- Overall Rating
- Pros and Cons
- Checking
- Savings
- CD
- Money Market Account
- About GECU
- FAQs
- Methodology
- How GECU Compares
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The bottom line: GECU is a strong Hispanic American-led institution in El Paso, and one of the best financial institutions in Texas. You can open an account even if you are an immigrant or non-US citizen, and the credit union has free checking and savings accounts.
Compare GECU bank accountsGECU Savings Account
GECU: Overall Rating
| Feature | Insider rating (out of 5) |
| Checking | 4 |
| Savings | 4 |
| CD | 3.75 |
| Money market account | 3.75 |
| Trustworthiness | 5 |
| Total | 4 |
GECU Pros and Cons
| Pros | Cons |
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GECU Personal Checking Account Review
GECU Personal Checking Account Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Feesno monthly service fee
Annual Percentage Yield (APY)0.00% to 0.10%
Minimum Deposit Amount$20
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. $20 minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Connects to Zelle
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No out-of-network ATM fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection when you sweep money from savings
- con icon Two crossed lines that form an 'X'. Does not refund any fees charged by out-of-network ATM providers
- con icon Two crossed lines that form an 'X'. No interest earned for months that your average daily balance is under $2,500
- con icon Two crossed lines that form an 'X'. No paper checks
- con icon Two crossed lines that form an 'X'. $29.50 overdraft fee
- Credit union that serves a Hispanic American community
- 27 locations in El Paso, Texas, and part of the Co-Op Shared network
- 32,000 free ATMs in the GECU and CO-OP shared networks
- To become a member, you or a family member need to work or live in El Paso County, Dona Ana County, or Hudspeth County
- To earn APY, you need to maintain a $2,500 average daily balance
- Interest compounded monthly
- Federally insured by the NCUA
The GECU Personal Checking Account is a good free checking account with no overdraft or ATM fees. The credit union also has checking accounts for teens, seniors, and people with poor credit who may have trouble qualifying to bank elsewhere.
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GECU Savings Account Review
GECU Savings Account Start saving GECU, Member NCUA Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Feesno monthly service fee
Annual Percentage Yield (APY)0.15%
Minimum Deposit Amount$10
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. $20 minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
- con icon Two crossed lines that form an 'X'. Need $100 in your account daily to earn APY
- con icon Two crossed lines that form an 'X'. Interest compounded quarterly, not daily
- con icon Two crossed lines that form an 'X'. Low APY compared to online banks
- con icon Two crossed lines that form an 'X'. Only 4 free transactions per month, then $3 per transaction
- Credit union that serves a Hispanic American community
- 27 locations in El Paso, Texas, and part of the CO-OP Shared network
- To become a member, you or a family member need to work or live in El Paso County, Dona Ana County, or Hudspeth County
- To earn APY, you need to maintain $100 in your account daily
- Interest compounded and deposited quarterly
- Federally insured by the NCUA
The GECU Savings Account has a low minimum opening deposit and no monthly fees. However, it pays a relatively low interest rate and only compounds interest quarterly rather than daily or monthly. The best high-yield savings accounts pay higher rates, compound more often, and have more flexibility.
