General Electric Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 2.50% | 5-year CD | 5-Year Share Certificate 2.25% - Bank of Internet USA 60 Month CD |
| 1.55% | 1-year CD | 1-Year Jumbo Share Certificate |
| 0.80% | Money Market | Money Market Plus Account 0.90% - Ally Bank Money Market Account |
To benefit the employees of General Electric Aircraft Engines, General Electric Credit Union (GECU) was chartered in 1954. In the 1980s, GECU expanded its field of membership to include several Select Employer Groups (SEGs). Today, the credit union serves over 160,000 members – primarily in Ohio, Kentucky, and Indiana. At the time of this writing, funds deposited with GECU are insured by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF).
GECU members have convenient and secure access to funds through online and mobile banking options. Electronic statements, ATM access, and bill pay options are also available.
General Electric Credit Union offers its members a suite of financial products and services, including the following personal depository banking products: savings accounts, Health Savings Accounts (HSAs), money market accounts, checking accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). Although basic savings account is required for membership, holiday and vacation “club” accounts are available as well. The credit union’s money market account offers higher, tiered interest rates – depending upon the account balance. GECU offers Traditional, Roth, and Educational IRA products, and its share certificates (CDs) range in terms from 182 days to 5 years, with IRAs and HSAs available as certificates.
As for business deposit account products, General Electric Credit Union provides a business savings account (required for membership), two business checking account options, a business money market account, and business share certificates (CDs).
Field of Membership Restrictions
Membership in General Electric Credit Union is open to the following: (1) those who live, work, attend school or worship in Adams, Brown, Butler, Clark, Clermont, Clinton, Darke, Fayette, Greene, Hamilton, Highland, Miami, Montgomery, Preble, Shelby, and Warren Counties in Ohio; (2) those who live, work, attend school or worship in Boone, Campbell, Grant, Kenton, and Pendleton Counties in Kentucky; (3) those who live, work, attend school or worship in Dearborn, Franklin, Ohio, Switzerland, and Union Counties in Indiana; (4) those who work or live in Sharonville, Ohio; (5) employees and retirees of General Electric Company Aircraft Engine Division or General Electric Company in the Greater Cincinnati area; (6) employees and students of Kings Local Schools, Loveland City Schools, and Mason City Schools and their families; (7) parishioners of All Saints Church, Assumption Catholic Parish, Crestview Presbyterian Church, and select congregations; (8) employees of TriHealth, Mercy Health, and over 300 other Select Employer Groups.
See current membership details
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GE Credit union
GE Credit union is a great local bank for anyone that is living in Cincinnati. The interest rates that you receive for your accounts is significantly greater than that of the major banks. The interest rate for my savings account was about five times higher than that of Bank of America. The branch location that we use is very close to where I live. I have never been to this bank when there has been a long line. I don't know if I am just lucky or if they work so fast that there is never a line. It is also very easy to open new accounts and receive new cards if you ever lose one. They have a very friendly staff and they are very prompt in answering any question that you might have. I would highly recommend GE credit union to anyone that is living in the Cincinnati area and does not want to open an account at one of the larger banks in the country.
Great service
GE Credit Union does a fantastic job of serving its clients. The products available in terms of checking and savings are much like other banks, with similar rates. You may be able to find a better rate at another bank. The service here, however, really sets them apart. They'll always go the extra mile to make sure you're satisfied, including removing fees if necessary(they completely got rid of all fees associated with savings and checking for me) and integrating their other products into a package for you. They're always friendly and its clear that they really want your business; that you are a valued customer is apparent at all times. All in all- a great credit union that really looks out for you, and highly recommended for the great level of service provided.
Customer Service Is Great! Fewer Nickel And Dime Fees Needed.
I've been a customer of GE Credit Union for several years and have been really impressed. They're very customer-centric. Their products are really good and their rates are usually the best in the area. We refinanced our mortgage with them and they took care of everything making it completely painless for us. GECU's fees can be a nuisance. They charge 50 cents for each 5/3 ATM transaction (but no surcharge). Many small banks and credit unions would just suck that fee up as a service. They also offer PopMoney but with fees that are also a nuisance vs. free with many banks. The fees really don't add up to much though and their service has really been very helpful to us.
