[IN & MI] Everwise Credit Union $400 Checking Bonus [Formerly Teachers Credit Union]

Update 7/30/24: offer is significantly better as you can get another $200 just for depositing $5,000, doesn’t seem to be any holding requirement.

Update 7/8/23: Deal is back.

Offer at a glance

• Maximum bonus amount: $200
• Availability: Must live or work in one of the following counties:
  • Michigan: Berrien & Cass
  • Indiana: Lots, view here.
• 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 JOIN200
  • Set up $500 or more in monthly direct deposits for the first three months
• You can get another $200 when you deposit $5,000+

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:

• 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
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

Post history:

• Update 10/16/22: Deal is back, no end date listed. Hat tip to reader Matt
• Update 6/11/22: Deal is back with promo code July 25, 2022
• Update 8/21/21: Deal is back. Hat tip to Hoops