Tower Federal Credit Union is offering a $300 checking account bonus for new and eligible members who open a Tower Checking account between April 21, 2025, and July 31, 2025, and complete two recurring direct deposits of $1,000 or more within 90 days of account opening . The offer is available to U.S. residents in MD, DC, DE, PA, VA, and WV, as well as Department of Defense (DoD) personnel and their families, and existing Tower members as of April 20, 2025, provided they have not had a Tower checking account in the prior 90 days or closed a checking account with a negative balance within three years . No monthly maintenance fees apply, and the application process uses a soft credit pull—ChexSystems inquiries are not performed—and applicants can fund up to $500 using a credit card . The bonus will be deposited within 60 days after meeting all requirements, but if the account is closed or direct deposit is discontinued within six months of opening, Tower reserves the right to deduct the bonus .
Direct Link to OFFER
Get $300 for Opening a New Tower Checking Account – Limited-Time Offer for MD, DC, DE, PA, VA, WV Residents (Ends July 31, 2025)
Offer Overview
Tower Federal Credit Union (“Tower FCU”) is extending a $300
cash bonus to individuals who open a new Tower Checking account during the
promotion period, which runs from April 21, 2025, through July 31, 2025 . The bonus is deposited once the new account holder
completes at least two recurring direct deposits of $1,000 or more each into
the new checking account within 90 days of account opening . Those who meet all requirements will receive the $300
bonus within 60 days of satisfying the direct deposit criteria .
Promotion Dates
- Start
Date: April 21, 2025
- End
Date (Account Opening): July 31, 2025
- Direct
Deposit Window: Must complete two qualifying deposits within 90 days
of account opening
- Payout
Timeline: Bonus credited within 60 days after requirements are met
Eligibility and Requirements
Geographic and Membership Eligibility
- Residency
Requirement: Must be a legal U.S. resident with a valid Social
Security number or taxpayer identification number and reside in one of the
following states: Maryland, Washington, D.C., Delaware, Pennsylvania,
Virginia, or West Virginia .
- DoD
Personnel & Families: Active and retired Department of Defense
personnel (and their immediate family members) stationed in MD, DC, DE,
PA, VA, or WV qualify for membership regardless of residential address .
- Existing
Tower Members: Individuals who were Tower FCU members as of April 20,
2025, but who do not currently have an open Tower checking account and
have not closed a checking account with a negative balance in the past
three years .
- Exclusions:
Account Opening and Funding
- Minimum
Opening Deposit: $10 is required to open a Tower Checking account .
- Direct
Deposit Requirement: Two recurring electronic deposits of net
paycheck, pension, or government benefits (e.g., Social Security) of at
least $1,000 each must post to the new checking account within 90 days of
account opening . Person-to-person transfers (e.g., Zelle®), internal
transfers from another account, and third-party transfers (e.g., brokerage
or external bank transfers) do not qualify .
Credit Inquiry and ChexSystems
- Credit
Check: Tower FCU performs a soft pull on credit; therefore,
your credit score is not affected.
- ChexSystems:
No ChexSystems inquiry is performed for opening the Tower Checking account
.
Credit Card Funding Option
- Credit
Card Funding: Applicants can fund the new checking account with up to
$500 from a credit card without incurring additional fees.
Steps to Qualify for the $300 Bonus
- Open
a New Tower Checking Account
- Visit
a Tower FCU branch in MD, DC, DE, PA, VA, or WV—or apply online—to open a
new Tower Checking account between April 21 and July 31, 2025 .
- Ensure
you meet membership eligibility: provide proof of residency (or DoD
affiliation), a valid U.S. taxpayer ID, and the minimum $10 deposit .
- Establish
Recurring Direct Deposits
- Set
up two recurring direct deposits of $1,000 or more each from an employer,
pension provider, or government agency into the new checking account.
- Both
direct deposits must post within 90 days of account opening to be
considered qualifying .
