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

Tuesday, December 21, 2010 - 6:41 AMTexas Citizens Bank - Details
Reward Plus:

From (5.01%, $25K) to (2.50%, $25K). 

5% (at least $25K) club members: from 6 to 5; trending down by the day, 4, 3, ...
8
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,425
1. Tuesday, December 21, 2010 - 12:13 PM
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.
3
OnTheElkOnTheElk1 posts since
Aug 3, 2010
Rep Points: 3
2. Tuesday, December 21, 2010 - 5:32 PM
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. 

 
3
pdxmalepdxmale91 posts since
Jul 11, 2010
Rep Points: 270
3. Saturday, December 25, 2010 - 11:18 PM
How does one join the Pelican State CU? I live in Texas and would like to join this CU. Please advice.
1
dealhunter01dealhunter011 posts since
Dec 25, 2010
Rep Points: 1
4. Sunday, December 26, 2010 - 10:15 PM
Try joining Volunteers of America. If you live in Houston, I would like to share a ride to LA.
1
adityanmadityanm25 posts since
Jun 5, 2010
Rep Points: 157
5. Monday, December 27, 2010 - 7:20 AM
Not sure you are kidding, but Pelican is now limited to in-state (LA) residents within thier market areas only.
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,425
6. Monday, December 27, 2010 - 11:10 AM
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.
1
adityanmadityanm25 posts since
Jun 5, 2010
Rep Points: 157
7. Monday, December 27, 2010 - 7:43 PM
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. 
1
adityanmadityanm25 posts since
Jun 5, 2010
Rep Points: 157
8. Monday, December 27, 2010 - 8:10 PM
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?
1
dunkerdunker136 posts since
Jun 11, 2010
Rep Points: 409
9. Tuesday, December 28, 2010 - 2:11 AM
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.
3
glxpassglxpass38 posts since
May 2, 2010
Rep Points: 240
10. Monday, August 22, 2011 - 2:00 PM
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.
1
elarhelarh36 posts since
Jun 9, 2011
Rep Points: 102
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