1 star ratingAverage User Rating:
1 star rating based on 4 reviews.

GTE Financial

GTE Financial Locations
711 E Henderson Ave
Tampa, FL 33602
813.871.2690
www.gtefinancial.org

NCUA


GTE Financial is headquartered in TAMPA and is the 7th largest credit union in the state of Florida. It is also the 111st largest credit union in the nation. It was established in 1935 and as of December of 2012, it had grown to 421 employees and 192,556 members. GTE Financial's savings rates are 2X the national average, and it has a 3-star health rating.

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$100 Checking Account Bonus at GTE Financial - Easy Membership - 12/3/2012

GTE Financial Credit Union is offering a $100 bonus for opening its free checking account with direct deposit. The offer is scheduled to last until January 31, 2013. Promotion details are listed in th ...



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

GTE Financial Checking Account Rates

ApyMinMaxProduct
6.99%-$500Primary Checking - Member Advantage
0.15%--Business Interest Checking
0.00%--Primary Checking

GTE Financial Savings Account Rates

ApyMinMaxProduct
6.99%-$500Regular Share Savings - Member Advantage
1.26%--Health Savings Account
0.15%$100-IRA Plus
0.15%$100-High Balance IRA
0.15%$100-High Balance SEP IRA
0.15%$100-SEP IRA Plus
0.15%$100-High Balance CESA
0.15%$100-High Balance Roth IRA
0.15%$100-CESA Plus
0.15%$100-Roth IRA Plus
0.10%$100-Regular Share Savings
0.10%$100-Special Share Savings

GTE Financial Money Market Rates

ApyMinMaxProduct
0.15%$100-Money Market
0.15%$100-Money Market Plus
0.15%$100-High Balance Money Market

GTE Financial CD Rates

ApyMinMaxProduct
1.91%$500-60 Month CD - Member Advantage
1.71%$500-48 Month CD - Member Advantage
1.66%$500-60 Month CD
1.51%$500-36 Month CD - Member Advantage
1.46%$500-48 Month CD
1.26%$500-36 Month CD
1.10%$500-30 Month CD - Member Advantage
1.00%$500-24 Month CD - Member Advantage
1.00%$500-30 Month Step up CD - Member Advantage
0.90%$500-18 Month CD - Member Advantage
0.85%$500-30 Month CD
0.75%$500-24 Month CD
0.75%$500-30 Month Step up CD
0.70%$500-12 Month add-on CD - Member Advantage
0.65%$500-18 Month CD
0.45%$500-12 Month add-on CD
0.35%$500-6 Month CD - Member Advantage
0.10%$500-6 Month CD

GTE Financial IRA Rates

ApyMinMaxProduct
1.91%$500-60 Month IRA - Member Advantage
1.91%$500-60 Month CESA - Member Advantage
1.91%$500-60 Month Roth IRA - Member Advantage
1.91%$500-60 Month SEP IRA - Member Advantage
1.71%$500-48 Month IRA - Member Advantage
1.71%$500-48 Month CESA - Member Advantage
1.71%$500-48 Month Roth IRA - Member Advantage
1.71%$500-48 Month SEP IRA - Member Advantage
1.66%$500-60 Month IRA
1.66%$500-60 Month CESA
1.66%$500-60 Month Roth IRA
1.66%$500-60 Month SEP IRA
1.51%$500-36 Month IRA - Member Advantage
1.51%$500-36 Month CESA - Member Advantage
1.51%$500-36 Month Roth IRA - Member Advantage
1.51%$500-36 Month SEP IRA - Member Advantage
1.46%$500-48 Month IRA
1.46%$500-48 Month CESA
1.46%$500-48 Month Roth IRA
1.46%$500-48 Month SEP IRA
1.26%$500-36 Month IRA
1.26%$500-36 Month CESA
1.26%$500-36 Month Roth IRA
1.26%$500-36 Month SEP IRA
1.10%$500-30 Month IRA - Member Advantage
1.10%$500-30 Month CESA - Member Advantage
1.10%$500-30 Month Roth IRA - Member Advantage
1.10%$500-30 Month SEP IRA - Member Advantage
1.00%$500-24 Month IRA - Member Advantage
1.00%$500-30 Month Step up IRA - Member Advantage
1.00%$500-24 Month CESA - Member Advantage
1.00%$500-30 Month Step up CESA - Member Advantage
1.00%$500-24 Month Roth IRA - Member Advantage
1.00%$500-30 Month Step up Roth IRA - Member Advantage
1.00%$500-24 Month SEP IRA - Member Advantage
1.00%$500-30 Month Step up SEP IRA - Member Advantage
0.90%$500-18 Month IRA - Member Advantage
0.90%$500-18 Month CESA - Member Advantage
0.90%$500-18 Month Roth IRA - Member Advantage
0.90%$500-18 Month SEP IRA - Member Advantage
0.85%$500-30 Month IRA
0.85%$500-30 Month CESA
0.85%$500-30 Month Roth IRA
0.85%$500-30 Month SEP IRA
0.75%$500-24 Month IRA
0.75%$500-30 Month Step up IRA
0.75%$500-24 Month CESA
0.75%$500-30 Month Step up CESA
0.75%$500-24 Month Roth IRA
0.75%$500-30 Month Step up Roth IRA
0.75%$500-24 Month SEP IRA
0.75%$500-30 Month Step up SEP IRA
0.70%$500-12 Month add-on IRA - Member Advantage
0.70%$500-12 Month add-on CESA - Member Advantage
0.70%$500-12 Month add-on Roth IRA - Member Advantage
0.70%$500-12 Month add-on SEP IRA - Member Advantage
0.65%$500-18 Month IRA
0.65%$500-18 Month CESA
0.65%$500-18 Month Roth IRA
0.65%$500-18 Month SEP IRA
0.45%$500-12 Month add-on IRA
0.45%$500-12 Month add-on CESA
0.45%$500-12 Month add-on Roth IRA
0.45%$500-12 Month add-on SEP IRA
0.35%$500-6 Month IRA - Member Advantage
0.35%$500-6 Month CESA - Member Advantage
0.35%$500-6 Month Roth IRA - Member Advantage
0.35%$500-6 Month SEP IRA - Member Advantage
0.10%$500-6 Month IRA
0.10%$500-6 Month CESA
0.10%$500-6 Month Roth IRA
0.10%$500-6 Month SEP IRA

