3 star ratingAverage User Rating:
3 star rating based on 2 reviews.

General Electric Credit Union

General Electric Credit Union Locations
10485 Reading Road
Cincinnati, OH 45241
800.542.7093
www.gecreditunion.org

General Electric Credit Union is headquartered in Cincinnati and is the 2nd largest credit union in the state of Ohio. It is also the 114st largest credit union in the nation. It was established in 1954 and as of December of 2011, it had grown to 126 employees and 98,119 members. General Electric Credit Union's CD rates are 40% higher than the national average, and it boasts a 5-star health rating.

General Electric Credit Union Routing Number: 242076821

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Rates Down But Still Competitive at General Electric CU in Ohio - 4/5/2012

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Top 1-Year CD Rate at General Electric Credit Union in Ohio - Local Only - 9/9/2011

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Top CD and Money Market Rates at General Electric Credit Union in Ohio - Local Only - 1/9/2011

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

General Electric Credit Union Checking Account Rates

ApyMinMaxProduct
0.85%$25k-Premium FREE Checking
0.10%$7,500-HSA Share Draft Checking
0.10%$7,500-Share Draft Checking

General Electric Credit Union Savings Account Rates

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0.25%--Share Savings
0.25%--IRA Passbook
0.25%--Christmas Club
0.25%--Vacation Club

General Electric Credit Union Money Market Rates

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1.10%$50k-Money Market Plus Account

General Electric Credit Union CD Rates

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2.33%$500-5-Year Share Certificate
1.48%$500-30-Month Share Certificate
1.26%$100k-1-Year Jumbo Share Certificate
1.23%$500-2-Year Share Certificate
1.04%$500-18-Month Share Certificate
0.90%$500-1-Year Share Certificate
0.70%$500-182-Day Share Certificate

General Electric Credit Union IRA Rates

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2.39%$100k-5-Year Jumbo IRA
1.95%$2k-3-Year HSA Certificate
1.70%$2k-3-Year IRA
1.50%$2k-2-Year HSA Certificate
1.27%$100k-1-Year Jumbo IRA
1.25%$2k-2-Year IRA
1.25%$1k-18-Month HSA Certificate
1.06%$500-1-Year HSA Certificate
1.05%$1k-18-Month IRA
0.91%$500-1-Year IRA

Rates updated: 5/25/2012

Data for Q4 2011


Institution Statistics


GENERAL ELECTRIC
NCUA #68574
BankRate ReportView
Year Chartered1954
Employees126
Primary Regulator

Assets and Liabilities

Assets$1.39 billion
Loans$1.20 billion
Deposits$1.11 billion
Equity Capital$172.79 million
Loan Loss Allowance$5.42 million
Unbacked Noncurrent Loans$9.99 million
Real Estate Owned$665,000

Historic Data - December 2010

Assets$1.19 billion
Equity Capital$153.58 million
Loan Loss Allowance$4.76 million
Unbacked Noncurrent Loans$10.21 million
Real Estate Owned$556,000

Profit Margin - Quarterly

Net Interest Margin3.08%
Return on Assets1.38%
Return on Equity11.12%
Interest Income$55.41 million
Non-Interest Income$6.88 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 December 31, 2011 General Electric Credit Union had $10.66 million in non-current loans and owned real-estate with $178.21 million in equity and loan loss allowances on hand to cover it. This gives General Electric Credit Union a Texas Ratio of 5.98% 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 General Electric Credit Union held steady from 6.80% as of December 31, 2010 to 5.98% as of December 31, 2011, resulting in a positive change of 12.05%.This indicates that the balance sheet and financial strength for General Electric Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, General Electric Credit Union has increased its total deposits by $136.21 million, resulting in 13.94% 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 General Electric Credit Union has shown is excellent.
Capitalization5
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. General Electric Credit Union has $1.39 billion in assets with $178.21 million in equity, resulting in a capitalization level of 12.81%, which is excellent.
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Great Interest Rates, Convenient, Great Service
5 stars - jdb - Tuesday, April 3, 2012 - 6:31 AM

I opened an account at GECU at the end of last year. I found their interest rates on savings to be the best in the Cincinnati area. May move other credit union accounts here because the rates are so much better.

They also have real true electronic bill payment and not mailing of checks.

Their service has been very good and they have a number of office locations in the area. The closest branch is located in a local hospital and the access is very easy.

I have used the phone support when I first opened the account and it was prompt and very helpful. They resolved a problem quickly and to my complete satisfaction.

3

Horrible Customer Service If Calling In
1 stars - brownja1 - Friday, February 3, 2012 - 1:27 PM

I recently lost my vehicle to a head-on collision where the other party was 100% at fault.  Every time I have called GECU it takes more than 6 minutes to answer a call, and I'm usually on the phone for about 20 minutes if I have a question, with only a few minutes actually spent talking to someone.  They refused to delay payments or stop interest. They don't have a branch close to me, so not sure why the dealership picked them.  They refuse to make a simple note to state that additional principal payments were to be applied to the rediculous $175 loan/application fee.  I will never have another account with them and will gladly pay a higher interest rate on future vehicle loans to avoid GECU.

3
 
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