New Member Offers

Offer Details/Disclosures

Direct Deposit & Debit Card Spend Offers: Earn up to $400 in cash bonuses. These combined offers are available to new members only. Non-member joint account holders are not eligible. 1) Direct Deposit Offer: The $300 cash bonus will be earned by opening a new Teachers checking account and receiving qualifying direct deposits totaling at least $2,500.00 within the first three monthly statement cycles after account opening. Qualifying direct deposits include payroll or government benefits. Transactions that will not count toward direct deposits include external transfers, point of sale credits and in-person check or cash deposits, wire transfers, ATM transfers, and Online and Mobile Banking transfers. 2) Debit Card Spend Offer: The $100 cash bonus will be earned by opening a new Teachers checking account and making $500 in eligible purchases using the Teachers debit card linked to that account.  The $500 must be spent within the first three monthly statement cycles in order to qualify.  Qualifying debit card purchases do not include: ATM transactions, cash-back, Peer-to-Peer (“P2P”) payments, loan payments, account funding and disputed or unauthorized transactions. Business accounts are not eligible. These offers may be combined with the Refer-a-Friend promotion.

Additional Program Guidelines/Restrictions: The promotional period is from 4/21/2022 through 7/31/2022. All account applications are subject to approval. Eligibility for these offers will also require enrollment in Online Banking and eStatements. All cash bonuses will be deposited to the primary member’s Regular Savings account within 30 days after all conditions are met but no sooner than the start of the third monthly statement cycle. Direct deposits and debit card transactions must post and clear in the new checking account during the monthly statement cycles defined in this promotion. The checking account must be open and in good standing with a balance greater than $0.00 in order to be eligible for the cash bonus. These offers are limited to one per primary member. For accounts opened online, you must use offer code OFFER400 to be eligible.  Teachers Federal Credit Union reserves the right to modify or discontinue this offer at any time. We also reserve the right to rescind any cash bonus paid if there is a violation of the terms, requirements and/or promotional guidelines of these offers. The cash bonus earned will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Membership at Teachers is required by opening a minimum $1.00 Regular Savings account.  

Smart Checking Disclosures: 
¹ Based on Comparison of Average Savings, Deposits and Loan Rates at Credit Unions and Banks, accurate as of March 25, 2022. Average rates may change quarterly.

*APY = Annual Percentage Yield. Qualified APY of 1.00% is for balances up to $15,000.00 only. Balances $15,000.01 or above will receive an APY of 0.10%. APY accurate as of 05/11/2022. We will use the daily balance method to calculate the interest on your account. We may change the interest rate paid for products and services used and the annual percentage yield at the Credit Union’s discretion at any time without notice. Fees may reduce earnings. You will earn the qualified APY and ATM rebate benefits when you do at least one of the following each monthly statement cycle: Option #1: Maintain an average monthly balance of at least $5,000.00 in the Smart Checking account OR Option #2: Have $20,000.00 in combined end of month deposit balances OR Option #3: Maintain direct deposits of at least $500.00 per month AND complete 10 debit card purchases. The average monthly balance is calculated by adding the closing balance at the end of each day and dividing it by the number of calendar days in a given statement cycle. Combined month-end deposit balances represent the total amount of balances in all applicable deposit accounts at the end of a statement cycle. Qualifying direct deposits include payroll or government benefits. Transactions that will not count towards direct deposits include external transfers, point of sale credits, and in-person check or cash deposits. Direct deposits and debit card purchases must post and clear the account during the statement cycle. Limited to one product per primary owner. Members must enroll in Online Banking and eStatements in order to remain eligible. If you do not meet the requirements for a qualification period, you will earn interest and receive the ATM fee rebates for the current statement cycle but you will not earn interest or receive ATM fee rebates for the next statement cycle. You must requalify to earn interest and receive benefits. You will begin earning interest and receiving ATM fee rebates the statement cycle after you requalify. Non-Teachers FCU and out-of-network fees charged at U.S. ATMs will be refunded up to $15 per month. Eligible ATM fees will be credited at the end of the statement cycle to the Smart Checking account that incurred the fee(s). Members cannot be enrolled in the Educated Choice program and have a Smart Checking account. We reserve the right to modify or change this agreement at any time. Dividends earned will be reported as interest on IRS Form 1099-INT (or Form 1042-S, if applicable). Federally insured by NCUA. For more information, please see a Teachers representative or call 1-800-341-4333.

Federally Insured by NCUA