About two years ago, I wrote about First Technology Federal Credit Union’s (First Tech) new Depositivity Bonus Program, and First Tech has brought this promotion back for a limited time. Now through November 30, 2016, you can earn up to a $1.5k bonus on new funds added to any checking, savings, and/or certificate accounts.
|Promotional Tier||Total New Deposits||Bonus Amounts|
|Tier 1||$25,000 - $49,999||$200|
|Tier 2||$50,000 - $99,999||$300|
|Tier 3||$100,000 - $249,999||$500|
|Tier 4||$250,000 - $999,999||$1,100|
Depositivity Bonus Program Requirements
- Promotional code must be added to First Tech account to be eligible.
- Make new deposits to any First Tech share deposit account(s) by November 30, 2016.
- New deposits must total $25k or more by November 30, 2016.
- Leave new deposits in First Tech account(s) for six months from the month the promotional code was added to account.
- On December 1, 2016, First Tech will determine if the account(s) balance(s) increased by $25k or more between August 31, 2016 and November 30, 2016.
- This increased amount will determine which Promotional Tier Bonus applies.
- The bonus payment will be deposited into the Membership Savings account no later than June 15, 2017.
For complete details, please refer to First Tech’s Depositivity 2016 page.
Headquartered in Mountain View, California, First Technology Federal Credit Union’s field of membership is widely diverse, providing virtually all U.S. residents the opportunity to join.
Residency - Individuals who live or work in Lane County, Oregon, qualify for membership.
Employment - Employees of more than 800 high tech and telecom Sponsor Companies are eligible to join, as are State of Oregon employees.
Relationship - Immediate family members of current First Tech members also qualify for membership.
Joining First Tech and opening any type of an account can be done online or by visiting any of 40 branches located in California (10), Colorado (4), Georgia, Idaho, Massachusetts, Oregon (14), Texas, Washington (7), and Puerto Rico.
Credit Union Overview
First Technology Federal Credit Union (NCUA Charter # 19976) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 1.95% (excellent), based on June 30, 2016 data. In the past year, First Tech has increased its total deposits by $973.38 million, an excellent annual growth rate of 17.35%. Please refer to our financial overview of First Technology Federal Credit Union for more details.
First Technology Federal Credit Union was chartered in 1970 when a small group of Hewlett-Packard and Tektronix employees decided to strengthen their individual and collective financial futures. Nearly a half-century later, First Tech has more than 444,500 members and assets in excess of $9.1 billion. First Tech describes itself as,
the nation’s premier credit union serving the world’s leading
technology-oriented companies and their employees, including HP,
Microsoft, Agilent, Intel, CISCO, Amazon, Nike, CH2M Hill, Intuit, Google and more.
How the Depositivity Bonus Compares
The best deal may be First Tech’s 6-month CD, even though its 0.30% APY is well below that of the top two nationally available 6-month CDs. With the addition of a $200 Depositivity Bonus, a $25k deposit would result in an APY of approximately 1.90%.
|Interest Rate||IRA Cert Length of Term||Credit Union/Bank||Estimated Earnings|
|0.90% APY||6-Month CD||Colorado Federal Savings Bank||$113|
|0.87% APY||6-Month lnternet Time Deposit||My e-BAnC by BAC Florida Bank||$109|
|0.30% APY||6-Month CD||First Technology Federal Credit Union||$37.57 + $200 bonus|
The above rates are accurate as of 10/7/2016.