Texas Trust Credit Union's Power Checking Earns 3.00% APY


Deal Summary: Power Checking, 3.00% APY on balances between $5k and $100k, $5k minimum opening deposit.

Availability: Residents of six North Central Texas counties and one Concho Valley county.

Texas Trust Credit Union (Texas Trust) recently increased the rate on its Power Checking account from 1.00% APY to 3.00% APY on qualifying balances between $5k and $100k. Balances below $5k and about $100k do not earn any interest. The minimum opening deposit is $5k.

1.50*%$5k$100kTexas Trust Credit UnionPower Checking
Rates as of June 27, 2022.

Other than maintaining a minimum $5k balance, the only other monthly requirement to earn the stated APY is a minimum of 20 non-ATM debit card transactions. That’s it. Due to this debit card usage requirement and the $100k cap, I consider this a reward checking account. The $100k cap and the 3.00% APY give it a big advantage over all other reward checking accounts which typically have caps in the range of $10k to $25k.

There is no monthly service fee, but monthly paper statements incur a $3 fee, if requested along with online communication and electronic statements. As stated in Truth-in-Savings disclosure,

Paper statements are free if not opted in to
Online Communication and Banking (Electronic Statements).

While there is no reimbursement for ATM fees, Texas Trust CU participates in the AllpointTM ATM Network. There is also a $25 early closure fee if the Power Checking account is closed within the first 12 months.

Extra Perks

A minimum $5k balance in a Power Checking account also qualifies for:

  • Up to five free domestic wires per month
  • Two free stop payments per year
  • Free starter pack of 25 checks
  • No annual fee on a 3x5x22 safe deposit box

I'd like to thank the long-time DA reader who emailed me about Texas Trust’s “All Gain, No Pain” Power Checking rate increase.


Headquartered in the Dallas suburb of Arlington, Texas Trust Credit Union’s field of membership (FOM) includes individuals who live, work, or worship in the Texas counties of Dallas, Henderson, Tarrant, or Tom Green Counties, or in select areas of Denton, Ellis, or Johnson Counties.

UT Arlington alumni and students (both current and incoming) are also eligible to join.

Family members of individuals eligible to join Texas Trust are also welcome to apply.

Joining Texas Trust and/or opening a Power Checking account can be done online, or at any of 21 Texas branches, located in Arlington (7), Athens, Bedford, Cedar Hill, Flower Mound, Grand Prairie (3), Hurst, Irving, Mansfield (2), Midlothian, and San Angelo (2).

Credit Union Overview

Texas Trust Credit Union has an overall health rating of "A" on DepositAccounts.com, with a Texas Ratio of 3.09% (excellent), based on September 30, 2018 data. In the past year, Texas Trust has increased its total non-brokered deposits by $202.65 million, excellent annual growth rate of 27.8%. Please refer to our financial overview of Texas Trust Credit Union (NCUA Charter # 68434) for more details.

While Texas Trust Credit Union is currently the 17th largest credit union in Texas, its journey began in Connecticut in 1936 when the employees of the Chance Vought Aircraft Corporation (CVAC) established a credit union. Twelve years later, CVAC relocated to Dallas and by 1952 the Credit Union was the largest in Texas. The Texas Trust re-brand occurred in 2004 following two mergers and FOM expansion. In 2013, Texas Trust merged with Arlington-based Security One Federal Credit Union and was named the Credit Union Sponsor of the University of Texas at Arlington Intercollegiate Athletics. Following the 2017 merger with Qualtrust Credit Union, Texas Trust’s membership has grown to more than 113,700, and with assets in excess of $1.2 billion.

How the Power Checking Compares

The unique dollar limitations on the Power Checking makes a suitable comparison with other rewards checking accounts difficult, with none of the scenarios I thought of working out very well. A better choice is comparing the Power Checking account to the top internet bank savings account.

The above rates are accurate as of 12/13/2018.

Looking to open a Reward Checking Account? Please refer to our High Yield Reward Checking Account Rates Table page for both nationwide and state specific accounts.

Related Pages: Dallas checking accounts, San Angelo checking accounts, reward checking accounts

  |     |   Comment #1
Does this bank use chexsystems? I have a link https://checkgain.com/non-chexsystems-banks/ where I can see the banks without using this clients' checking, but I can find this bank there.
  |     |   Comment #10
You should assume that 97%+ of banks & cu's use chexsystems.
  |     |   Comment #2
I'd prefer Robinhood.com as they are offering 3% on checking and savings and I don't believe it is even tiered so just a flat 3% unless i am mistaken.
  |     |   Comment #3
Some type of money market fund. Be careful, it is not FDIC insured (SIPC isa different animal). Take a very close look before you invest.
  |     |   Comment #4
Similar to a bank, Robinhood keeps your cash in interest-earning assets. Because we’re a brokerage, we only use the safest assets, such as U.S. treasuries that are backed by the full faith and credit of the U.S. government. These assets yield interest, and we pass those earnings back to you.

We base our 3% interest rate off of the U.S treasuries yield, which is determined by the Federal Funds Rate. These rates change depending on the strength of the economy. As these rates change over time, we may have to adjust our 3% rate. Regardless, our goal is to offer our customers as much return on their money as possible.

Robinhood offers Checking & Savings through a brokerage account and it offers the Robinhood debit card in partnership with Sutton Bank.
payul sion
  |     |   Comment #5
The obvious question is how does anyone invest in US Treasuries at under 3%, pay a yield of 3%, and make a profit.

It really is an obvious question, and the fact that they don't even ask the question raises another question.
payul sion
  |     |   Comment #8
you think robinhood is giving out 3% interest, more than the treasuries they claim to invest in, as a gift?
  |     |   Comment #9

Texas Trust Credit Union (TX) Adds 19-Month Promo CD
Deal Summary: 19-month Promotional CD, 2.70% APY, $500 minimum deposit, with a $1 million maximum deposit per member.

Availability: Residents of six North Central Texas counties and one Concho Valley county.

Texas Trust Credit Union (Texas Trust) is offering a “Texas-sized return” of 2.70% on its 19-month Promotional CD. This limited-time offer can be opened with a $500 minimum deposit, and is capped at a $1m per member. According to the fine print on the Share CD page, “At maturity, deposits and interest will renew as a 12-month...

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