- Maintain
the Account in Good Standing
- Do
not close the checking account or discontinue recurring direct deposits
for at least six months after account opening.
- The
account must not be restricted at the time the bonus is paid .
- Receive
Your Bonus
- Once
Tower FCU verifies that two qualifying direct deposits have posted, the
$300 bonus will be deposited into the checking account within 60 days .
- Tax
Reporting
Bonus Terms and Conditions
Payout and Forfeiture
- Payout
Timing: After meeting all requirements, Tower FCU credits the $300
bonus within 60 days .
- Forfeiture
Clause: If the checking account is closed or if qualifying direct
deposits cease within six months of account opening, Tower reserves the
right to deduct the entire bonus amount from the account .
Limitations
- One
Bonus Per Member: Only one $300 bonus is allowed per member .
- Non-Transferable:
The bonus cannot be combined with other Tower FCU checking promotions and
cannot be transferred to another individual .
- Account
Status: The account must be active and in good standing (i.e., not
restricted or closed) at the time of bonus payout .
Other General Terms
- Membership
Eligibility: Must qualify for Tower FCU membership (e.g., live or work
in MD, DC, DE, PA, VA, or WV; DoD affiliation; or existing Tower
membership if criteria are met) .
- Minimum
Balance Requirement: No ongoing minimum balance is required beyond the
$10 opening deposit .
- Monthly
Maintenance Fees: There are no monthly maintenance fees associated
with Tower Checking accounts .
Account Features and Ongoing Benefits
- No
Monthly Service Fees: Tower Checking accounts are free of monthly
maintenance charges.
- Digital
& Mobile Banking: Access account statements, transfer funds, pay
bills, and deposit checks remotely via Tower FCU’s mobile app and online
banking portal.
- ATM
Access: Members can use any ATM in the Allpoint® network
surcharge-free; out-of-network ATM fees may apply.
- Overdraft
Protection Options: Overdraft protection available through linked
savings or a line of credit (subject to approval).
- Debit
Card Features: Visa® debit card with EMV chip protection for secure
transactions; no annual fees.
How This Bonus Stacks Up
- Competitive
Edge: A $300 bonus for two direct deposits of $1,000 each is
competitive among local credit union offerings in the Mid-Atlantic region .
- Soft
Pull & No ChexSystems: Many institutions perform hard inquiries or
review ChexSystems, potentially impacting credit or membership
eligibility. Tower FCU’s use of a soft pull and no ChexSystems check
lowers barriers to entry .
- No
Minimum Balance & No Fees: The lack of monthly fees and low
balance requirement make the account attractive for students, young
professionals, and DoD personnel.
- Referral
Program Synergy: In addition to the $300 new-member bonus, Tower FCU
offers a $150 Mastercard® Reward Card to existing members for referring
new checking customers who meet the direct deposit requirement.
Important Dates to Remember
- April
21, 2025: Promotion begins; first day to open a new Tower Checking
account for bonus eligibility .
- July
31, 2025: Final day to open a Tower Checking account and qualify for
the $300 bonus .
- Within
90 Days of Account Opening: Must complete two recurring direct
deposits of $1,000 or more .
- Within
60 Days After Qualifying: Bonus is deposited into the checking account
.
Conclusion and Recommendations
The Tower Federal Credit Union $300 checking bonus provides
a compelling incentive for residents of MD, DC, DE, PA, VA, and WV, as well as
DoD personnel and their families, to open a new Tower Checking account . With minimal requirements—two recurring direct deposits
of $1,000 each—no monthly fees, and no ChexSystems inquiry, this promotion is
particularly attractive for individuals seeking a low-cost checking solution . Prospective members should ensure they meet all
eligibility criteria, complete the required direct deposits within 90 days, and
maintain the account in good standing for six months to avoid forfeiture . For those already eligible, acting early in the promotion
period is recommended, as similar offers have historically ended sooner than
scheduled .
To learn more or to open a new checking account, visit the Tower FCU Checking Bonus page