GECU CD Review
GECU CD Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY)1.76% to 4.10%
Minimum Deposit Amount$50 to $2,500
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rates
- con icon Two crossed lines that form an 'X'. Minimum deposits range from $1,000 to $2,500 (currently offering a $50 minimum deposit for the 12-month CD)
- con icon Two crossed lines that form an 'X'. Interest does not compound on 3-month and 6-month terms; interest compounds monthly on longer terms, not daily
- con icon Two crossed lines that form an 'X'. Standard-to-high early withdrawal penalties
- $50 minimum opening deposit for 12-month CD
- To become a member, you must meet one the following requirements: 1) live in an eligible county in Texas or New Mexico; 2) are a relative of a current member; 3) are a member of the American Consumer Council or 4) are an employee of Border Line Hospitality LLC or De Los Santos Family LLC
- Credit union that serves a Hispanic American community
- 27 locations in El Paso, Texas, and part of the CO-OP Shared network
- Terms range from 3 months to 5 years
- $2,500 minimum deposit for 3-month and 6-month terms; $1,000 minimum deposit for longer terms
- Early withdrawal penalties: 30 days interest for 3-month and 6-month terms; 90 days interest for 12-month terms; 150 days interest for 18-month and 24-month terms; 240 days interest for 30-month, 36-month, and 48 month terms; 300 days interest for 60-month terms
- Interest compounds quarterly on longer terms; interest does not compound on 3-month or 6-month terms
- Federally insured by the NCUA
GECU pays solid rates on CDs, especially compared to other brick-and-mortar institutions, but it only compounds interest quarterly. The credit union offers a variety of CDs — along with its standard options and variable-rate CDs that allow you to increase the rate once during the term.
GECU Money Market Account Review
GECU Money Market Account Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$10 monthly service fee
Annual Percentage Yield (APY)0.00% to 1.40%
Minimum Deposit Amount$2,500
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive interest rates on higher balances
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive $10 monthly service fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Request a debit card and paper checks
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No out-of-network ATM fees
- con icon Two crossed lines that form an 'X'. $10 monthly service fee
- con icon Two crossed lines that form an 'X'. $2,500 minimum opening deposit
- con icon Two crossed lines that form an 'X'. No interest earned on balances under $2,500, and low balances earn low interest rates
- con icon Two crossed lines that form an 'X'. Interest compounds monthly, not daily
- con icon Two crossed lines that form an 'X'. Does not reimburse any fees charged by out-of-network ATM providers
- Credit union that serves a Hispanic American community
- 27 locations in El Paso, Texas, and part of the CO-OP Shared network
- To become a member, you must meet one the following requirements: 1) live in an eligible county in Texas or New Mexico; 2) are a relative of a current member; 3) are a member of the American Consumer Council or 4) are an employee of Border Line Hospitality LLC or De Los Santos Family LLC
- To earn APY, you need to maintain $2,500 in your account daily
- Maintain an average daily balance of $2,500 to waive $10 monthly service fee
- Interest compounded and deposited monthly
- Federally insured by the NCUA
You may like the GECU Money Market Account if you can maintain a $2,500 balance, because then you'll earn more interest than with the institution's checking or savings accounts. The account also includes paper checks and a debit card, so it may be a better place to store your emergency fund than the regular savings account.
About GECU
GECU, formerly Government Employees Credit Union, is a Hispanic American-led credit union with 27 locations in the El Paso, Texas, area.
It's also part of the CO-OP shared network, so you have access to 5,000 shared branches and over 32,000 free ATMs in the US. You can walk in and receive assistance at a shared branch, but you can't open an account there.
Exact lobby and customer service hours by branch, but all locations are open Monday through Friday and part of the day on Saturday.
The GECU mobile app has 4.9 out of 5 stars in the Apple store and 4.8 out of 5 stars in the Google Play store.
GECU is federally insured by the NCUA, so your deposits are secured for up to $250,000, or up to $500,000 for joint accounts.
How to Join GECU
GECU is a credit union, not a bank, so you have to become a member to open a bank account. Membership is available to anyone who falls into one of the following categories:
- Live in an eligible county in Texas or New Mexico (must contact GECU to learn about eligible counties)
- Are a relative of a current member
- Are a member of the American Consumer Council
- Are an employee of Border Line Hospitality LLC or De Los Santos Family LLC
To become a member, you must open a GECU Savings Account with $10. You do not have to be a US citizen to join — GECU lets you show a permanent resident card, foreign passport, or Matricula Consular as a photo ID, and you'll need to show your ITIN and proof of address.
The Role of Hispanic American-led Institutions
Many Hispanic American-led banks and credit unions provide services in both English and Spanish. Some also let immigrants and noncitizens open accounts — and GECU is one of those institutions. Instead of showing a social security card and driver's license, you can use an ITIN and permanent resident card, foreign passport, or Matricular Consular.
