Teachers Federal Credit Union $1,000 Bonus

Offer at a glance

• Maximum bonus amount: $1,000
• Availability: Nationwide (Must enroll at a branch, call center, or through phone/video appointment)
• Deposit required: $25,000 – $500,000+
• 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 bonus of up to $1,000. The bonus you receive depends on the amount of money you deposit and maintain for 90 days.
  • Deposit $25,000 – $49,999 and earn a $100 bonus
  • Deposit $50,000 – $99,999 and earn a $200 bonus
  • Deposit $100,000 – $229,999 and earn a $400 bonus
  • Deposit $225,000 – $349,999 and earn a $600 bonus
  • Deposit $350,000 – $499,999 and earn a $800 bonus
  • Deposit $500,000+ and earn a $1,000 bonus

The Fine Print

• Must enroll at a branch, call center, or through phone/video appointment. Website enrollment is not available or permitted for this offer.

   

• Your total combined deposit balances as of the end of the calendar day prior to your enrollment date will serve as the Starting Balance.1

   

• You will have 14 calendar days post enrollment to deposit new money and increase your deposit balances.

   

• After the 14-calendar-day period, the Tracking Period begins where combined balances across all deposit products will be tracked for the offer.

   

• After the Tracking Period ends, the cash bonus will be determined by calculating the difference between the Starting Balance and the Average Daily Balance2 of your combined end-of-day deposit balances throughout the Tracking Period.

   

• If the difference between the balances results in positive growth of at least $25,000, you will earn a cash bonus as outlined in the payout tiers below
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

They offer checking & savings accounts with no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find any fee schedule so unsure if there is any early account termination fee.

Our Verdict

People had a lot of issues with the $400 checking bonus. This bonus isn’t worth doing due to the low rate of return and those issues, because of that we won’t add it to our best bank account bonuses.

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• PSA: Don’t Call The Bank
• Introduction To ChexSystems
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• 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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