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Erie General Electric Federal Credit Union

Erie General Electric Federal Credit Union Locations
2154 East Lake Road
Erie, PA 16511
800.214.8757
www.egefcu.org



Erie General Electric Federal Credit Union is headquartered in Erie and is the 26th largest credit union in the state of Pennsylvania. It is also the 746th largest credit union in the nation. It was established in 1936 and as of September of 2011, it had grown to 85 employees and 30,701 members. Erie General Electric Federal Credit Union has a 5-star health rating.

Related Posts

Erie GE FCU Dropped Their HD Checking Rate... (Forum) - 1/2/2012

from (4.07%, $25K) to (3.5%, $25K), effective 1/1/12.  Another 4% club member bails out (four left).  See the original seven here: http://www.depositaccounts.com/blog/2011/12/the-best-reward-checking-accounts-in-the-nation.html #1, #3, and #5

Erie GE FCU Dropped Rate On HD Checking... (Forum) - 3/25/2011

from (5.12%, $25K) to (4.07%, $25K) today, one of the last two 5% club member ... gone. The reduced rate is retroactive from 1 March 2011. Southern Bank is the only 5% club left... count-down begins...

High-Yield Reward Checking Account at a Pennsylvania CU (Erie General Electric) - 5/12/2008

Update 5/14/09: The top yield has fallen to 5.11% APY. Refer to the bottom of the post for the rate history.Erie General Electric FCU has a reward checking account called High Dividend Checking which pays 5.11% APY on balances up to $25,000 (none paid...



See Rates for: Checking | Savings | Money Market | CD | IRA

Erie General Electric Federal Credit Union Checking Account Rates

ApyMinMaxProduct
3.56%$500$25kHD Checking
0.25%$1k-Experience Checking (Age 50+)

Erie General Electric Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.25%$100-Share Savings
0.25%--Holiday Club
0.25%--Vacation Club
0.25%--Special Savings

Erie General Electric Federal Credit Union Money Market Rates

ApyMinMaxProduct
0.53%$100k-Money Market Account

Erie General Electric Federal Credit Union CD Rates

ApyMinMaxProduct
2.58%$250k-60 Month CD
2.07%$250k-48 Month CD
1.66%$250k-36 Month CD
1.46%$250k-30 Month CD
1.26%$250k-24 Month CD
1.21%$250k-18 Month CD
1.11%$250k-12 Month CD
1.11%$250k-13 Month CD
1.11%$250k-15 Month CD
1.06%$250k-9 Month CD
1.06%$250k-10 Month CD
1.06%$250k-11 Month CD
1.00%$250k-6 Month CD
1.00%$250k-7 Month CD
1.00%$250k-8 Month CD
0.89%$250k-5 Month CD
0.70%$250k-4 Month CD
0.54%$250k-3 Month CD

Erie General Electric Federal Credit Union IRA Rates

ApyMinMaxProduct
2.58%$250k-60 Month IRA
2.58%$250k-60 Month Roth IRA
2.58%$250k-60 Month CESA
2.07%$250k-48 Month IRA
2.07%$250k-48 Month Roth IRA
2.07%$250k-48 Month CESA
1.66%$250k-36 Month IRA
1.66%$250k-36 Month Roth IRA
1.66%$250k-36 Month CESA
1.46%$250k-30 Month IRA
1.46%$250k-30 Month Roth IRA
1.46%$250k-30 Month CESA
1.26%$250k-24 Month IRA
1.26%$250k-24 Month Roth IRA
1.26%$250k-24 Month CESA
1.21%$250k-18 Month IRA
1.21%$250k-18 Month Roth IRA
1.21%$250k-18 Month CESA
1.11%$250k-12 Month IRA
1.11%$250k-13 Month IRA
1.11%$250k-15 Month IRA
1.11%$250k-12 Month Roth IRA
1.11%$250k-13 Month Roth IRA
1.11%$250k-15 Month Roth IRA
1.11%$250k-12 Month CESA
1.11%$250k-13 Month CESA
1.11%$250k-15 Month CESA
1.06%$250k-9 Month IRA
1.06%$250k-10 Month IRA
1.06%$250k-11 Month IRA
1.06%$250k-9 Month Roth IRA
1.06%$250k-10 Month Roth IRA
1.06%$250k-11 Month Roth IRA
1.06%$250k-9 Month CESA
1.06%$250k-10 Month CESA
1.06%$250k-11 Month CESA
1.00%$250k-6 Month IRA
1.00%$250k-7 Month IRA
1.00%$250k-8 Month IRA
1.00%$250k-6 Month Roth IRA
1.00%$250k-7 Month Roth IRA
1.00%$250k-8 Month Roth IRA
1.00%$250k-6 Month CESA
1.00%$250k-7 Month CESA
1.00%$250k-8 Month CESA
0.89%$250k-5 Month IRA
0.89%$250k-5 Month Roth IRA
0.89%$250k-5 Month CESA
0.70%$250k-4 Month IRA
0.70%$250k-4 Month Roth IRA
0.70%$250k-4 Month CESA
0.54%$250k-3 Month IRA
0.54%$250k-3 Month Roth IRA
0.54%$250k-3 Month CESA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


ERIE GENERAL ELECTRIC FCU
NCUA #1117
BankRate ReportView
Year Established1936
Employees85
Primary Regulator

Assets and Liabilities

Assets$243.08 million
Loans$131.22 million
Deposits$220.00 million
Equity Capital$21.88 million
Loan Loss Allowance$504,000
Unbacked Noncurrent Loans$842,000
Real Estate Owned$96,000

Historic Data - September 2010

Assets$223.37 million
Equity Capital$20.29 million
Loan Loss Allowance$694,000
Unbacked Noncurrent Loans$826,000
Real Estate Owned$182,000

Profit Margin - Quarterly

Net Interest Margin3.65%
Return on Assets0.59%
Return on Equity6.53%
Interest Income$7.33 million
Non-Interest Income$2.86 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Erie General Electric Federal Credit Union had $938,000 in non-current loans and owned real-estate with $22.38 million in equity and loan loss allowances on hand to cover it. This gives Erie General Electric Federal Credit Union a Texas Ratio of 4.19% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Erie General Electric Federal Credit Union held steady from 4.80% as of September 30, 2010 to 4.19% as of September 30, 2011, resulting in a positive change of 12.77%.This indicates that the balance sheet and financial strength for Erie General Electric Federal Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, Erie General Electric Federal Credit Union has increased its total deposits by $17.87 million, resulting in 8.84% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Erie General Electric Federal Credit Union has shown is excellent.
Capitalization3
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Erie General Electric Federal Credit Union has $243.08 million in assets with $22.38 million in equity, resulting in a capitalization level of 9.21%, which is average.
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Worst People Do Deal With
1 stars - laurateng - Friday, January 28, 2011 - 5:08 PM

I tried to open an account with them and transferred $525 as my opening deposit. The money was transferred to them right away, but the next day I got an email from them saying they could not open the account for me. I politely asked them to return the $525 to me. They said that they would. A week later, I still haven't received the check in the mail, so I got a hold of them and found that they never processed the refund of the $525. I asked them to transfer back the $525 via ACH and was told, "We have never done that before and do not know if we can do that." ARE YOU KIDDING ME??? you are a bank and you don't know how to perform an ACH transaction???

Anyways, this bank makes it so easy to receive funds but impossible for you to get a refund. Should avoid this bank at all cost.

5