General Electric Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 3.25% | 5-year CD | |
| 2.90% | 1-year CD | 2.60% - Capital One 12 Month 360 CD |
| 0.80% | Money Market |
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) employees and retirees of General Electric Company Aircraft Engine Division or General Electric Company in the Greater Cincinnati area; (5) employees and students of Kings Local Schools, Loveland City Schools, and Mason City Schools and their families; (6) parishioners of All Saints Church, Assumption Catholic Parish, Crestview Presbyterian Church, and select congregations; (7) employees of TriHealth, Mercy Health, and over 300 other Select Employer Groups.
See current membership details
Related Posts
7/14 - General Electric Credit Union Adds 3-Year Bump CD
8/21/14 - General Electric Credit Union 1 Yr CD 1.5%APY
8/21/14 - General Electric Credit Union 5 Yr CD 2.50%APY
4/5/12 - Rates Down But Still Competitive at General Electric CU in Ohio
9/9/11 - Top 1-Year CD Rate at General Electric Credit Union in Ohio - Local Only
1/9/11 - Top CD and Money Market Rates at General Electric Credit Union in Ohio - Local Only
3/19/06 - 5.54% 12-Month CD at an Ohio CU ($100K min)
12/6/05 - 5.38% 48-Month CD at a Ohio CU
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.
Lacks Customer Service After Hours
Overall, this credit union has been great for my family. However, there was a mix up a few years back on out of state spending. My family and I had gone to Tennessee for vacation, prior to leaving, as requested, we told the bank we would be using the bank card out of state from a certain date to a certain date and to take the hold off the card for spending money and out of state requirements. We got to our hotel and everything went just fine for the entire weekend until the final day, a Sunday. On Sunday we went to check out of the hotel and our card was declined. I checked our account and we had plenty of money to cover the bill and even more for spending the rest of the day. I called the number on the back of the card AND THEY ARE CLOSED ON SUNDAYS. So, here we were 5 1/2 hours from home, barely any gas and a card that wouldn't work because the hold on funds and out of state had not properly been done per our request and form filled out. We were able to use a credit card to get what we needed to get done, but this bank should have after hours customer care and should be very careful to complete customer requests in order to not leave them stranded high and dry.
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.
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 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68574 |
| Year Chartered | 1954 |
| Employees | 309 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.62% |
| Return on Equity - YTD | 6.5% |
| Annual Interest Income | $46.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $2.91B$2.85B |
| Loans | Q2 2018vs Q2 2017 | $2.64B$2.62B |
| Deposits | Q2 2018vs Q2 2017 | $2.58B$2.51B |
| Equity Capital | Q2 2018vs Q2 2017 | $274.6MM$259.7MM |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $18.0MM$16.6MM |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $11.1MM$15.2MM |
| Real Estate Owned | Q2 2018vs Q2 2017 | $102.00K$42.00K |
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% | $5 | - | Share Savings | |
| 0.10% | $5 | - | IRA Passbook | |
| 0.10% | $5 | - | Christmas Club | |
| 0.10% | $5 | - | Vacation Club | |
| 0.10% | $1k | - | HSA Share Draft Checking |
General Electric Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.57%* | $1m* | - | Amplified Money Market Checking | ||
| OTHER TIERS: 0.20% → $5k - $50k | 0.80% → $50k - $250k | 2.31% → $250k - $1m | |||||
| 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%* | $7.5k* | - | Share Draft Checking | ||
| OTHER TIERS: 0.03% → $1k - $7.5k | |||||
General Electric Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.33% | $500 | - | 33 Month HSA Certificate Special | |
| 3.33% | $500 | - | 33 Month Share Certificate Special | |
| 3.25% | $500 | - | 5 Year Share Certificate | |
| 3.00% | $100k | - | 2 Year Jumbo Certificate Special | |
| 2.90% | $100k | - | 1 Year Jumbo Share Certificate | |
| 2.75% | $2k | - | 3 Year HSA Certificate | |
| 2.75% | $500 | - | 3 Year Share Certificate | |
| 2.75% | $500 | - | 9 Month Share Certificate Special | |
| 2.75% | $500 | - | 9 Month HSA Certificate Special | |
| 2.65% | $500 | - | 2 Year Share Certificate | |
| 2.65% | $2k | - | 2 Year HSA Certificate | |
| 2.15% | $500 | - | 1 Year Share Certificate | |
| 2.15% | $500 | - | 1 Year HSA Certificate |
General Electric Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.33% | $500 | - | 33 Month IRA Special | |
| 3.25% | $500 | - | 5 Year IRA | |
| 3.00% | $100k | - | 2 Year Jumbo IRA Special | |
| 2.90% | $100k | - | 1 Year Jumbo IRA | |
| 2.75% | $500 | - | 3 Year IRA | |
| 2.75% | $500 | - | 9 Month IRA Special | |
| 2.65% | $500 | - | 2 Year IRA | |
| 2.15% | $500 | - | 1 Year IRA |