Absolutely Terrible Customer Service
I don't normally write business reviews but with the experiences I've had with General Electric Credit Union's customer service, I felt compelled.
First , I should say that they have provided me with the lowest car loan payment rates the last two times I purchased a car . Unfortunately, that is the only positive thing I can say for them .
I have had multiple issues with logging into my online bill pay . This forced me to have to call them directly. Each time I have to call them I dread it ! I have learned that It is best to wait for a time to call when I have absolutely nothing else to do that day, since I am on hold a minimum of 10 minutes. One time I hung up at the 20 minute marker . Once they do answer, I usually end up with some very unfriendly representatives , which is exactly what you want to deal with after being on hold that long . I believe I had one that was polite once ( out of at least 8 I spoke with ).
All in all the rates are good but they need to work really hard on improving their customer service . It's bad enough that this will be the last time we use them.
Data as of Q2 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68574 |
| Year Chartered | 1954 |
| Employees | 220 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.39% |
| Return on Equity - YTD | 4.26% |
| Annual Interest Income | $39.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $2.85B$2.43B |
| Loans | Q2 2017vs Q2 2016 | $2.62B$2.24B |
| Deposits | Q2 2017vs Q2 2016 | $2.51B$2.16B |
| Equity Capital | Q2 2017vs Q2 2016 | $259.7MM$252.1MM |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $16.6MM$12.0MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $15.2MM$13.2MM |
| Real Estate Owned | Q2 2017vs Q2 2016 | $42.00K$93.00K |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
1.50% 5 Month Certificate Special In Ohio
1.50% APY, 150 days, $100,000 min
1.25% APY, 125 days, $500 min
http://www.gecreditunion.org/home/hidden/cp_certificate-special
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 cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
General Electric Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.10% | - | - | Share Savings | |
| 0.10% | - | - | IRA Passbook | |
| 0.10% | - | - | Christmas Club | |
| 0.10% | - | - | Vacation Club |
General Electric Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.80%* | $50k* | - | Money Market Plus Account | ||
| OTHER TIERS: 0.20% → $10k - $50k | |||||
General Electric Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.65%* | $25k* | - | Premium FREE Checking | ||
| OTHER TIERS: 0.15% → $10k - $25k | |||||
| 0.10%* | $7,500* | - | HSA Share Draft Checking | ||
| OTHER TIERS: 0.03% → $1k - $7,500 | |||||
| 0.10%* | $7,500* | - | Share Draft Checking | ||
| OTHER TIERS: 0.03% → $1k - $7,500 | |||||
General Electric Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.50% | $500 | - | 5-Year Share Certificate | |
| 1.70% | $2k | - | 3-Year HSA Certificate | |
| 1.60% | $500 | - | 30-Month Share Certificate | |
| 1.55% | $100k | - | 1-Year Jumbo Share Certificate | |
| 1.50% | $500 | - | 2-Year Share Certificate | |
| 1.50% | $2k | - | 2-Year HSA Certificate | |
| 1.50% | $100k | - | 150 Day Share Certificate Special | |
| 1.40% | $500 | - | 18-Month Share Certificate | |
| 1.40% | $1k | - | 18-Month HSA Certificate | |
| 1.25% | $500 | - | 125 Day Share Certificate Special | |
| 1.20% | $500 | - | 1-Year Share Certificate | |
| 1.20% | $500 | - | 1-Year HSA Certificate | |
| 0.85% | $500 | - | 182-Day Share Certificate |
General Electric Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.50% | $500 | - | 5 Year IRA | |
| 1.70% | $500 | - | 3-Year IRA | |
| 1.55% | $100k | - | 1-Year Jumbo IRA | |
| 1.50% | $500 | - | 2-Year IRA | |
| 1.40% | $500 | - | 18-Month IRA | |
| 1.20% | $500 | - | 1-Year IRA |
