Posted by William Charles on February 23, 2019
Bank Account Bonuses

Published on February 23rd, 2019 | by William Charles

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[Expired] [Cedar Hills, OR Branch Only] First Tech Federal Credit Union $700 Checking Bonus

Deal has expired, view the best current checking bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $700 (extra $300 with credit card)
  • Availability: Cedar Hills Branch Only [2929 SW Cedar Hills Blvd, Building 19 Beaverton, Oregon 97005]
  • Direct deposit required: Yes, $250-$2,000+
  • Additional requirements: See below
  • Hard/soft pull: Hard (recent reports say soft pull)
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: February 28th, 2019

The Offer

Direct link to offer

  • First Tech Federal Credit Union is offering bonuses of up to $1,000 at the Cedar Hills branch:
    • New checking bonus:
      • $500 if you deposit $15,000
      • $250 if you deposit $5,000
      • $100 if you deposit $1,500
    • Direct deposit (must be started within 60 days of account opening and two direct deposits received within 90 days):
      • $200 when you direct deposit $2,000 or more
      • $150 when you direct deposit $1,000 or more
      • $100 when you direct deposit $250 or more
    • Credit card:
      • $300 when you open a First Tech Odyssey Rewards card and meet minimum spend requirements
      • $150 bonus when you open a First Tech Choice Rewards card and meet minimum spend requirements

The Fine Print

  • Offer expires 02.28.19.
  • Offer may only be redeemed at the Cedar Hills Crossing Experience Center.
  • New accounts must be opened in-branch.
  • Individuals may participate in any of the bonus offers.
  • Bonus offers are not valid for multiple accounts.
  • This offer may be combined with any other offer at First Technology Federal Credit Union (“First Tech”).
  • New accounts must be personal accounts only. Fiduciary, Trusts, Business, or Organizations are not eligible. Must not have had a checking account within the last six months to qualify.
  • For new members, opening a Membership Savings Account and an initial deposit of $5.00 is required prior to opening any other type of account.
  • Any qualifying bonus awarded will be deposited to your Membership Savings account at month-end after all criteria are met.
  • Account must be in good standing (not in default, closed, or otherwise not in good standing). Dividends are considered interest and may be reported on IRS form 1099 INT.
  • Opening bonus:
    • To qualify, at least $1,500 must be deposited within 30 days of account opening to qualify for $100 bonus, at least $5,000 must be deposited within 30 days of account opening to qualify for $250 bonus, and at least $15,000 must be deposited within 30 days of account opening to receive $500 bonus. 2.00% APY on $15,000 is $300. New money must be deposited from a source outside First Tech. Transfers between First Tech accounts or its affiliates will not qualify. All funds must remain in the qualifying checking account for 90 consecutive days after the 30 day funding period.
  • Direct deposit bonus:
    • New direct deposit must occur at least once a month from an employer payroll, retirement/pension distribution, or Social Security Administration. Any ACH which is not a direct deposit does not qualify. Initial, new direct deposit must take place within 60 days of enrollment. New or existing recurring monthly minimum direct deposit amount must increase by a total of $250 for a $100 bonus, $1,000 for a $150 bonus, and $2,000 for a $200 bonus. At least two recurring direct deposits must be completed within 90 days of enrollment.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

None of the checking accounts come with any monthly fee

Early Account Termination Fee

I wasn’t able to find a fee schedule so I’m unsure if there is any EATF.

Our Verdict

Update: Looks like it’s actually a soft pull, because of this it’s definitely worth doing if you live anywhere near the branch.

Despite it being a hard pull, I do think this is worth doing due to the fact it’s a huge $700 bonus being offered and the bonus requirements are quite easy to meet. I’ll be adding this to our list of the best checking account bonuses. As always share your experiences with this bonus/account in the comments below.

Big thanks to an anonymous reader who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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Dan - Legal Bank Robber
Dan - Legal Bank Robber

Always wanted to visit Oregon, this could pay for it lol.

Scott
Scott

Wonder if you could expense the travel costs to OR to offset the bonus on your taxes.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

You can expense anything, till you get audited.

Scott
Scott

I know you can expense anything. I wonder if it’s an acceptable deduction if you incur cost specifically to get a bank promotion…ie the miles to drive to a bank.

Cn
Cn

Yes, if you have a sch c for your investing activities, this also can go on sch a but but yields little benefit. Ira can make you classify your business as hobbies which will make expense go on sch a.

RipCity
RipCity

Wow!!! Thanks, Doc!!!

Sapien
Sapien

RipCity Did you open the checking/savings account? Any update on the status of your bonuses?

Go Blazers!

yeet_69
AP
AP

Perhaps the reviews are honest and warranted, but the bonus is not because of the reviews. They just probably want people to come in a visit their new location and try out their new concept.

Elijah
Elijah

Right up the street. Will have to visit this

AnameOfaguy
AnameOfaguy

Also good at any First Tech branch if an Intel employee or immediate family member.

AJ
AJ

Do you know where the offer details for Intel employee/family member are posted

AnameOfaguy
AnameOfaguy

They’re on First Tech’s page on Inside Blue. Very sparse details, just a screenshot identical to the above with no fine print. I e-mailed asking for the fine print and they never responded.

AJ
AJ

Thanks! Let me call my local branch and see if they are aware of this.

anonymous
anonymous
Frank
Frank

I just opened my checking account. I was told the hard pull is only for credit card and not the checking account. Also, I can open credit card with $300 promo within 30 days since now I’m a member.

