[TX Only] Texas Trust Credit Union $100-$500 Checking Bonus

Update 9/7/24: Valid until 12/31/2024.

Offer at a glance

• Maximum bonus amount: $500
• Availability: TX only. You must (or be a family member of a person) live, work or worship in one of the following counties: Dallas, Tarrant, Henderson, Ellis (Midlothian), Johnson, Denton (Flower Mound), or Tom Green (San Angelo)
• Direct deposit required: Yes, $3,000-$10,000+
• Additional requirements: See below
• Hard/soft pull: Hard pull
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: $10, avoidable
• Early account termination fee: 180 days, bonus forfeit
• Household limit: None listed
• Expiration date: July 31, 2024

The Offer

Direct link to offer

• Texas Trust Credit Union is offering bonus of up to $500. Bonuses are as follows:
  • With qualifying direct deposits totaling $3,000 within the first 90 days of account opening get $100
  • With qualifying direct deposits totaling $5,000 within the first 90 days of account opening get $300
  • With qualifying direct deposits totaling $10,000 within the first 90 days of account opening get $500

The Fine Print

• Account holder must make 2 or more qualifying direct deposits totaling a minimum of $10,000 or more within 90 days of account opening to receive $500. Only new Bonus Checking account holders are eligible for this offer. Incentive Reward tiers are based on total qualified direct deposit amount. Account holder must deposit $3,000 to $4,999.99 to earn the $100 bonus, $5,000 to $9,999.99 to earn the $300 bonus or $10,000 or more to earn the $500 bonus.
• Incentive Reward tiers cannot be combined. Eligible members will receive their incentive deposited into their Bonus Checking account within 30 business days after the 90-day period has lapsed. A qualifying direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, from your employer, or the government. Other electronic deposits or person-to-person payments, including but not limited to: Zelle, PayPal, cash, check, and ATM deposits are not considered a qualifying direct deposit for this offer. Accounts must be open and in good standing to receive incentive reward. Account must remain open for 180 days from account opening. Closing the account before the 180-day period may result in incentive reward being withdrawn. Incentive reward may be reported as interest earned on IRS form 1099-INT, and recipient is responsible for any applicable taxes. Offer limited to one member per account and may not be used for multiple bonus checking accounts. Offer and terms subject to change without notice. Offer expires July 31, 2024
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $10 monthly fee, this is automatically waived for the first two months.

• Eigible fee discounts include:
• Active debit card Use: $2 (Active Debit Card is 10 non-ATM Point-of-Sale transactions per month totaling at least $100);
• Online Communication and Banking: $2 (must be actively enrolled);
• Senior age 55+: $2 (discount applied beginning on month of primary member’s 55th birthday);
• Public Servant: $2 (Public Servant is any full time employee of a local public or private school district, or municipality including city, county, state, or federal. Must present a recent check stub to qualify or a letter of intent for new employees. Must also fulfill other membership requirements);
• Active Bill Pay Use: $1 (Active Bill Pay Usage is paying three or more bills through Texas Trust’s Online Bill Pay in the previous month);
• Membership 5+ Years: $1 (The 5+ Year Membership discount is applicable if today’s date is greater than five years from the day the member initially opened their Texas Trust share account);
• Direct Deposit: $1 (A direct deposit or mobile deposit [or any combination of the two] totaling $500 or more per month is required to earn the Direct Deposit discount.

Early Account Termination Fee

Bonus is forfeit if the account is closed within 180 days of account opening

Our Verdict

Keep this account fee free is basically impossible, but you do get the first two months fee free. You need to keep account open for 180 days so expect to pay 4-5 months of fees ($40-$50 but can be reduced somewhat). Unfortunately it’s also a hard pull and we don’t have data points on what works as a direct deposit. Might be worth it for the $300 and $500 tiers but too much hassle for the $100 tier.

Hat tip to reader Avi

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