There is a history of racial prejudice in banking and lending, specifically among Hispanic Americans, so working with a Hispanic American-led institution can help eliminate unfair bias.
Many are also involved in their local communities. For example, GECU has created the GECU Foundation, which focuses on issues like education, housing, and access to credit in El Paso.
Is GECU Trustworthy?
GECU does not have any recent public controversies.
The Better Business Bureau gives GECU an A+ rating. A strong BBB grade indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
A good BBB score doesn't guarantee that you'll have a smooth relationship with a business, though. You may want to ask friends and family about their experiences with GECU, or read online customer reviews.
GECU FAQs
What is the minimum deposit for a GECU savings account? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.A minimum of $10 is required to open a GECU share savings account. You must open a share savings account to establish membership at the credit union.
Is GECU secure? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.GECU is federally insured by the NCUA. The NCUA is a government agency that oversees credit unions and insures deposits in bank accounts for up to $250,000 per depositor, per category.
Does GECU have Zelle? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Yes. GECU members have access to Zelle. You may send or receive money through Zelle by using the GECU mobile app.
Can I open a GECU account online? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Yes. GECU savings, checking, money market accounts, and certificates can be opened online.
Methodology: How We Reviewed GECU
For our GECU review, we rated bank products and services using our bank account methodology.
At Personal Finance Insider, we rate bank accounts on a scale from zero to five stars. We review different features for distinct types of bank accounts. For example, we'll look at early withdrawal penalties and CD variety specifically for CDs. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, as well as its overdraft protection options. We'll also usually examine minimum opening deposits, monthly service fees, customer support availability, and mobile app ratings for all types of bank accounts.
How GECU Compares
GECU vs. First National Bank Texas
First National Bank Texas is a regional financial institution that has over 340 branches in Arizona, Arkansas, New Mexico, and Texas. Meanwhile, GECU has 27 locations near El Paso, Texas, and access to 5,000 shared branches in the CO-OP Shared Branch network. At shared branches, you'll be able to make loan payments, initiate withdrawals, or deposit money. You won't be able to open new GECU bank accounts at shared branches, though.
If you'd like to avoid monthly service fees on savings or checking accounts, GECU may be a better choice. At First National Bank Texas, you'll have to maintain certain requirements to waive monthly service fees.
GECU vs. evolve Federal Credit Union
evolve Federal Credit Union is a Hispanic American-led financial institution with four branches in El Paso, Texas. Choosing between GECU and evolve may depend on whether you meet the membership eligibility requirements for a particular institution.
At evolve, you are eligible to join if you live, work, or go to school in El Paso County, Texas. To become a member, you'll need to open a savings account with at least $15. Meanwhile, GECU lets you join if you live in an eligible county in Texas or New Mexico, are a relative of a current member, are a member of the American Consumer Council, or work at a select employee group.
If you're eligible to join both credit unions, you might prefer whichever institution has the nearest branch. evolve Federal Credit Union has seven locations in El Paso, Texas, while GECU has 27 locations.
Laura Grace Tarpley, CEPF Personal Finance Reviews Editor Laura Grace Tarpley (she/her) is a senior editor at Personal Finance Insider. She oversees coverage about mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips for Personal Finance Insider. She was a writer and editor for Business Insider's "The Road to Home" series, which won a Silver award from the National Associate of Real Estate Editors. She is also a Certified Educator in Personal Finance (CEPF).She has written about personal finance for over seven years. Before joining the Business Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at ltarpley@businessinsider.com.Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services » Read more Read less Sophia Acevedo, CEPF Banking Reporter Sophia Acevedo is a banking reporter at Business Insider. Sophia joined Business Insider in July 2021. She writes bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).Sophia is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Southern California.You can reach out to her on Twitter at @sophieacvdo or email sacevedo@businessinsider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>Below are links to some of her most popular stories:- Are banks open today? Here's a list of US bank holidays for 2023
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