The Tech Credit Union $150 checking bonus has been one of the more popular bonuses we’ve had on this site due to it being available nationwide. Reader @mmencius let us know that unfortunately this is no longer the case and now the bonus is restricted to residents of California. Here is the new fine print (emphasis mine):
To qualify for offer, a new membership and Tech CU checking account must be opened by August 17, 2017. Tech CU reserves the right to change or cancel this promotion prior to August 17, 2017. Offer available only to California resident new-to-Tech CU members ages 18 and up who have had no account relationship with Tech CU during the previous 12 months and who have never caused Tech CU a loss. Offer not available on IRA, HSA, UTMA or business accounts. Maximum total credit $150. Credits will post to the membership savings account at the end of the month in which a requirement is met, but will not be available for withdrawal until nine months after account opening. Credits and any dividends accrued thereon will be forfeited if accounts are closed within nine months of opening. (a) $100 credit will post if, within 90 days after opening, the checking account begins receiving at least one recurring monthly $500 single-transaction direct deposit. The direct deposit must occur no less often than monthly. (b) $50 credit will be posted if, within 90 days after opening, at least three online bill payments have been made out of the checking account.
I’m not sure when this was added to the fine print, but we’ve updated our pages to reflect the new exclusion. You did have plenty of time to do this bonus, so hopefully those interested have already completed it.
Interesting data point:
I opened the account when I was interning in CA this summer, and moved back to the east coast within a few months. I just sent a message asking why the bonus hasn’t posted and was told…
“Since you work for [redacted] I updated the code to the member company code, which is [redacted], and is valid regardless of the state that you live in, so the bonus should post soon.”
There was no verification that I work for said company, anyone can claim they work for a CA company and apparently be valid for this.
I applied last week and it went pending. Then I got a call from a CSR for additional information. She asked me about all different bank accounts I had opened in the last 6 months or so (Santander, Capital One, M&T, Ally, Alliant, Northpointe, Citibank). I told her that I have always dealt with large banks in the past, and they don’t always have their customer’s best interest in mind. A friend advised me to work with credit unions. I first opened Alliant account, which I think that it is great, but it is not local, so I wanted to work with a local CU, if I needed to talk face-to-face or go to the branch.
She also asked me about my working status (I told her that I quit my job – as employee – in May, and now I am working on a project with my own company that I opened 10 years ago).
She asked me if I was able to meet the DD requirements for the bonus, and I told her that I thought so.
Then she said that she was going to call back with a decision about my application.
I eventually got a ‘Welcome to Tech CU’ email later in the day.
It wasn’t a warm and fuzzy phone call. But it wasn’t too difficult. I decided to be fairly honest with my answers and roll the dice.
Opening too many bank accounts in a short period of time may look suspicious, but it is also true that you don’t get to know banks unless you work with them, and i only had Bank of America and Wells Fargo for 20 years.
Anyway, so far so good. We’ll see how it goes moving forward.
I opened an acct with them a couple years ago and they sent me those stupid more information requested emails too after charging my cc the opening deposit. I ignored, then like 5 days in asked what they needed. Wait. Suddenly 2 weeks go by oops…guess account was open. I was out of state for them (they allowed at the time) and got the bonus then closed no issue. lol
I recently applied and was approved via email. I set up my login/password. I set up direct deposit & bill pay.
Next day, I received an email asking for me to call Tech CU and provide additional information. I called and was asked why there were so many inquiries on my Chex. I had set up 4 accounts in May. I said that I like to keep my money in separate accounts. They accepted it and I assume I am good to go. Direct deposit & bill pay haven’t been set up yet but the phone rep went over the requirements to get the bonus so I assume I’ll get it when I fulfill them.
I’m in NY, account opened on 7/25, ACH $500 transfer from Citi Bank, Deposit New Acct Bonus $100 and Deposit ACH Bonus $50 posted on 9/30 into saving account, not showing available yet.
I also referred my Dad to apply for the account after Tech CU updated the term to limit to CA, got two emails so far said they’d like to speak to my Dad in regard of his account application. Will call back on next Monday to see whether that will still be able to open up the account under the new terms.
added: ACH $500 transfer from Citi Bank on 9/14, so the total of $150 bonus posted in two weeks.
Thanks, added.
Received emails 5 times plus one call from Tech CU today for my Dad’s application, as expected he is not eligible for the bonus as it’s only limited to CA. However, he can still have his account open. The rep over the phone did ask the reason why seeing so many inquiries on Chex report, however that is not a denial. It looks to me that they still want more customers but just that giving away the bonus to too many new customers can hurt them and they really like those who will be long term customers, that’s why my bonus (before terms changed) is pending till January 2017, a total of 6 months from account opening.
I don’t think the bonus will become nationwide again but if they don’t care about too many inquires I think you can still apply for it, even not in CA. At least it can be tested for direct deposit for other banks/ credit union.
These guys are douchebags. I wouldn’t bank with them even if I lived in California.
California is after all the best state of America.
At least the bank is making their terms clear!
I opened up the account in late July, just helped my father applied one, not sure if they’ll let it through, will advise.
How sensitive is this bank to MO deposits.
If I’m not mistaken, they’ve also changed duration for bonus funds freeze from 6 months to 9 months.
Good catch!