SkyOne's Big Business Bonus: A 1% Payout on Your Balance (Up to $50K)

Okay, let's talk about a business banking offer that's pretty straightforward but requires some serious capital to maximize. SkyOne Federal Credit Union is running a promotion where they'll essentially pay you a 1% bonus on money you park with them. The headline number is a whopping $50,000, but that's the absolute maximum. For most of us, the actual payout will be a percentage of what we can commit. It's a simple calculation, but the devil—as always—is in the details, especially around membership eligibility. Let's break it down.

How the 1% Payout Actually Works

This isn't a typical "do these five transactions" bonus. It's purely about your average daily balance over a 90-day period.

For a brand new business account, you need to fund it within 30 days of opening and then keep that money (or more) sitting there for the next three months. The key figure they look at is the average daily balance across those 90 days. You'll then get 1% of that average deposited back as a bonus.

If you're an existing SkyOne business member, you can still participate. The rules are similar but based on an increase. You need to deposit at least $100,000 more than your previous 90-day average balance, then maintain that higher level for a full quarter. The bonus is only calculated on the amount above your old average.

• New Accounts: Deposit & maintain ≥$100k for 90 days.
• Existing Accounts: Increase your balance by ≥$100k above your prior average and maintain it for 90 days.
• The math: (Your Average Daily Balance for 90 days) x 0.01 = Your Bonus.
• Hit the $5 million cap to get the full $50,000.

The Big Catch: Who Can Even Join?

Here's the crucial part you must check before getting excited. SkyOne is a credit union, so membership is restricted. This offer is for business accounts, but your business needs to be eligible for membership first.

Primarily, they serve people in the airline and air transportation industry—think employees, regulators, airport security, and related fields. If you or your business doesn't fit that description, there might be a workaround through a donation to an organization like the Surfrider Foundation, but you absolutely need to verify your eligibility directly with SkyOne. Don't assume you qualify; this is the most common stumbling block.

Practical Advice and Points to Ponder

A 1% return on a 90-day hold is an attractive annualized rate, especially for cash that's just sitting in an operating account. But it's not free money without considerations.

First, this is taxable income. SkyOne will report it as interest on a 1099-INT, so remember to set aside a portion for tax time.

Second, you're locking up a significant sum. Make sure this money isn't needed for other opportunities or expenses during that 90-day window. The account must stay open and in good standing until the bonus is paid, which could be up to 60 days after the qualification period ends.

Finally, while the offer terms are clear, always document your steps. Keep records of your initial deposit, the account opening, and your balance during the 90 days. It never hurts to have your own paper trail.

• Plan for taxes on the bonus amount.
• Ensure the funds are truly idle capital you won't need to touch.
• Confirm all eligibility requirements directly with the credit union before applying.
• Read the full offer terms for any potential changes or account fees that could apply.

Bottom Line

• This is a high-capital, simple-interest style bonus ideal for businesses with substantial liquid reserves.
• Membership eligibility is the primary gatekeeper—verify this first.
• The 90-day maintenance period is strict; moving money out early voids the bonus.
• The offer provides a solid short-term return on cash holdings with a clear, mathematical payout.

Common Questions