Todd
Todd

How many bank accounts have you opened in the last 12 months? 24 months? There are data points of them being Chex sensitive.

AnameOfaguy
AnameOfaguy

First Tech has always been a hard pull in the past.

MC
MC

Opened FirstTech account Jan 2019. No hard pull in Washington state.

Sean
Sean

I opened this account yesterday in the Cedar Hills branch (new first tech member) – no hard pull for the checking/savings. The credit card would have been a hard pull.

Sapien
Sapien

Sean Any update on the progress of your bonuses?

Sean
Sean

DOC – this is not a hard pull for the checking and savings. I opened this account yesterday in the Cedar Hills branch. I did not do the credit card as that would have been a hard pull.

Todd
Todd

I’m still curious to know if they’re Chex sensitive, but I may try it anyway if it’s only a soft pull. How many accounts have you opened in the last 12/24 months?

Yoni
Yoni

Worth the effort if just a SP $775-$800 is good ROI on $15k parked for 90-120 days William Charles%

Opting out of OD protection should help keep it a SP.

Buddy
Buddy

They are definitely chex systems sensitive. Turned down for membership due to chex systems score. Was told that high credit score was of no relevance.

Josh R
Josh R

Opened up the accounts today. I also opened up the Credit card for the $300 bonus. The credit card offers 3% CB on Travel, is a Mastercard, so I hope it works as Travel on Plastiq for 3% CB on certain transactions.

Also, the 15,000 can be parked in the dividend checking account which offers 2% Rewards checking rate if you meet the monthly criteria.

Yoni
Yoni

Yes the only real pain is the 12X debit transactions – Also FWIW the 2% is only up to $15K and make sure its a Dividend Rewards Checking account./

Todd
Todd

DP:
I was able to open a checking/savings account and was told no hard pull required.
My recent Chex report shows 8/24 and 6/12, though I’ve opened about 6 other accounts that aren’t showing on my report. So fortunately it seems like they aren’t Chex sensitive.

Sapien
Sapien

Todd Any update on your bonus progress? Thanks

Rowan
Rowan

Heads up if anyone was planning to drop by the branch today to get this done – I was there 30 min before they closed yesterday but they said it was too late in the day to open a new account. And when I called for a late afternoon appointment today they were booked up before 3 pm despite being open until 5:30.

YoniPDX
YoniPDX

DP ACH Daily limit Push/Pull $25K no listed monthly cap – when CSR checked.

Super easy bonus- No HP have been reported by normal channels of fairly instant notifications.

If you live outside of Lane county or dont meet normal joining criteria -$15 Computer history museum membership. (Microsoft Alumni was how I joined).

Denise
Denise

Yoni
YoniPDX

Do you live in OR and did you open in branch?

Yoni
Yoni

Denise
I live in OR and I did go to the new Cedar Hills branch in person earlier today – was a little busy but only about 10-15 minute to meet with a Rep. Did’nt take long ( longer because I asked more bank related questions. I Imagine that if you show up and are seated before 5:30 that a manager would have a hard time telling you to come back tommrow (considering the promo ends today). I would give it a shot esp if its not too far away.

Sapien
Sapien

Yoni Any update on the status of your progress toward bonuses? Thanks

YoniPDX
YoniPDX

Sapien

Haven’t hit the 90 days since we full funding yet. Didn’t do it till mid-month if I recall.

Sapien
Sapien

Yoni

Thanks. I am in the same boat regarding the $250 bonus (5k for 90 days).

Did you also complete the requirements for the the DD bonus?

YoniPDX
YoniPDX

Not yet but still think I have time – don’t think the clock starts till start. Need to re-read fine print Sapien

Did need to do it though missed out on higher app because on no DD or bill-pay last cycle got the debit card transactions but not the other

Rowan
Rowan

The bonus has now ended but in case there’s a new one at some point and someone comes across this comment, their page about becoming a member showed that you can join the “Financial Fitness Association” for $8, which I did but then during the account opening process the banker just asked if I knew someone who worked for one of their affiliated companies or organizations and didn’t actually do anything to verify my membership with the above group. YMMV!

YoniPDX
YoniPDX

Rowan Yeah Reo asked if I worked for any if the big Washington Cty corps or Gov’t i.e. Nike, Intel, etc or had family -then choose the $15 museum from drop down menu – I asked what other options and saw the MS Alumni Option. But also didn’t ask for proof either. But don’t ever remember a CU asking for proof of any criteria other than Precision Cast parts – and cutting edge were the only ones I couldn’t join unless employment related – I imagine I would need proof.

But most charters are pretty lack about membership and its rarely enforced as normally members are desired.

SWC
SWC

Has anyone received their bonuses yet? I haven’t seen anything on my acct so far

Sapien
Sapien

SWC

Did you complete the Direct Deposit bonus?

Swc
Swc

I’ve pushed $ twice from Serve hoping that would trigger it. Nothing yet.

AP
AP

How did First Tech code the Serve transactions?

Swc
Swc

ACH Deposit SERVE ENTERPRISE – EXCHANGE
And my Schwab deposits posted as – P2P

AP
AP

I’m assuming Schwab and Serve didn’t trigger the DD requirement for you? Did you find anything else that worked? Did you get the bonus you wanted?

Marshall
Marshall

[deleted comment as it was an employer-based targeted offer]

Sapien
Sapien

Can anyone please report what Employer-based real Direct Deposit transactions are coded as?

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