GECU is a Texas-based credit union that offers personal and business banking products and services, along with access to various individual investment products. The credit union’s acronym, GECU, stands for Government Employees Credit Union, which embodies the original purpose of the financial institution. Since its inception, GECU has broadly expanded its membership eligibility to include consumers who live in close proximity to a branch.
GECU’s personal banking products include checking, savings, Money Market, CD, and IRA CD accounts. Its checking account options have no monthly service or activity fees and require a relatively low average daily balance minimum in order to earn interest. A basic savings account is offered and includes a free GECU ATM card, free ATM access, and no monthly service fee. Several other savings accounts designed for youth of different ages and seniors are available, as well, and pay dividends. Several CD options are available to meet consumers’ savings goals at different stages of life. One CD account is designed for seniors and adds basis points on top of the interest rate for any CD. There is also a CD with a small minimum balance requirement that makes it easy to get a ladder started with limited funds. Similar accounts are available on the business banking side, and a business resource center is offered to provide information on relevant small business needs.
GECU online banking offers customers access to their accounts via the credit union’s web-based platform. Account management activities can be performed, including Bill Pay, money transfers, direct deposit, and financial management software integration. Mobile banking services are also available and provide access to the mobile-optimized website as well as mobile banking apps that make banking via smartphone and tablet devices simple and convenient. GECU’s website also provides a number of financial calculators and worksheets to help with budgeting and mortgage processes.
GECU was originally organized and chartered in 1932 when a group of civil servants pooled their money together to provide banking services to members of the El Paso community. Since then, the credit union has grown to serve hundreds of thousands of members and is currently headquartered in El Paso, Texas. It serves its members through multiple branches located in the El Paso area.
Field of Membership Restrictions
Membership in GECU is open to anyone through the American Consumer Council. GECU will enroll you at no additional cost.
See current membership details
Membership Denied
Prior to applying for membership I contacted GECU to see what they need because I have my credit reports and Chex report frozen. The response was Equifax and Chex Systems. Applied Chex systems was pulled but Equifax was not pulled. I was denied could not verify my identity. They also asked what previous employer was. No one has ever asked that. The reason for application they have good certificate rates. Customer service was average. I have used the same ID with other banks and credit unions with out a problem. I am going elsewhere
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24941 |
| Year Chartered | 1932 |
| Employees | 907 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.14% |
| Return on Equity - YTD | 9.29% |
| Annual Interest Income | $253.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $4.34B$4.42B |
| Loans | Q4 2024vs Q4 2023 | $3.39B$3.28B |
| Deposits | Q4 2024vs Q4 2023 | $3.29B$3.29B |
| Equity Capital | Q4 2024vs Q4 2023 | $533.6MM$484MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $52.5MM$49.2MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $38.1MM$26.2MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |
