Blue Federal Credit Union is offering a sweet $500 bonus for opening a new checking account. However, there's a catch: it's now limited to residents of Colorado (CO) and Wyoming (WY), and you likely need to open it in person. To snag the bonus, you'll need to set up direct deposits totaling $500 or more within the first 90 days. Plus, keep in mind you must be a permanent US citizen to open online.

Here's where it gets tricky: Blue FCU is known to be very sensitive to ChexSystems. ChexSystems is like a credit report for bank accounts, and if you've opened too many accounts recently (more than three in the last six months, it seems), you might get denied. So, this bonus is really only attractive if you live in CO or WY, haven't been on a bank bonus spree lately, and can make the direct deposit requirement.

While the original "Doctor Of Credit" article mentioned a "Blue Friday" bonus, it's expired. The current offer is $200, plus a BruMate Hopsulator Trio (available in-branch only, while supplies last), for new referred memberships, but only if you're maintaining a $500+ direct deposit within the first 90 days. If you meet the strict criteria, this could still be worth your while. Make sure to check for any early account termination fees to avoid surprises down the road.