Intro – GECU Reviews & Ranking
AdvisoryHQ recently published its list and review of the top credit unions in Texas, a list that included GECU.
Below we have highlighted some of the many reasons GECU was selected as one of the best credit unions in Texas.
Click here for a detailed review of AdvisoryHQ’s selection methodology: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.
GECU is based on core principles of helping communities and members’ dreams come true, whether that’s in terms of starting a business, owning a home or building a strong financial future. GECU was founded more than 80 years ago, in 1932, by a small group of El Paso civil servants.
Each of the founding members contributed only $5, but today, GECU is one of the largest and most thriving locally-owned financial institutions in the city of El Paso. There are over 359,000 members of GECU, along with more than $2 billion in assets and 22 branches.
Photo courtesy of: GECU
Key Factors Leading Us to Rank This Firm as One of This Year’s Top Credit Union Firms
Upon completing our detailed review, GECU was included in AdvisoryHQ’s ranking of this year’s best credit unions based on the following factors.
GECU Review: Second Chance Checking
As well as offering a standard Personal Checking Account with no monthly service fee on select accounts, real-time ATM deposits, and mobile deposits, GECU also uniquely offers a Second Chance Checking account for members who have had past troubles with accounts or who have been denied an account in the past.
The minimum balance to open a Second Chance account is only $15, and after six months, the account is eligible for an upgrade. The account also includes free online banking, mobile banking, and bill pay.
GECU Review: Personal Finance Seminars
As part of its effort to empower members to make the best possible financial decisions for their present situation and the future, GECU offers regular personal finance seminars. These free programs are open to the community and held at convenient locations throughout the area.
For example, one of the recent seminars is named “Financial Education and Homeownership,” and another upcoming workshop is entitled “Get out of Debt.”
As well as these in-person seminars, members can also visit the GECU website to read valuable written guides and blog posts on particular personal finance and lending topics.
GECU Review: Money Management Tools
By visiting the GECU website, members can access a broad range of useful money management tools, whether the goal is to better manage daily expenses or create and adhere to long-term saving goals.
Below are some of the available money management and financial tools available from GECU:
- Loan Calculator: This will show how much a potential borrower can afford, without overextending themselves
- Retirement: The retirement calculator shows members how much they should save on a yearly basis to achieve their goals.
- Savings Calculator: This can be customized to your specific savings goals.
- Budget Worksheet: This is an ideal tool to determine how you can better allocate your money toward your monthly expenses.
GECU Review: Bump-Up
The Bump-Up CD is an opportunity to choose from a savings product and then watch your account grow more quickly. Options include a Bump-Up CD as well as an IRA CD.
Members can choose from a range of terms, from 18 months to 60 months, and they can add money at any time they choose.
This savings option is also unique because it’s possible to “bump up” to a better rate one time during your CD term.
The minimum deposit requirements vary depending on the CD terms you select, and the APY depends on the product selected as well.
In addition to reviewing the above GECU review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top rated banking firms & credit unions:
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
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