Update 7/7/22: There is a $200 bonus to celebrate the New Branch in Waxahachie, TX. Looks like it might be possible to open online and get the bonus that way.
Offer at a glance
- Interest Rate: 1.5% APY when requirements are met
- Minimum Balance: None
- Maximum Balance: $50,000 for 2.5% APY rate
- Availability: Must live, work or worship in one of the following counties: Collin, Delta, Denton, Hunt, Johnson, Kaufman, Parker Rockwall, Tarrant or Wise. All are in Texas.
- Direct deposit required: Yes
- Additional requirements: 15 debit transactions of $5+
- Hard/soft pull: Hard
- ChexSystems: Unknown
- Credit card funding: UnknownÂ
- Monthly fees:Â None
- Insured: NCUA
The Offer
- Neighborhood Credit Union is offering a 1.50% APY rate on balances up to $50,000 when you meet the following requirements each qualification cycle:
- Complete 15Â debit or credit card transactions of $5 or more
- Receive one automatic payment or direct deposit (must post & settle)
- Receive eStatements
Avoiding Fees
This account has no monthly fees to worry about
Our Verdict
The high maximum balance is nice, but the fact you need 15 debit transactions per month and they need to be over $5 each makes this account much less appealing. I think most people will probably find better options for high interest accounts here, but if somebody does decide to sign up please let us know if it’s a hard/soft pull and if you can fund with a credit card.
Neighborhood CU has 4.25% APY on their free checking accounts (up to $50K), not 1.5%, when you meet all three of their requirements: 15 debit (or credit) card transactions over $5 each month (not ATM), at least one automatic ACH or DD, and eStatements). If the requirements aren’t met, it’s 0.01% APY.
The Waxahachie branch opening $200 bonus expires on 12/31/23. The requirements say at least $500 DD within 60 days of opening the account AND you have to have the account open for one year before closing it (or they take it back).
The minimum initial deposit to open the account is $125 ($100 for checking and $25 for savings), and I used my CC to fund it.
Just a bit of bitching…. But for us TX folks, most of the time a bank bonus is posted for Texas (which is not often) it’s usually some highly region-specific bonus. Damn. So stingy. Don’t you want me daddy banks?
They especially don’t want us.
Thanks for posting, as always. Please add it to the Bank Accounts Category. Some people subscribe to the RSS Feed in order to see posts like this
William Charles
Thanks, some of the posts are in the wrong category as they are older.
TU isn’t so bad since only Barclays seems to ever pull them. We’re moving to Ft Worth in a few months so we’d be able to do this. Would just have to figure out what to do the $5 debits on.
Use it as debit card transaction at walmart/kroger and return the items. They’ll give you cash back. That is what I do every month.
Yes its 15 debit/credit transactions. And It is not available for everybody in Tx. The requirements are such that either you need to live in the city or 15 mile radius of any of the branches.
Please update. I know this CU as have an account with them. It’s an Hard pull as well.
Post says five debits are required. Bank says it’s fifteen. Please update.
Done
I opened the account about a year ago.
They do hardpull and it was TU
Have an account and they do hard pull. EQ I believe