonus itself, you might want to shop around. Other banks in Michigan, like Huntington, sometimes offer higher bonuses or have easier requirements.

If you're okay with a hard pull and can meet the direct deposit and debit card conditions, this is a decent way to earn $100. But if you're credit-score-conscious, you might want to pass and look for a soft-pull offer instead.

Bottom Line

• You can earn up to $100 by opening a Premium Checking account and meeting direct deposit and debit card requirements.
• The offer expires July 31, 2025, and is only available to Michigan residents who meet membership criteria.
• Be aware of the hard credit pull – it's a key downside compared to many other bank bonuses.

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