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 e-statement requirement. However, if you choose paper statements, the cost is $2 per statement. Also note that there doesn't seem to be any refunds of ATM fees. But like most credit unions, they have a large network of surcharge-free ATMs. One of the perks offered by this account is free checks.

Membership is open to those who live, work or attend school in Dallas, Collin, Rockwall, Grayson, Travis and Williamson counties, and parts of Denton County. Please refer to the credit union's Membership Page for the full details. Membership requires a minimum $25 balance in a share savings account.

Branches are located in the Dallas area, in Austin and in Stafford, Texas (a suburb of Houston). The credit union is federally insured by the NCUA (Charter # 60806).

$25 Refer-a-Friend Bonus

A reader who has this account emailed me news that Texans Credit Union has a $25 refer-a-friend bonus for this account. If you're going to open this account and want $25, please email me at bankdeals at gmail dot com, and I'll forward your email to the reader and he can provide instructions for the $25.

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.

Edit 2/04/09: Added Stafford to the branch list.

Rate History:

  • ??/??/10: 2.02% APY up to $25K; 0.10% over; 0.10% base (closed to new accounts)
  • 07/01/09: 3.90% APY up to $25K
  • 02/04/09: 4.25% APY up to $25K; 0.25% over; 0.25% base
Anonymous   |     |   Comment #1
For locations, please add "and Stafford, Texas (a suburb of Houston).
Anonymous   |     |   Comment #2

great!!! excellent info. Keep it up
Anonymous   |     |   Comment #3
As of Jan 14, 2010, the Stafford location will close.  Casualty of bad economic times. 
6.00% 12-Month CD at a Texas CU (Texans).
Texans Credit Union has a special 6.00% APY 12-month certificate. The minimum deposit is $1K. The CD is also available for an IRA.

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.

The last CD special this credit union was offering was a 5.35% APY 48-month CD that I had reported on in April. It's interesting to note that this old 48-month CD special had a bump-up option. The current APY of the 48-month...

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$100 Checking Account Bonus at a Texas CU
Texans Credit Union is offering a $100 bonus for opening a checking account with direct deposit. Direct deposit with a minimum monthly deposit of $400 is required. The checking account with direct deposit must remain open for a minimum of 6 months to retain the bonus. A $50 minimum opening balance is required. Also, a $25 opening deposit to the savings account is required for credit union membership. The offer ends 12/31/06. This special is not listed at the credit union's website. It was advertised in the June 17th edition...
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