Snag a $250 Bonus from Shell FCU: A Texas-Exclusive Checking Deal

Hey folks, if you're in Texas and looking to give your finances a little boost, there's a solid checking account bonus on the table right now. Shell Federal Credit Union is dangling a nice $250 carrot for new members who jump through a few reasonable hoops. It's not a nationwide deal—it's specifically for folks connected to Harris County—but if you qualify, it's worth a close look. Let's break down what it takes to get that cash and what you need to watch out for.

Who Can Actually Get This Bonus?

This isn't an offer for everyone. Shell FCU has a specific field of membership, which is common for credit unions. To even apply, you need a connection to Harris County, Texas. That means living there, working there, attending school or church there, or regularly doing business in the county.

Once you confirm you're eligible, you'll need to become a member. This involves opening a savings account with a $5 deposit. Only then can you open the new checking account to go after the bonus. Think of it as a two-step process: first membership, then the bonus account.

Your Step-by-Step Game Plan for the $250

The clock starts ticking as soon as your new checking account is open. You have a 90-day window to complete all the following tasks. Miss one, and the bonus slips away.

• Fund the account. You only need a single dollar to get started.
• Let at least $2,000 flow into the account via 'consumer ACH direct deposits.' This typically means payroll from your job, government benefits (like Social Security), or other regular, pre-arranged payments from a third party. Transfers you initiate yourself from another bank won't count.
• Opt for paperless statements. You must enroll in eStatements using a valid email address.
• Log in at least once. You need to access your account through Shell FCU's Digital Banking platform.

Practical Advice and Potential Pitfalls

A $250 return on a $1 deposit sounds fantastic, but the devil is always in the details. Here's what you should keep top of mind.

First, the direct deposit requirement is the big one. You need to ensure your payroll provider can send $2,000 to this account within three months. If you're paid bi-weekly, that's about six paychecks averaging $334 each. Plan your switch accordingly.

Second, you're making a six-month commitment. If you close the account for any reason before that half-year mark, they will take the bonus back. Make sure you're okay with keeping the account open and in good standing.

Third, remember the tax man. That $250 is considered interest income, so you'll get a 1099-INT form next January. It's not 'free money' come tax time.

A final word of caution: some details are unclear from the public offer page. It doesn't specify if they use ChexSystems (a checking account reporting agency) or if funding with a credit card is possible. If you have a history of mishandled bank accounts or were hoping to meet a spend requirement with a credit card, you might want to contact the credit union directly before applying.

Bottom Line

• A strong $250 bonus for eligible Texans, but geographic restrictions apply.
• The $2,000 direct deposit requirement is the main hurdle; ensure your cash flow supports it.
• Plan to keep the account open for at least six months to avoid forfeiting the bonus.
• This is taxable income, so set aside a little for next year's tax bill.

Common Questions