[NY, FL] Teachers Federal Credit Union $300 Checking Bonus

Update 8/30/25: Deal is back with no end date listed.  Some speculation that they auto deny anybody not in a state with branches (NY, FL?). Hat tip to BankBonusIsMyReligion

There’s a $600 checking bonus using code TAMPA600 in-branch at the Tampa Westshore Branch

Update 3/18/25: Deal is back until JOIN25. Hat tip to knuds1b

Update 12/10/24: Deal is back and valid until 12/31/2024.  Some speculation that they auto deny anybody not in a state with branches (NY, FL?). Hat tip to Jenya

Offer at a glance

• Maximum bonus amount: $300
• Availability: Nationwide
• Direct deposit required: Yes, $1,000+ for four months
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: None mentioned
• Household limit: None mentioned
• Expiration date:

The Offer

Direct link to offer

• Teachers Federal Credit Union is offering a $300 bonus when you open a new checking account. Bonus is broken down as follows use promo code SMART60 and enroll in eStatements and online banking:
  • Earn $100 per month for up to 6 months by completing the following requirements
    • Open a new Teachers checking account
    • Receive at least $1,000 in monthly direct deposits

 

The Fine Print

• Direct Deposit & Debit Card Cash Back Offers: Earn up to $300 in cash bonuses. 1) Direct Deposit Offer: The up to $200 cash bonus will be earned by opening a new Teachers checking account and receiving qualifying direct deposits totaling at least $1,000 each monthly statement cycle (“Evaluation Period”) for four consecutive Evaluation Periods. Qualifying direct deposits are defined as an ACH/electronic deposit(s) of payroll from your employer, pension or government benefits such as Social Security.
• Deposit(s) that do not qualify for this promotion include but are not limited to: ACH external transfers, any Peer-to-Peer (“P2P”) transfers such as from Venmo, PayPal, Cash App, Zelle®, merchant transactions or point-of-sale credits such as, but not limited to: transactions from PayPal, Stripe, Square, etc, in-person check or cash deposits, wire transfers, ATM transfers, and Online and Mobile Banking transfers.
• Micro-deposits and/or deposits used to verify accounts do not qualify.
• A maximum cash bonus of $200 will be earned and deposited in $50 increments after each Evaluation Period in which $1,000 in qualifying direct deposits are posted to the new Teachers checking account.
• No bonuses shall be paid for qualifying direct deposit(s) totaling less than $1,000 during any Evaluation Period.
• Direct deposit(s) must begin before the start of the second Evaluation Period.
• Any member that fails to meet the minimum requirements and/or discontinues their direct deposit(s) during or before the four consecutive Evaluation Periods will no longer be eligible to receive any additional bonuses during the promotion. 2)
• Debit Card Cash Back Offer: The up to $100 cash bonus will be earned by opening a new Teachers checking account with a Teachers debit card linked to that account. Members will earn 2.00% cash back on the first $500 of qualifying debit card purchases and 3.00% cash back on the next $500 of qualifying purchases. A maximum bonus of up to $25 in cash back can be earned each Evaluation Period. Qualifying debit card purchases do not include and may not be limited to: ATM/point-of-sale cash back transactions, P2P payments, loan payments, account funding, refunds and disputed or unauthorized transactions.
• For accounts opened online, you must use offer code JOIN2023 to be eligible.
• Additional Program Guidelines/Restrictions: Offers as of 07/12/2023.
• These offers are available to new members only.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Both the Smart Checking and Share Draft Checking accounts are eligible for this offer. Neither account has any monthly fees to worry about.

Early Account Termination Fee

None

Our Verdict

People had a lot of issues with the $400 checking bonus. That bonus was better but I doubt we will see something that good again. I’d recommend reading the comments to see if you want to deal with this bank before signing up.

Hat tip to Bockrr

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• 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
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