Texans Credit Union Joins 6% Club With New 7-Month Promo CD


Deal Summary: 7-Month Promo Certificate, 6.00% APY, $500 minimum opening deposit, new money.

Availability: 15 Texas counties, including Dallas-Ft. Worth greater metro area.

For a limited time, Texans Credit Union (Texans CU) is offering a 7-month Promo Certificate with a rate-leading 6.00% APY. While there is no stated end-date, “rates and terms are subject to change at any time without notice.”

The minimum opening deposit is $500 of new money with no stated balance cap. The Certificate Account Rates page defines “new money” as,

money not currently on deposit with Texans Credit Union and
does not include funds withdrawn and redeposited within 60 days.

Early Withdrawal Penalty

There is no Truth-in-Savings disclosure available on the Texans CU website. According to CSR, partial withdrawals are not allowed: a 7-month Promo Certificate can only be closed early. The Early Withdrawal Penalty is 180 days on the entire balance, so the principal will be reduced if an early closure occurs within the first six months of account opening.


Headquartered in Richardson (a Dallas suburb), Texans Credit Union field of membership (FOM) is community-based, with U.S. citizens and resident aliens (18 years or older) who live, work, or attend school in the Texas counties of Collin, Cooke, Dallas, Denton, Ellis, Fannin, Fort Bend, Grayson, Harris, Hunt, Kaufman, Rockwall, Tarrant, Travis, and Williamson eligible to join.

The Texans CU FOM has significantly expanded this year, adding nine Texas counties. The most recent expansion included Harris County and Fort Bend County, which are currently the largest and the eighth largest Texas counties by population, respectively.

Employees of any of more than 100 Preferred Businesses (SEGs) are eligible to join.

Immediate family members of anyone eligible to join or a current Texans CU member qualify for membership.

Account Opening

Joining Texans CU and/or opening a 7-Month Promo Certificate can be done online, or in person at any of eleven Texas branches located in Allen, Carrollton, Dallas (2), Frisco, Garland (2), McKinney, Plano, Richardson, and Wylie. While there is a link to schedule an appointment, it currently leads to a blank page.

Fund your new savings account with a minimum of $5 using a debit card or ACH payment.

Funding and Other Details

The following information is from the fine print on the Texans CU Certificate Account Rates page and a conversation with a very helpful CSR.

  • Funding – ACH, wire ($10 fee), or Shared Branch transfer.
  • CO-OP Shared Branch Participant – Yes.
  • Ownership – Individual, joint, or trust is possible, but must match the membership account, e.g., if you open an individual membership, the Promo Certificate can only be opened as an individual account.
  • Dividends – Compounded/credited monthly, but earned dividends cannot be withdrawn.
  • Maturing Funds – Transferred to a Texans CU Savings account.
  • Grace Period – 10 calendar days before automatic renewal as a 6-month CD “with the applicable rate in effect at the time of renewal.”
  • Beneficiaries – Unlimited with equal shares; Social Security numbers are required for all beneficiaries.
  • Credit check – ChexSystems.

Credit Union Overview

Texans Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 1.25% (excellent) based on June 30, 2023 data. In the past year, Texans CU’s total non-brokered deposits decreased by $54.76 million, a below average annual growth rate of -2.74%. Please refer to our financial overview of Texans Credit Union (NCUA Charter # 60806) for more details.

Chartered in 1953, the original Texins Credit Union was established to “promote thrift and provide low-cost loans to TI [Texas Instruments] employees.” Membership in Texins CU grew rapidly, with assets in excess of $6,850 (more than $76k in 2023 dollars) and more than 265 members joining in the first three months. The original “TI employees only” membership remained in effect for 38 years before other SEGs were added to the FOM. A community charter was adopted in 1998, with the Texans Credit Union rebrand occurring at the same time. Texans CU is currently the 17the largest credit union headquartered in Texas, with more than 118,000 members and assets in excess of $2.1 billion.

How the 7-Month Promo Certificate Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the market area and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Texans Credit Union 7-Month Promo Certificate. The following table compares the 7-Month Promo Certificate to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 9/26/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Dallas CD rates, 1-year CD rates

High-Yield Reward Checking Account at Texans Credit Union

Update 9/9/2010: The top rate has fallen to 2.02% APY, and it is closed to new accounts.

Texans Credit Union is offering a reward checking account called High Rate Checking. It pays 2.02% APY on balances up to $25,000 (0.10% for above) if the following monthly requirements are met:

  • 15 debit card purchases
  • one direct deposit or automatic ACH withdrawal

If these requirements are not met, the rate falls to 0.10%. Minimum initial deposit is $50. There are no minimum balance requirements and no monthly fees.

One thing to note is there is no...

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The credit union is still advertising a $100 bonus for opening a checking account with direct deposit. I had first reported on this $100 bonus last month.

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