Update 6/11/22: Deal is back with promo code July 25, 2022
Update 8/21/21: Deal is back. Hat tip to Hoops
Offer at a glance
- Maximum bonus amount: $200
- Availability: Must live or work in one of the following counties:
- Michigan: Berrien & Cass
- Indiana: Lots, view here.
- Direct deposit required: Yes, $500+
- Additional requirements: Use promo code 200
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: Can fund up to $2,500 with a Visa or Mastercard
- Monthly fees: None with eStatements
- Early account termination fee: None
- Household limit: None
- Expiration date: March 20th, 2020
The Offer
- Teachers Credit Union is offering a bonus of $200 when you open a new checking account and complete the following requirements:
- Use promo code Cool200
- Set up $500 or more in monthly direct deposits. First $500 in monthly direct deposits must post to account by September 5, 2022
The Fine Print
- To open a new checking account and take advantage of this offer, stop into a TCU Service Center and use promo code “200,” or visit tcunet.com/open and enter 200 in the promo code box when opening a new checking account.
- Checking account must be opened by March 20, 2020. Minimum direct deposit(s) totaling $500 or more per month required.
- First $500 in monthly direct deposit(s) must be posted by May 15, 2020.
- $200 bonus will be credited to the member’s checking account at the close of the first full statement cycle after meeting eligibility requirements.
- Account must remain open for at least 180 days.
- Limited to one promo ($200) per member.
- Member may receive an IRS tax form 1099-INT for the cash incentive. New members are subject to a $7 membership fee and $5 initial share deposit.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There is a $7 membership fee
Monthly Fees
Advantage checking has a $7 monthly fee, this is reduced to $5 with eStatements.
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee or not
Our Verdict
This account also earns a 0.5% rebate on any non-PIN purchase up to $500 per calendar year (minimum redemption is $30). Seems like a good deal if it’s a soft pull. If anybody signs up for the account then please share your experiences in the comments below.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
