[CA only] $1,000 Tech CU Savings Bonus

Offer at a glance

  • Maximum bonus amount: $1,000
  • Availability: Must reside in  Santa Clara, Alameda, San Mateo, Santa Cruz, San Francisco, or Contra Costa counties
  • Deposit required: $20,000+
  • Additional requirements: Keep deposit until 12/31/19
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Up to $125, Visa/MC/Discover
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: September 30th, 2019

The Offer

Direct link to offer

  • Tech CU is offering a bonus of up to $1,000. Deal is available to new and existing account holders. The bonus you receive varies based on how much you grow your deposit balance:
    • $20,000 to $49,999 and get a $200 bonus
    • $50,000 to $99,999 and get a $400 bonus
    • $100,000 to $249,999 and get a $600 bonus
    • $250,00+ and get a $1,000 bonus

The Fine Print

  • Promotional Period is 07/01/19 to 09/30/19. Campaign End Date is 09/30/19.
  • You must enroll during the Promotional Period.
  • Must be 18 years or older.
  • Offer excludes balances held in business accounts.
  • During the Promotional Period, grow your total deposit relationship with Tech CU by moving New-to-Tech CU funds from any outside institution to any Tech CU share deposit account where you play a primary owner role. On 10/01/19, Tech CU will determine how much your total deposit relationship grew during the Promotional Period by taking your total deposit balance on 09/30/19 and comparing them to your total deposit balance on 06/30/19.
  • The increase in your total deposit balances during the Promotional Period will determine which Promotional Tier you are eligible to participate in.\ Your total deposit balance must increase by $20,000 or more during the Promotional Period to be eligible for any Promotional Tier.
  • To receive a Promotional Tier payout, you must maintain the minimum required total deposit growth for the Promotional Tier you were eligible to participate in through 12/31/19.
  • If your total deposit growth drops below the Promotional Tier you were eligible to participate in, but still falls within one of the lower Promotional Tiers, you’ll be paid the amount for the corresponding lower tier. Tech CU reserves the right to change or cancel this Promotion at any time.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Their basic checking account doesn’t come with any monthly fees.

Early Account Termination Fee

Not sure if there is any early account termination fee

Our Verdict

Best way to maximize this promotion would be to deposit funds on 9/31/19 and then withdraw on 12/31/19. Basically need the funds in there for 3 months at absolute minimum. The best tier is tier 1 in terms of a return (works out to be 4% APY), as the tiers increase the rate gets worse. For most people this won’t be worth it, but if you already have an existing account or are looking to park some funds it might be worth considering. I’ll be adding this to our list of the best savings bonuses.

Hat tip to reader EW

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