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513-243-4328
10485 Reading Rd
Cincinnati, OH 45241-2523

General Electric Credit Union is headquartered in Cincinnati and is the 2nd largest credit union in the state of Ohio. It is also the 89th largest credit union in the nation. It was established in 1954 and as of March of 2014, it had grown to 141 employees and 136,748 members. General Electric Credit Union's money market rates are 2X the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

--Those who live, work, worship, or attend school in the following Ohio counties: Hamilton, Butler, Warren, Montgomery, Clermont, Adams, Brown, Clinton, Fayette, Greene, Highland, Preble, Clark, Darke, Miami, and Shelby --Those who live and work in the following Kentucky counties: Boone, Campbell, and Kenton --Employees and pensioners of General Electric Company in the Greater Cincinnati area --Employees and pensioners of General Electric Company Aircraft Engine Division --Immediate family members of current members. Immediate family includes: spouse, child, sibling, parent, grandparent/grandchild, step parents/children/siblings, and adoptive relationships. Additionally, a person living in the same residence and maintaining a single economic unit with a current member. --Anyone living and sharing household expenses with a current member --Anyone who lives or works in Sharonville, Ohio --Parishioners of St. Michael’s Church, Sharonville United Methodist Church, or Assumption Catholic Parish --Mason City Schools, Kings Local Schools, and Loveland City Schools employees, students, and their family members --Employees of TriHealth, including: Bethesda Oak, Bethesda North, and Good Samaritan hospitals --Employees of Mercy Health Partners, including: Mercy Hospital Anderson, Mercy Hospital Clermont, Mercy Hospital Fairfield, Mercy Hospital Mt. Airy, and Mercy Hospital Western Hills --Employees of more than 325 Cincinnati companies/organizations (our Select Employer Groups) - See Details

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Reviews (2)

Horrible Customer Service If Calling In

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.

Great Interest Rates, Convenient, Great Service

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.



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 General Electric Credit Union had $14.74 million in non-current loans and owned real-estate with $226.51 million in equity and loan loss allowances on hand to cover it. This gives General Electric Credit Union a Texas Ratio of 6.51% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for General Electric Credit Union experienced no significant changes from 6.00% as of March 31, 2013 to 6.51% as of March 31, 2014, resulting in a negative change of 8.49%. This indicates that the balance sheet and financial strength for General Electric Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, General Electric Credit Union has increased its total deposits by $140.84 million, resulting in 9.66% 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.

Capitalization

GRADE:
A

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 $1.94 billion in assets with $226.51 million in equity, resulting in a capitalization level of 11.70%, which is excellent.

Institution Statistics

Overall
NCUA #68574
Year Chartered1954
Employees141
Primary Regulator
Assets and Liabilities
Assets$1.94 billion
Loans$1.80 billion
Deposits$1.60 billion
Equity Capital$217.27 million
Loan Loss Allowance$9.24 million
Unbacked Noncurrent Loans$14.31 million
Real Estate Owned$432,000
Historic Data - March 2013
Assets$1.76 billion
Equity Capital$200.51 million
Loan Loss Allowance$5.70 million
Unbacked Noncurrent Loans$14.31 million
Real Estate Owned$365,000
Profit Margin - Quarterly
Net Interest Margin0.57%
Return on Assets0.3%
Return on Equity2.66%
Interest Income$15.22 million
Rates

Always verify rates and promotions with the bank or credit union. We are not General Electric Credit Union, we are a rate comparison website and can not provide official rates or promotions.

General Electric Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--Share Savings
0.20%--IRA Passbook
0.20%--Christmas Club
0.20%--Vacation Club

General Electric Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
1.00%$50k-Money Market Plus Account

General Electric Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.75%$25k-Premium FREE Checking
0.10%$7,500-HSA Share Draft Checking
0.10%$7,500-Share Draft Checking

General Electric Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
2.50%$500-5-Year Share Certificate
1.50%$100k-1-Year Jumbo Share Certificate
1.40%$2k-3-Year HSA Certificate
1.18%$500-30-Month Share Certificate
1.05%$2k-2-Year HSA Certificate
1.03%$500-2-Year Share Certificate
0.90%$500-18-Month Share Certificate
0.90%$1k-18-Month HSA Certificate
0.80%$500-1-Year Share Certificate
0.80%$500-1-Year HSA Certificate
0.60%$500-182-Day Share Certificate

General Electric Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
2.50%$100k-5-Year Jumbo IRA
1.50%$100k-1-Year Jumbo IRA
1.40%$2k-3-Year IRA
1.05%$2k-2-Year IRA
0.90%$1k-18-Month IRA
0.80%$500-1-Year IRA
Locations

General Electric Credit Union has 13 locations. Click to view all General Electric Credit Union locations.