Fairwinds Credit Union $100 Referral Bonus

Update 2/7/22: Deal is back and valid until April 30, 2022.

Update 11/25/21: Deal is back until 12/31/21. Keep in mind the strengthen direct deposit requirements below.

Update 8/14/21: Looks like the direct deposit requirement has been strengthen, now states:

Your qualifying direct deposit needs to be an Automated Clearing House (ACH) deposit of your paycheck, pension, or government benefits (including Social Security) from the government or your employer. Person-to-person transfers (such as Zelle, PayPal or Venmo) and bank transfers between your FAIRWINDS or any other accounts you have at other financial institutions or brokerages do not qualify.

Update 7/19/21: Looks like this is actually available nationwide.

Offer at a glance

Maximum bonus amount: $100
Availability: FL only
Direct deposit required: Yes, $200+
Additional requirements: Be referred
Hard/soft pull: Soft pull
ChexSystems: Yes
Credit card funding: Up to $500 via credit card
Monthly fees: None
Early account termination fee: None
Household limit: None listed
Expiration date: None listed

The Offer

Direct link to offer

Fairwinds Credit Union is offering a $100 referral bonus when the person being referred opens a Spending or Checking Account and completes a direct deposit of $200 or more

The Fine Print

Your qualifying direct deposit needs to be an Automated Clearing House (ACH) deposit of your paycheck, pension, or government benefits (including Social Security) from the government or your employer. Person-to-person transfers (such as Zelle, PayPal or Venmo) and bank transfers between your FAIRWINDS or any other accounts you have at other financial institutions or brokerages do not qualify.
In order for both the referred individual and the referring FAIRWINDS member to each qualify for and receive the $100.00 referral reward, the following conditions must be met: The referred individual may not have previously been an owner on or a party to a FAIRWINDS account; the referred individual must open a new FAIRWINDS consumer Spending or Checking Account during the eligible program period; the referred individual must open the new account using the referring FAIRWINDS member’s unique referral link; and the referred individual must receive in the new Spending or Checking Account a qualifying direct deposit of $200.00 or more (excluding their new account deposit used to fund/open the account) within 45 days of opening. The qualifying direct deposit must be a deposit made by Automated Clearing House (ACH) deposit. The referring FAIRWINDS member must be in good standing with the credit union and must be an owner of a FAIRWINDS consumer Spending or Checking account in order to be eligible for a referral reward. FAIRWINDS Credit Union employees are not eligible to receive any referral program rewards.
Rewards that have been fully earned and qualified for will be paid to each party on or about the 15th day of the month following the deposit of the qualifying funds into the referred individual’s new Spending or Checking Account. Only one reward will be provided per referred individual. A referring FAIRWINDS’ member can only receive a total of up to $1,000 in referral rewards per calendar year. Referred individuals acknowledge that payment of the reward will result in the referring member’s knowledge of the referred individual’s establishment of a new account with FAIRWINDS.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Spend account has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find any mention of an early account termination fee in the fee schedule.

Our Verdict

Fairwind has offered generous personal & business credit card bonuses before, but we haven’t seen any bank account bonuses. If anybody has an account already then please feel free to share your experiences along with your referral details in the comments below.

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