First Tech Federal Credit Union $350 Checking Bonus


Offer at a glance

  • Maximum bonus amount: $350
  • Availability: Nationwide (with an $8 membership to the Financial Fitness Association); [ChurningExperiences notes that First Tech may automatically reimburse you for the $8 membership]
  • Direct deposit required: Yes, 3 recurring direct deposits within 120 days
  • Additional requirements: See below
  • Hard/soft pull: Soft in my experience and recent DPs (an older Hard DP exists)
  • ChexSystems: Positive DPsSome Sensitivity (but maybe not)
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: December 31, 2022

The Offer

Direct link to offer

  • First Tech Federal Credit Union is offering a bonus of up to $350  when you open a new checking account using the promo code NEW2022
    • Receive a $200 bonus when you set up a direct deposit. Must be set up within 60 days of account opening and receive 3 recurring direct deposits within 120 days.
    • Get 10% of qualified purchases up to a combined total of $150 ($50 maximum per category). The three categories are: groceries, online streaming subscriptions, and food delivery.

The Fine Print

  • Offer valid for new members with memberships established between 05.01.22 and 12.31.22. First Tech employees are not eligible. Individuals are considered new members if they have not been the primary account owner on a Membership Savings account within the previous 18 months. Credit Union membership is established by opening a Membership Savings account, is required prior to opening any other type of account, and is subject to approval. Participant is defined as 18 years of age or older and the primary account owner and/or borrower on the eligible accounts. New share accounts must be personal accounts. Fiduciary, trust, business, organization, or Health Savings accounts are not eligible. Participant can be enrolled in the promotion by entering the promotion code New2022 on a new membership application, by speaking with a representative, or by submitting the enrollment form provided via email (“Enrollment”). Enrollment must occur within 30 calendar days of membership establishment. Account must be in good standing in order to receive bonus payout (not in default, closed, inactive, or otherwise not in good standing). Bonuses will be considered dividends and may be reported on IRS form 1099-INT. Any inquiries or disputes must be received by 07.31.2023.
  • New Direct Deposit Offer: New direct deposit must occur at least once a month from the Participant’s employer payroll into any account of which the Participant is the primary account owner. Direct deposits from a non-employer payroll source do not qualify. Monthly recurring direct deposit amount must total at least $1,000 for a $200 bonus. Initial direct deposit must take place within 60 calendar days of Enrollment. At least three recurring direct deposits must be completed within 120 calendar days of Enrollment and direct deposit must be maintained for 120 calendar days after Enrollment. Only the Participant will receive credit for the direct deposits. Any qualifying bonus will be deposited to the Participant’s Membership Savings account the first week following 120 calendar days of Enrollment.
  • New Member Spending Offer: Valid for new memberships with new checking accounts only. Spending must be completed on either a new debit card, new credit card account, or combination thereof. The spending bonus reward is 10% of qualified purchases up to a combined total of $150. Each category has a maximum reward of $50. The three categories of qualified purchases are groceries, online streaming subscriptions, and food delivery. The purchases must be made using a qualified First Tech debit or credit card linked to a new account. For purchases to qualify, transactions must post to the account(s) within 60 calendar days of Enrollment to receive a spending bonus. Any qualifying spending bonus earned will be deposited to the Participant’s Membership Savings account. If the maximum earned payout is reached during the first month, payout will be made the first week of the following calendar month; otherwise, any earned payout will be made at the end of the 60 day period. Spending bonus payouts for qualified purchases will be completed by 04.30.23. First Tech does not have the ability to control how a retailer chooses to classify their business and therefore reserves the right to determine which purchases qualify for promotional offer. Merchants who accept Mastercard® debit and credit cards are assigned a merchant code which is determined by the merchant or its processor in accordance with Mastercard® procedures based on the kinds of products and services they primarily sell. First Tech groups similar merchant codes into categories for purposes of making offers to you. Please note that First Tech makes every effort to include all relevant merchant codes in our categories. However, even though a merchant or some of the items that it sells may appear to fit within a category, the merchant may not have a merchant code in that category. Merchant category codes that qualify for this promotion include the following: Groceries: 5300 – Wholesale Clubs, 5411 – Grocery Stores, Supermarkets. Online Streaming Subscriptions: 4899 – Cable, Satellite, and Other Pay Television and Radio Services, 5735 – Record Shops, 5968 – Direct Marketing – Continuity/Subscription Merchants. Food Delivery: 5812 – Eating Places, Restaurants.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

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

Our Verdict

Previously First Tech offered a $300 bonus. This is an extra $50, but it does require $1,500 in spend across three categories. Still worth doing for a lot of people although online streaming and food delivery are hard to spend money on and we frequently see discounts on these purchases anyway. We will still add it to our best bank bonus page but the previous $300 deal is better.

Hat tip to reader Ice

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