[IN & MI] Teachers Credit Union $200 Checking Bonus

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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:
  • 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

Direct link to 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 200
    • Set up $500 or more in monthly direct deposits. First $500 in monthly direct deposits must post to account by January 1, 2022
    • A minimum of five (5) TCU Debit Mastercard purchase(s) (non-pin) by January 1, 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.

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