Score Up to $250 with Red Canoe Credit Union's Latest Offers (WA & OR)

If you live in Washington or Oregon, Red Canoe Credit Union has a couple of fresh promotions that could put some extra cash in your pocket. They're offering a $250 bonus for opening a new business checking account, plus a referral program that pays both you and your friend $100 each. Let's break down what you need to know to snag these bonuses.

The $250 Business Checking Bonus: What You Need to Do

This one's for entrepreneurs and small business owners. To qualify, you'll need to become a new business member of Red Canoe Credit Union and open a business checking account. The requirements are pretty straightforward: you must be at least 18, sign up for eStatements, and complete one qualifying transaction within 45 days of opening the account.

Qualifying transactions include things like ACH debits or credits, check clearings, bill payments, or debit/credit card purchases—both online and in-store. ATM transactions, cash deposits or withdrawals, and transfers between your own accounts don't count. Once you've met all the conditions, the $250 bonus will be deposited into your account after 45 days.

There's a $5 minimum balance to open the account, and the offer is limited to one per tax ID. It's not available for existing business account holders or consumer accounts. Also, keep in mind that ACH and Remote Deposit Capture services have their own fees, though business ACH monthly fees are waived for the first three months.

The $100 Referral Bonus: Share the Love (and the Cash)

If you're already a Red Canoe member, you can earn $100 by referring a friend or family member who opens a new checking account. And your friend gets $100 too—so it's a win-win. The referral must be done in person at a branch in King or Pierce County in Washington, or in Albany, Oregon.

To trigger the bonus, the new member needs to either set up a direct deposit or make 10 debit card transactions within 45 days. Alternatively, they can open a loan with a balance. Both you and your friend must be at least 15 years old, and the new member can't already have an account with Red Canoe.

This is a great way to spread the word about a credit union that's been around since 1937. And since it's a not-for-profit cooperative, any earnings go back to members—not shareholders.

What to Watch Out For

Before you jump in, there are a few things to keep in mind. First, the business bonus is only for new business accounts—so if you already have a business checking with Red Canoe, you're out of luck. Also, the promotional period is limited and could be changed or ended at any time, though if you've already qualified, you'll still get the bonus.

For the referral bonus, you can't combine it with any other offers. And it's only valid at specific branches, so check the location list before you start spreading the word. Also, note that the $250 business offer requires a $5 minimum balance and eStatements—easy enough, but don't forget to enroll.

Finally, while there's no early termination fee listed, it's always smart to keep the account open for at least a few months after getting the bonus to avoid any potential issues.

Bottom Line

• Red Canoe Credit Union offers $250 for new business checking accounts and $100 per referral for personal checking.
• Business bonus requires one qualifying transaction within 45 days and eStatements; referral bonus needs direct deposit or 10 debit transactions.
• Offers are limited to WA and OR residents, with referral only at specific branches.
• No early termination fee, but keep account open to be safe.

Common Questions