[MI] Honor Credit Union $250 Checking Bonus


Update 6/19/21: Deal is back and seems to be back for all Michigan. Hat tip to Drew J

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Michigan, need to be resident as well.
  • Direct deposit required: Yes, $100 monthly minimum
  • Additional requirements: None
  • Hard/soft pull: Hard (Transunion)
  • ChexSystems: Unknown
  • Credit card funding: Have to pay a $15 fee, maximum is unknown but at least $2,500
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: January 31st, 2019

The Offer

Direct link to offer

  • Honor Credit Union is offering a bonus of $250 when you open a new benefits or connect checking account and complete the following requirements:
    • Open with a minimum deposit of $25
    • Have at least one direct deposit totaling $100 per month (must be received within 60 days of account opening)
    • Conduct 6+ debit card transactions within 60 days of checking account opening

The Fine Print

  • $250 paid when new or existing member opens a checking account with a minimum deposit of $25, has at least one direct deposit that totals $100 per month and conducts 6+ debit card transactions within 60 days of checking account opening.
  • Bonus will be paid within 30 days of minimum requirements being met.
  • New account must remain open and maintain a positive balance for at least 90 days.
  • If criteria is not met, $250 bonus will be withdrawn from account.
  • New members must open account at honorcu.com/jointhefam or a local member center location.
  • Existing members must open new checking account at member center location and specifically mention the $250 offer at time of opening.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Benefit checking has no monthly fees to worry about

Early Account Termination Fee

I wasn’t able to find a fee schedule so I’m unsure if any early account termination fee is charged or not.

Our Verdict

Benefit checking account used to earn 5% APY, now it’s sadly only 3% so I wouldn’t recommend that considering the better high yield savings accounts out there. This bonus is OK, but sadly it’s a hard pull to open the account so won’t be worth it for most people. Because of that I won’t be adding this to our list of the best checking bonuses

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