A $50 refer-a-friend bonus for both the referring member and the referee is better than the average refer-a-friend bonus. One downside is that it requires the referee to open a checking account with direct deposit.
Here's the Stanford Federal Credit Union promo link
Refer a family member, friend or co-worker, and when he or she opens a Stanford FCU checking account with direct deposit, you both will get $50.
Some more details:
- The referred member must open a Stanford FCU checking account with a minimum monthly direct deposit of $500 no later than 30 days of receiving the referral certificate
- Referral certificates must be completed and presented at the time of the account opening
- $50 will be provided as a deposit to the members’ accounts
Note, there's a reason why you might want a checking account at Stanford FCU.
If you're looking for good deals on CDs, you can get premium CD rates
(some are very competitive) if you have a checking account with a monthly direct deposit of $500 or more.
Second, the eChecking has no monthly service fees, ATMs are surcharge-free at CO-OP and Allpoint Networks, and the credit union is part of the shared branch network (see the Stanford FCU checking comparison page
Anyone can join this credit union via an association membership. According to the credit union's page Who Can Bank at Stanford
If you do not fall within our regular field of membership, you can join the Museum of American Heritage (MOAH) or Friends of Palo Alto Libraries (FOPAL) in order to become a member of Stanford Federal Credit Union.