First Community Credit Union is advertising a $100 bonus for opening its Texans Checking Account. Unlike the typical checking account bonus, this doesn't have requirements after opening the account except for keeping the account opened for 12 months. However, the checking account does require direct deposit to avoid a monthly fee. The bonus doesn't appear to be listed at the credit union's website. I found it advertised in the 11/11/12 edition of the Houston Chronicle. The ad is available online here.
The bonus is valid through 12/31/2012. Here's a copy of the small print in the ad:
Coupons valid for personal checking accounts only. Not valid on subsequent checking accounts. Coupon or promo code must be presented at time of account opening. Certain credit criteria apply. Copies of coupons not accepted. $100 will be given when new Texans Checking is opened. Funds will be deposited into savings account within 10 business days. Bonus is subject to tax form 1099-INT. Accounts closed during initial 12 months from opening date will forfeit the $100 bonus. One coupon redeemed per product. When applying use promo code TXCP0912. Valid thru 12/31/12.
I called the credit union yesterday at 281.856.5300 for more details. According to the CSR, you can qualify for this bonus by applying online or at a branch. If you apply using the online application, there should be a field where you enter the promo code (TXCP0912). If you apply at a branch, I was told you don't have to bring in an original copy of the ad. A printout of the online ad should be adequate. In fact, you probably can just mention the promo. One downside is that the checking account application does include a hard credit pull (according to the CSR).
This bonus requires opening the Texans Checking Account. If you're a fan of the Houston Texans NFL team, this bonus may just be icing on the cake. But you shouldn't let your enthusiasm for the bonus or the team blind you to the potential for monthly fees. Here's an excerpt of the small print at the credit union's Texans Checking page:
Minimum deposit to open checking account is $25. Account is free for first 90 days. Direct Deposit must begin within 90 days. As long as a total of at least $500 is received each month through one or more Direct Deposit(s), fee will be waived. Without Direct Deposit, monthly fee of $4.95 will be assessed.
The credit union still offers a reward checking account. I first reported on this in Houston reward checking account in March 2009. The top rate has remained fairly high. It's currently 2.75% APY, but the balance cap has fallen from $20K to $10K.
Credit union membership is open to those who live or work in Harris or Fort Bend County, Texas. This is stated on the first page of the online application.
Credit Union Overview
Most of the First Community Credit Union branches are located on the west side of Houston.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) a Texas Ratio of 1.58% (excellent) based on June 2012 data. Please refer to our financial overview of First Community Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 66818).
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.