General Electric Credit Union


Overview / Commentary
513-243-4328
10485 Reading Rd
Cincinnati, OH 45241

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

Great Interest Rates, Convenient, Great Service

Posted by: |

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.

Overall Positive

My experiences have been positive.
Service level varies depending on the experience of CSR.
Always a good idea to ask lots of questions and think about them prior to speaking with CSR.
I had to train one teller on one specific point about CDs.
CD rates are competitive.
Cash Back Credit Card according to website at:
https://www.gecreditunion.org/home/accounts/credit-cards

Absolutely Terrible Customer Service

Posted by: |

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.

Ge Credit Union Oakley Branch

Posted by: |

I was hopeful that because this institution was new and its location that it would be more professional. Unfortunately it fails like the rest of the branches. Lacks customer service, knowledge, and experience. Extremely rude to highly invested customers. Management doesn't seem to know basic protocol. You are made to feel like a burden when requesting basic services. I will not be a customer at this institution after the last few experiences (specifically with the assistant manager) my patience has run out. Brittany is very much missed and the lack of service reflects that.

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Health

Health Grade Components

Overall
NCUA #68574
Year Chartered1954
Employees402
Primary Regulator
Profit Margin
Return on Assets - YTD0.16%
Return on Equity - YTD1.9%
Annual Interest Income$58.8MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$3.67B$3.21B
LoansQ2 2020vs Q2 2019$2.88B$2.59B
DepositsQ2 2020vs Q2 2019$3.05B$2.90B
Equity CapitalQ2 2020vs Q2 2019$295.9MM$287.3MM
Loan Loss AllowanceQ2 2020vs Q2 2019$21.5MM$16.7MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$11.3MM$11.2MM
Real Estate OwnedQ2 2020vs Q2 2019$0$30.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$5-Share Savings
0.10%$5-IRA Share Savings
0.10%$5-Christmas Club
0.10%$5-Vacation Club
0.10%$1k-HSA Checking

General Electric Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$25k*-Thrive Money Market
OTHER TIERS: 0.15% $100 - $5k | 0.30% $5k - $25k
0.60%*$25k*-IRA Money Market
OTHER TIERS: 0.15% $100 - $5k | 0.30% $5k - $25k

General Electric Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%*$50k*-Amplified High-Yield Checking
OTHER TIERS: 0.05% Up to $1.5k | 0.20% $1.5k - $50k
0.10%*$5k*-Choice Checking
OTHER TIERS: 0.05% Up to $5k

General Electric Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.21%$500-11 Month HSA Certificate Special - New Money
1.21%$500-11 Month Share Certificate Special - New Money
1.15%$500-5 Year Share Certificate
1.00%$500-3 Year HSA Certificate
1.00%$100k-2 Year Jumbo Share Certificate
1.00%$500-3 Year Share Certificate
0.95%$500-2 Year Share Certificate
0.95%$500-2 Year HSA Certificate
0.85%$100k-1 Year Jumbo Share Certificate
0.80%$500-1 Year Share Certificate
0.80%$500-1 Year HSA Certificate
0.60%$500-6 Month Share Certificate
0.60%$500-6 Month HSA Certificate

General Electric Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.21%$500-11 Month IRA Special - New Money
1.15%$500-5 Year IRA
1.00%$500-3 Year IRA
1.00%$100k-2 Year Jumbo IRA
0.95%$500-2 Year IRA
0.85%$100k-1 Year Jumbo IRA
0.80%$500-1 Year IRA
0.60%$500-6 Month IRA
Locations

Availability

Cincinnati Area

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