The single-spin memory effect is considered within a minimal polaron model describing a single-level quantum dot interacting with a vibron and weakly coupled to ferromagnetic leads. We show that in the case of strong electron-vibron and Coulomb interactions the rate of spontaneous quantum switching between two spin states is suppressed at zero bias voltage, but can be tuned through a wide range of finite switching timescales upon changing the bias. We further find that such junctions exhibit hysteretic behavior enabling controlled switching of a spin state. Spin lifetime, current and spin polarization are calculated as a function of the bias voltage by the master equation method. We also propose to use a third tunneling contact to control and readout the spin state.

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