Blue Federal Credit Union Has $200 Checking Bonus

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Deal Summary: $200 checking bonus for new members

Availability: 11/29/2021 Update: Currently only available for in-branch application. Easy membership requirement

Rather than offering Black Friday deals, Wyoming-based Blue Federal Credit Union (Blue FCU) is offering several “Blue Friday” deals, including a $200 bonus for joining members who open a checking account with direct deposit. This offer is available now through December 10, 2021 to individuals “who have not held a Blue membership within the previous 90 days.”

As stated on the Blue Friday promotion page,

  • Direct Deposit must be applied within 90 days of opening for reward to be issued
  • Use promo code: BLUEFRIDAY

According to the fine print on the promotion page

$500 aggregate direct deposit must be credited within 90 days of account opening for benefit eligibility

Blue FCU has five checking accounts (Extreme Checking, EarnFive Checking, Basic Checking, uAccount Youth Checking, Health Savings Account), all of which qualify for the $200 bonus.

With no minimum balance requirement or monthly service charge, opening a Basic Checking account is probably the easiest way to earn the $200 bonus.

The EarnFive Checking earns 5¢ each time for each swipe (up to $25 each month) of a Blue MasterCard debit card.

The Extreme Checking account is a Rewards Checking Account that earns interest on qualifying balances up to $15k. The current tiered APYs (Sapphire, 2.00%; Gold, 1.50%; and Silver, 1.00%) have been in effect since early September, following a significant rate drop. All members automatically qualify for the Silver tier (1.50% APY), while the Gold and Sapphire tiers require more account relationships to qualify, determined by your Rewards For Life score.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00*%-$15kBlue Federal Credit UnionExtreme Checking Sapphire - Qualifying
OTHER TIERS: 0.05% $15k+
1.50*%-$15kBlue Federal Credit UnionExtreme Checking Gold - Qualifying
OTHER TIERS: 0.05% $15k+
1.00*%-$15kBlue Federal Credit UnionExtreme Checking Silver - Qualifying
OTHER TIERS: 0.05% $15k+
Rates as of January 24, 2022.

The Extreme Checking account must first meet the “criteria for earning dividend” requirements in order to qualify for one of the three tiered rates.

  • At least 10 debit card transactions per month.
  • At least one Direct Deposit, ACH or Bill Pay per month.
  • Be enrolled in eStatements.

Rewards For Life

The tiered rates are based on Blue FCU’s Rewards For Life program. As stated on the Rewards For Life page,

Our Rewards for Life program pays you more based on your participation in the credit union and your years of membership. Basically, the more you utilize Blue's services, the more rewards you'll enjoy—for life.

Each product and service is worth one point and years of membership and combined relationship balances varies in points awarded. Sapphire status requires 9+ points, with Gold requiring 6-8 points and Silver 0-5 points. A complete breakdown of the Rewards Points Structure is available on the website.

The Extreme Checking account is fee-free and has no minimum balance requirement. It is available as a personal account only and there is a limit of one Extreme Checking account per member. Nationwide ATM fees are refunded up to $28 per qualification cycle, with a $4 limit per transaction.

Availability

Headquartered in Cheyenne, Wyoming, Blue Federal Credit Union’s field of membership provides a way for almost all U.S. citizens and resident aliens to join.

Easy Membership – Joining the Blue Foundation qualifies for Blue FCU membership, regardless of employment or residency status. If you open an account and deposit $10, $5 will be used to set up your membership and the other $5 will go the Blue Foundation.

Employment – Active employees, members, volunteers, retirees, pensioners, or annuitants of nearly 1,200 Wyoming and Colorado businesses are eligible to join.

Military Relationship – Civilian and military personnel stationed at F.E. Warren Air Force Base qualify for membership, as do other military personnel. Complete details are listed on Blue FCU’s “Who Can Join” page.

Family Relationship – Family and household members of current Blue FCU members are also eligible to join.

Joining Blue FCU and/or applying for the $200 bonus can be done online, by phone (800.368.9328), or at any of seven Wyoming branches located in Cheyenne (6) and Laramie, or 11 Colorado branches located in Boulder, Broomfield (2), Denver, Erie, Fort Collins (3), Granby, Lafayette, and Wellington.

Establishing a new Blue FCU membership requires a minimum $5 deposit into a Primary Savings Account.

Blue FCU participates in both the CO-OP Share Branched and ATM networks, giving members access to,

over 5,000 shared branches, allowing you to bank in person almost anywhere. With
Blue, you’ll also have access to over 30,000 fee-free CO-OP ATMs across the country.

Credit Union Overview

Blue Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.54% (excellent) based on June 30, 2021 data. In the past year, Blue FCU increased its total non-brokered deposits by $182.77 million, an excellent annual growth rate of 15.85%. Please refer to our financial overview of Blue Federal Credit Union (NCUA Charter # 7361) for more details.

Blue Federal Credit Union was originally established in 1951 as the Warren Federal Credit Union, formed by civilian employees on the F.E. Warren Air Force Base in Cheyenne. The Credit Union was rebranded as Blue Federal Credit Union in April 2016, following a merger between Warren FCU and Community Financial Credit Union of Broomfield, Colorado. This merger was the second largest consolidation approved by NCUA in the first quarter of 2016. At the beginning of 2020, Blue FCU purchased two Liberty Savings Bank branches, expanding its footprint in Colorado, including its first branch inside Denver’s city limits. Blue FCU is currently the largest Wyoming-based credit union, with nearly 104,000 members and assets in excess of $1.5 billion

Bottom Line

With no hoops to jump through other than establishing the direct deposit, qualifying for Blue FCU’s $200 checking bonus is relatively easy. Checking bonuses have become more attractive in the past 18 months, as rates continue to be low. In short amount of time, a significant return can be realized that is not currently available in either a liquid account or short-term CD. There are no liquid accounts or CDs that currently return $200 on a small deposit in approximately 90 days. Earning $200 in an online savings account, with the current top rate of 0.65% APY, would require about $31k on deposit for a year.

The above information and rates are accurate as of 11/27/2021.

Don’t qualify for Blue FCU’s checking bonus? Check our list of the best savings and checking account bonus offers for a bonus that’s right for you.

Related Pages: Denver checking accounts, Cheyenne checking accounts, checking accounts, reward checking accounts, nationwide deals, bank bonuses

Comments
Infinityy
  |     |   Comment #1
Comments on another blog suggest that this credit union no longer accepts online applications. You have to apply in-person at a branch.
alan1
  |     |   Comment #2
I checked out Infinityy's statement by clicking on credit union home page to join.
https://www.bluefcu.com/join

took me to:
Welcome to Blue Federal Credit Union
We apologize that we are unable to complete your request online. Please visit one of our branches to open your account. To schedule an appointment click here.
https://ebranch.bluefcu.com/NewMember
alan1
  |     |   Comment #3
P.S. Thank you, infinityy.
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