Posted by William Charles on February 2, 2020
Bank Account Bonuses

Published on February 2nd, 2020 | by William Charles

27

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

Deal has expired, view more checking bonuses by clicking here

Reposting as confirmed soft pull

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: Unknown
  • 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 May 15th, 2020

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:



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Josho
Josho

I applied for an account. Was able to fund $2,500 via Citi DC. Visa and Mastercard are accepted. $2,500 is the max. $7 required for membership and $5 for savings so you have to do $2,488 in checking to hit it. Application pending review.

Tyler
Tyler

Hard pull?

Josho
Josho

Nothing showing up on TU or EF so far. Didn’t see any language during the application that would indicate a hard pull. Did opt out of overdraft protection.

Joe
Joe

Hey Josho, Did the credit card charge post as cash advance or purchase? Thanks!

Joe
Joe

Follow-up DP: Fidelity rewards credit card was charged as cash advance.

Nic
Nic

Is there any way to get this without living or working in one of those counties? If you live in MI or IN? I don’t see anything about county specific on the TCU Page

Josho
Josho

When you go through the application, they ask you what county you work or live in and give you a drop down list. Unless you select one of the counties on the list you cannot proceed. There is a third option though to be referred by an existing member. My wife’s office happens to be in Berrien county (although she works from home and goes to the office like twice a year), so that was our in. They did message me asking to go to a branch or give them a call because “some of your information could not be verified” so I’ll try to have my wife give them a call this week.

nnonno
nnonno

rejected due to the information provided by ChexSystems

FatsP
FatsP

Auto approved from Indiana. Ink Preferred funding was declined – I’m sure it would have posted as a cash advance (set set advance limit to $100).

I’ll use Connexus debit card to fund and kill 2 birds with one stone.

No hard pull and they can’t be overly Chex sensitive.

J
J

The monthly fee of performance checking ($2 per month) can be waived but the advantage one ($7 per month) still has $5 monthly fee even we opt in paperless.

E
E

right. Fortunately, I called to change my account type. And the language is
Performance Checking: The $2 monthly account fee is waived if: a) your monthly statement is delivered as an eStatement; b) you enroll in direct deposit; OR c) you have combined balances of $2,500 in deposits, loans and/or TCU Investment Services balances; OR c) you have at least 10 debit transactions per month.
I think both a) and b) are necessary. I can take 2 dollars to have a try.

AllenW
AllenW

With that Or statement, it sounds like either A,B or C. Will do it… Interesting what you find out and thank you for sharing.

I may do a product change to that once the bonus posts.

AllenW
AllenW

I can also confirm the “Advantage Checking” is $7 or $5 fee per month if you do estatements William Charles can you update?

Also with the Advantage Checking it states:

Earn 0.50% rebate on any non-PIN purchase with your TCU Debit Mastercard. Rebate is redeemable once the rebate balance reaches $30 within the calendar year. Maximum rebate per calendar year is $5,000. Eligible purchases do not include ATM transactions or those made using a personal identification number (PIN).

No restrictions that I can see for using P2P Apps…. I will probably stay in the Advantage Checking and see if I can trigger the $30 min (6K Spend) to offset the $5 fee for 6 months.

AllenW
AllenW

So far 1 statement posted and one fee was assessed when opening the account of the $5. I have a feeling at the end of this statement there could be a fee. The fee is mitigated by doing the 0.5% rewards from their debit card. Not going to over do it considering there is a max of $5,000. I don’t want a shut down so I keep it at Under 10K per cycle spend.

AllenW
AllenW

DP

Approved with proof of working within the territory. Had to upload proof after a day or so and the following business day I was approved. Probably over 15 Chex inquires within 12M and this is my second account opened within 30 days. No signs of Hard Pull.

$2488 – to the Advantage Checking
$5 + $7 – Shared charge and Fee to Join

Both show as Purchase so far thru Alliant. CA availability didn’t drop however it went pending today. Will follow-up here if it does post as CA.

In the confirmation packet that is uploaded to you, No where does it show the bonus is attached. I had not asked but was wanting feedback for anyone else if they can confirm it was. I had not contacted the bank and dont plan on doing any changes to the account to jeopardize the bonus.

AllenW
AllenW

Also, I plan on doing a $500 deposit each month until I get the bonus, its kinda unclear in the terms, it states Monthly Deposits. I also assume if the DP of alliant holds, then the bonus will be paid out in April.

AllenW
AllenW

Well that was fast
DP

10th opened
13th Deposit alliant
14th $200 Bonus

AllenW
AllenW

Has anyone done the 0.5% DC rewards? I recently tried Venmo and CashApp,so far Venmo has posted on the DC. No rewards shown but its only been like a day of it being posted. I’m not holding my breath but could be some easy money if 1 of the 2 works, while i keep the account open. I’ll report back later but I figured maybe someone here has tried them and knows for sure.

Hoops
Hoops

Bonus posts day after first 500 DD. Too easy.

ThatOneGuy11
ThatOneGuy11

use a legit DD or something else?

Hoops
Hoops

Legit

ThatOneGuy11
ThatOneGuy11

Couple things:
-Applied and approved same day, I live in Indiana.
-No HP that I can see.
-Citi DC and CIP both wouldn’t process during the initial funding, ended up having to using a debit card for the $2,488.00 amount I committed to (tried to go back and lower the amount but it wouldn’t let me).
-Had to call to get my member number so I could set up my online banking. This was probably my fault as the number had to have been shown during my application and I must have missed it.
-Since I have till 5/15 for the first DD, I’m gonna try a couple bank account pushes before I resort to setting up a legit DD at work.

ThatOneGuy11
ThatOneGuy11

2/28: Opened
3/13: $550 Fake DD from Simple
3/14: $200 Bonus posted

AllenW
AllenW

Alliant 2.5% card didnt post rewards, i was exactly short 2.5% of the 2500 purchase charge 🙁

Has anyone tried Capital One Cards?

AllenW
AllenW

On a Quick Silver it charged a Cash Advance fee.

eksabajt
eksabajt

I missed Joe’s comment, so another DP that Fidelity Rewards Visa charged as a cash advance

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