Update 12/1/24: Deal is now $150. Keep in mind still nationwide if you’re a member of ACC. Hat tip to Gadget 
Bank Bonus Geek
Update 12/9/23: Deal now $100.
Update 11/7/23: Deal is now $150. Now requires 10 debit card transactions (was 5) of $10+ (previously no minimum).
Update 1/12/23: It looks like this is available nationwide if you’re a member of ACC (free to join). Hat tip to Ostrich Rider
Offer at a glance
- Maximum bonus amount: $150
- Availability: MN only. Must live, work, worship, or attend school in one of the following counties: Benton, Stearns, Sherburne
- Direct deposit required: Optional
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Yes, sensitive
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
The Offer
Direct link to offer (referral | direct link)
- Great River Federal Credit Union is offering a bonus of $150 to both parties when an existing member refers a new customer and the following requirements:
- Open a new checking account
- Complete 10 debit card transactions of $10+ or receive direct deposit within 60 days of account opening
The Fine Print
- $100 bonus ($50 bonus for minor account referrals) will be deposited at or around the 15th of the month following 60 days after account opening.
- New members must sign up for one of the following within 60 days of account opening: 1) Checking Account with Direct Deposit 2) Checking account with 5 or more debit card transactions or 3) Any type of approved loan or credit card.
- $500 referral reward maximum per calendar year.
- Referred or referral accounts must not be negative at the time of the bonus deposit.
- $50 bonus available for minor accounts without above conditions.
- Referred member must not have had a previous membership at GRFCU to qualify.
- Subject to change or cancellation without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a checking account with no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee or not
Our Verdict
If you have a referral please feel free to share it in the comments, just let us know if it’s a hard or soft pull to open in the comments below. We won’t add this to the best bank bonuses until we have that information.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times