First Technology FCU Depositivity Bonus Program Can Earn Up To $1.5K

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Move your savings to First Technology Federal Credit Union (First Tech) and you can earn up to $1.5K with First Tech’s new "Depositivity Bonus Program."

New funds added to any checking, savings, or certificate accounts by November 30, 2014 are eligible for the Depositivity Bonus Program.

In early September, I wrote about First Tech’s 36-month CD (1.60% APY), which is still available, and which qualifies for the Depositivity Bonus Program.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.35%$500-First Technology Federal Credit Union36 Month CD
Accounts mentioned in this post. Rates as of August 28, 2016.

The Depositivity Bonus Program is tiered as follows:

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

$1,000

Tier 5

$1,000,000

$1,500

How To Qualify

  • Promotional code must be added to First Tech account to be eligible.
  • Make new deposits to any First Tech share deposit accounts by November 30, 2014.
  • New deposits must total $25K or more by November 30, 2014.
  • Leave new deposits in First Tech account(s) for six months from the month the promotional code was added to account.
  • On December 1, 2014, First Tech will determine if the account(s) balance(s) increased by $25K or more between August 31, 2014 and November 30, 2014.
  • This increased amount will determine which Promotional Tier Bonus applies.

For complete details, please refer to First Tech’s Depositivity Program Bonus Requirements page.

Availability

First Technology Federal Credit Union’s field of membership is widely diverse, providing virtually all U.S. residents the opportunity to join.

On a local level, if you live or work in Lane County, Oregon, or are employed by the State of Oregon, you are eligible for membership.

On a national level, if you work for any of hundreds of high tech and telecom sponsor companies you are eligible.

And finally, by joining the Financial Fitness Association ($5 yearly membership fee), you are eligible. For complete details, please refer to First Tech’s "Join Us" page.

Joining First Tech and opening a CD can be done online or by visiting any of 41 branches located in California (11), Colorado (4), Georgia, Idaho, Massachusetts, Oregon (14), Texas, and Washington (7), and Puerto Rico. For more detail, please refer to First Technology Federal Credit Union locations page.

Credit Union Overview

First Technology Federal Credit Union has an overall health grade of A+ at DepositAccounts.com, with a Texas ratio of 3.32% (excellent) based on June 30, 2014 data. In the past year, First Tech increased its total deposits by $294.63 Million, an excellent growth rate of 6.14%. Please refer to our financial overview of First Technology Federal Credit Union for more details.

First Technology Federal Credit Union (NCUA Charter # 19976) 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 is nearly 350,000 members strong and holds assets of $6.85 Billion.

How The CD Compares

Given First Tech’s fairly relaxed membership requirements, the following comparison is based on similar length-of-term CDs tracked by DepositAccounts.com, with a $25K minimum deposit and available nationally.

I have included the Estimated Earnings (based on a $25K deposit) to demonstrate the value of First Tech’s Depositivity Bonus Program in this example. After adding the $200 Bonus in this example, the interest rate for First Tech's 36-month CD would be approximately 1.86% APY.

Interest Rate

CD Length

Financial Institution

Estimated Earnings

1.71% APY 35-month CD Special USAlliance Credit Union $1,270
1.66% APY 3-year Share Certificate Melrose Credit Union $1,266
1.60% APY 36-month CD First Technology Federal Credit Union $1,223 + $200 Bonus

These rates are accurate as of 11/3/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

Comments
Kaight
Kaight   |     |   Comment #1
Quick like back of the napkin looks as if you could drop $250K into savings (treat it like a CD if you wish even though the money remains liquid), and end up with an APY of circa 1.1+% after six months.  That's a decent interest rate today for such a short investment, if I did the math correctly.  Anyone see an even better short deal?
Kaight
Kaight   |     |   Comment #2
ETA

Whoops, I messed up.  An even better deal (higher rate) would be had by not going in so heavy.  The rewards are not proportional to amount invested.
Anonymous
Anonymous   |     |   Comment #3
By my math it works out to 1.6 for 25K for the six months ignoring whatever actual interest is paid on the account.  At 50K it drops to 1.2 and at 100K it looks like 1%.  Everbank has an introductory 6 month checking offer at 1.4 for balances below 100K, which is the best other (non RCA) widely available short term deal I am aware of.  BTW, it appears that First Tech has an RCA that pays 1.58 so that would increase the earnings a lot but would add hassle; not sure how that compares to other RCAs.  
Anonymous
Anonymous   |     |   Comment #4
To follow up on my earlier post, the RCA rate is just for balances up to 10K.  So if you put in 25K and kept it there 6 months and fulfilled all RCA conditions, you would gain $79 based on the 10K portion eligible for RCA rate, plus the $200 bonus.  This is something like 2.23 overall for 6 months if I did the math right.  
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