GTE Financial Credit Union is offering a $100 bonus for opening its free checking account with direct deposit. The offer is scheduled to last until January 31, 2013. Promotion details are listed in this GTE Financial page as of 12/3/2012.
If you can manage the direct deposit requirement, this appears to be an easy bonus. The instructions do specify payroll direct deposit. Below is a copy of the offer's small print:
New and existing members without a GTE Financial checking account are eligible to take advantage of the $100 promotional offer. The new Free Checking or U22 Checking Account, must be opened and funded, with at least $1, by 1/31/13. The member must also enroll in eStatements and have payroll direct deposit setup on the qualifying checking account by 02/28/13 to receive the $100 promotional offer. The $100 will be deposited in one sum by 3/31/13. For payroll direct deposit, setup means that the first direct deposit must be deposited into the qualifying GTE checking account by 2/28/13. The $100 new checking account promotion is only applicable on one account per member number; multiple opened checking accounts under one member number are not eligible.
GTE Financial's Free Checking qualifies for this offer. This has no minimum balance requirements and no monthly service fees. GTE Financial is a part of the ATM CO-OP network which give members free access to ATMs across US and Canada.
Shared Branch Network with a Catch
GTE Financial is also part of a shared branch network of other credit unions across the country. This means members can use a credit union in this network just like a GTE location. However, the credit union charges for transactions at shared branches unless the member qualifies for the Member Advantage program. It's uncommon for credit unions to charge members for using shared branches. However, the credit union does incur costs for being part of the network so this is a way to pay for those expenses.
In addition to qualifying for free shared branch transactions, Member Advantage program also offers other benefits. One that may interest savers is an 0.25% bonus on certificate rates. With this bonus, several of the credit union's CD rates become competitive. Refer to the GTE Financial Member Advantage page for the full details.
This is another all-access credit union that provides "easy membership." GTE Financial lists ways people can qualify for membership in its Anyone Can Join page. At the bottom of this page it states:
You can join GTE Financial through our non-profit educational financial club, CUSavers. If you share in the desire to reach common financial goals, joining CUSavers for a one-time $10 membership fee qualifies you for credit union membership. To make joining even easier, we’ll pay your $10 membership fee!
The credit union has an online application in which you can choose the CUSavers as one of the eligibility options.
GTE Financial branches are primarily located in the Tampa Florida metro area.
Credit Union Overview
GTE Financial is a sizable credit union with $1.53 billion in assets. It has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 31.47% (below average) based on September 2012. Please refer to our financial overview of GTE Financial Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 196).
Other Credit Union and Bank Bonuses
We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.