Texas Citizens Bank -- Reward Plus Account Big Rate Drop -- Now 2.5% (From 5.01%)

Reward Checking interest rate is 2.05% on deposits up to $25K, Plus earns 2.5%. A direct deposit is the additional requirement for the Plus account. I opened my account less than 2 months ago, earned 5% only for the initial partial month and 1st full month. Just noticed dramatic drop in rate today.

Too bad they don't have the curtesy of notifyng costomers of the change BEFORE or even after they change thier rates. I have been with them for two years, until this. I STILL have not received a notice. I had to go to thier website to get a confirmation of the change.

I have moved my 50K (2 accounts) to Pelican State CU--- 5.01% with a 30K cap. 

 

How does one join the Pelican State CU? I live in Texas and would like to join this CU. Please advice.

Try joining Volunteers of America. If you live in Houston, I would like to share a ride to LA.

I am not kidding. I just called Pelican  CU and confirmed that VOA members in TX can join their CU.

The application can be handled by mail but it may speed up if you can visit their branch with all documents.

I have since been informed that VOA of TX does not qualify its membership. I will post details if and when my membership is finally approved. 

I am not kidding. I just called Pelican  CU and confirmed that VOA members in TX can join their CU.

What does it take to be a member of VOA?  Volunteer your time?  Donate money?  Or do you actually have to be employed there?

Pelican State CU will allow eligibility by if you live in a neighboring (adjacent) state *and* join a qualifying association.  If you don't live in LA or a neighboring state, then this eligibility method isn't available, even if you could join the association.

Rate now down to 2.05% ... not sure when this happened. Do not see Texas Citizens on the TX reward checking list?

Follow-up. I was wrong. see explanation in first post of this series. rate is still 2.5% for reward checking plus.