Rates updated: 5/21/2013

Data for Q4 2012


Institution Statistics


GTE
NCUA #196
BankRate ReportView
Year Chartered1935
Employees421
Primary Regulator

Assets and Liabilities

Assets$1.54 billion
Loans$1.22 billion
Deposits$1.41 billion
Equity Capital$110.52 million
Loan Loss Allowance$30.11 million
Unbacked Noncurrent Loans$33.98 million
Real Estate Owned$9.71 million

Historic Data - December 2011

Assets$1.45 billion
Equity Capital$102.04 million
Loan Loss Allowance$34.41 million
Unbacked Noncurrent Loans$39.12 million
Real Estate Owned$11.50 million

Profit Margin - Quarterly

Net Interest Margin3.89%
Return on Assets0.54%
Return on Equity7.54%
Interest Income$55.64 million
Non-Interest Income$50.29 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
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, 2012 GTE Financial had $43.69 million in non-current loans and owned real-estate with $140.63 million in equity and loan loss allowances on hand to cover it. This gives GTE Financial a Texas Ratio of 31.07% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for GTE Financial decreased slightly from 37.10% as of December 31, 2011 to 31.07% as of December 31, 2012, resulting in a positive change of 16.27%.This indicates that the balance sheet and financial strength for GTE Financial has improved slightly in recent periods.
Deposit Growth5
In the past year, GTE Financial has increased its total deposits by $77.2 million, resulting in 5.78% 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 GTE Financial 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. GTE Financial has $1.54 billion in assets with $140.63 million in equity, resulting in a capitalization level of 9.14%, which is average.
Write Review

Times Must Be Tough At GTE FCU!
1 stars - Bungalow - Wednesday, August 31, 2011 - 3:02 PM

I have been a long time member of GTE FCU, since 1970, and over the years have had a variety of products with them. I recently went in to open a 5 year CD for the then posted rate of 2.52%APY. I was advised by the representative that in order to qualify for that rate, I would need to open a checking account, have a direct deposit, maintain (my already active) savings account, have either a credit card or loan with them and a couple of other requirements which I don't recall. He stated they are trying to encourage members to have ALL of their banking done through GTE. He then asked if I did the majority of my banking somewhere else & I replied that I did. He then asked what I consider to be a rude and inappropriat question of a bank customer, "Where do you bank now", to which I answered "Somewhere else". The only question I consider more rude is when a bank employee asks "why" a customer is withdrawing money from their own account. I did not open any CD, and am seriously thinking of terminating all banking with GTE. Clearly a 40+ year customer is no longer important to GTE FCU unless the customer will commit to bringing ALL of their banking business to GTE. Seems there was a fable when we were children about not putting all of our eggs in one basket. What's up with that, GTE FCU? 

6

Be Very Carefull Dealing With This Credit Union,
1 stars - urbanweasel - Tuesday, July 26, 2011 - 7:25 AM

They will pull money out of your account even if your on unemployment, They are in bad shape and desperate

4

Could Not Get Anyone To Call Me!!!!
1 stars - mlinkenbach - Sunday, April 29, 2012 - 11:18 PM

This credit union provides the worst service ever (or not). My son applied for a loan - was told it should be ok so we left. Never got a call back. Left three voicemails over a week's time, and no reply. Finally got someone in Loan Department and explained what happened. He apologized and said that even with more money down, my son could not get a loan (which is all we wanted to find out). I asked to speak to the Loan Officer's supervisor about not getting a return call from my three voicemails (along with nearly a dozen calls I made that went to voice mail). He assured me that he would get back to me that day but never did.
What does it take to get someone to keep their word? Or place a return phone call? If this is the way you get treated before becoming a customer, what happens after they've earned your business.

2

False Advertising
1 stars - samipy - Friday, March 16, 2012 - 4:29 PM

Credit Union has offered a free (obligation free) entry to win an electric vehicle.   However, while trying to enter my name and other info into the free, no obligation entry, After much effort, It became very clear that in order to get the entry accepted, one would have  to agree to allow the holders of the contest to contac me and ask any number of "credt questions" and/or  I would have to be willing to apply for credit for either a home or a vehicle before I would be entred into said contest for the free commodity (Electric Vehicle) that was free of any obligation.....

Is this not a rather "sneaky" way of acquirig telephone number and address info as well as your permisision to allow an advertiser to contact you as they circumvent the "do not call" restrictions???. 

  

2