Tower is offering a $300 welcome bonus when you open a new personal checking account and set up direct deposit. They primarily operate outside the Baltimore area and is only available to residents of Maryland this time around. This is the highest bonus we've seen from them (they rarely offer one), so jump on it now and give Tower a shot.
How To Earn The Bonus
The Tower Free Checking promotion requires you to set up and have eligible direct deposits in order to earn the $300 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the credit union will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- Your direct deposit needs to be an electronic deposit of your net paycheck, pension or government benefits (such as Social Security) from your employer or the government.
- To receive this bonus, the enrolled account must not be closed or restricted at the time of payout.
- If the checking account is closed within six months of account opening, Tower reserves the right to deduct the bonus from the account at the time of closing.
- Offer not available to existing Tower checking members, or those whose accounts have been closed within 90 days or closed with a negative balance within the last 3 years.
- You can receive only one new checking account opening related bonus per member.
Open a Free Checking account before the bonus expires on September 30, 2026
How does this personal checking offer from Tower compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
PNC
Virtual Wallet® with Performance Select
- Bonus
- $400
- Account Type
- Personal Checking
- Expires In
- 26 days
- Requires
- Qualifying Direct Deposit
BMO
Personal Checking
- Bonus
- $400 cash bonus*
- Account Type
- Personal Checking
- Expires In
- 34 days
- Requires
- Direct Deposit
Bank of America
Advantage Banking Account
- Bonus
- up to $500
- Account Type
- Personal Checking
- Expires In
- 56 days
- Requires
- Direct Deposit
Why Tower Federal Credit Union?
Tower Federal Credit Union was formed in 1953 and is headquartered in Laurel, MD. Starting with just seven members, Tower has grown to almost 200,000 members worldwide and nearly $4 billion in assets, making it the largest credit union in Maryland.
Tower Federal Credit Union was ranked #1 on Forbes Magazine’s Best-in-State Credit Unions for 2021. In 2020, Tower was one of five Maryland credit unions to make the Forbes Best-in-State list.
Free Checking
Fees
Free Checking does not charge a monthly maintenance fee.
Apply now for a Free Checking account to earn the $300 bonus offer
How to Join Tower Federal Credit Union
Credit unions differ from banks in that they restrict membership based on a shared common bond, or the credit union’s “field of membership”.
That means in order to qualify for this bonus (or any offer from a credit union), you'll first need to meet one of Tower's membership requirements:
- Employees of member companies
- Members of organizations in our field of membership (see list)
- Immediate family members of existing members (spouse, child, sibling, parent, grandparent, grandchild, stepchild, stepparent, stepsibling and adopted child)
- Individuals living in household of an existing member
- Not eligible via above options? Become a member of TowerCares Foundation with a $35 donation.
Keep in mind that nearly all credit unions have a "once a member, always a member" policy, so once you're in, the above restrictions no longer apply.
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