GTE Financial is a member-owned federal credit union chartered in the midst of the Great Depression that offers a variety of depository banking and lending products. It is an active participant in serving organizations located in the community it serves and also helps businesses with growth and start-up financing.
On its personal banking side, GTE Financial offers savings, checking, money market, share certificate, IRA, and credit card accounts to meet the needs of it membership. Its checking account options include a basic, free account that is eligible for a member advantage program, and a youth account that comes with reduced insufficient fund charges and once-a-month forgiveness for overdraft fees. Both checking accounts come with unlimited check writing, referral incentives, and free debit cards. A basic savings account as well as a money market account are available and offer interest at varying levels based on account balances. Share certificates and IRA certificates range in term lengths from 6 to 60 months. GTE’s rewards program offers cash back incentives for using its Visa credit card or MasterCard debit card.
GTE Financial online banking provides a web-based platform for members to manage their accounts, pay bills, transfer funds and make loan payments. The credit union is part of the CO-OP ATM network and allows free money withdrawal from an ATM that is part of the network. GTE also provides financial education and resources to help guide members through decisions related to purchasing a mortgage and opening up various deposit accounts.
GTE Financial was originally chartered in 1935 and is headquartered in Tampa, Florida. The credit union serves hundreds of thousands of members through a number of branches spread across the state of Florida.
Membership in GTE Financial is open to anyone through joining CUSavers ($10 one-time membership fee). Membership is also open to those who live, work, attend school or worship in select areas of Zip Codes 33602, 33603, 33604, 33605, 33606, 33607, 33609, 33610, and 33619 in the Tampa area.
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Highly competitive CD rates and great customer service.
Just renewed my CDs for another 4 and 5 years.
New feature at GTE allows you to add beneficiaries online. There is an ‘Everything Else’ button towards the right, just before the log off button. Under ‘Resources’, choose ‘Forms’ and you will see the Beneficiary form as the first option. Complete and submit. SSN and DOB of beneficiaries required.
I give them four stars for this enhancement.
My wife and I established a $100k 5% CD with GTE on 6/7/2023! Pretty good rate at the time! In order to fund the CD we had to establish GTE share accounts to wire the money, according to their Customer Service Rep! Anyway here is a summary of things to watch out for from GTE!
1) GTE does a hard credit pull to open up share accounts, etc.
2) GTE charges various nickle and dime fees, one is a so called inactivity fee if no activity within 6 months! Doesn't matter is you have any CD's with them!
3) GTE's customer service in opening an account is decent! However, once the account is opened, it's hard to get any response or contact anyone! The reply I got when requesting the $10 inactivity fee to be reversed was, "The inactivity fee was "avoidable" by depositing, withdrawing, etc. from the share account! Yes! It might have been avoidable if you provided advanced warning! So now we're going to have to make a "nuisance" transaction every 6 months to avoid a nickle and dime fee while GTE has 100K of our funds available to make loans with? The rate way above any interest they will be paying us! However, doing a one time reversal of a $10 fee in the name of customer service goodwill is somehow to be avoided?
In summary, once our CD matures, we are gone from GTE for good, no matter what rates they have for CD's!
I should have looked at BBB where GTE is listed as non-affiliated with the BBB with a D- to F ratings!
Caveat Emptor! LOL
Could you please answer your phones? Could you please respond to email? Please? Pretty please?
Is anyone there?
Two hours later I received 2 e-mails. Thank you and DA!
Overall | |
---|---|
NCUA # | 196 |
Year Chartered | 1935 |
Employees | 527 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.88% |
Return on Equity - YTD | 10.81% |
Annual Interest Income | $131.4MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2023vs Q4 2022 | $2.97B$2.89B |
Loans | Q4 2023vs Q4 2022 | $2.44B$2.33B |
Deposits | Q4 2023vs Q4 2022 | $2.49B$2.47B |
Equity Capital | Q4 2023vs Q4 2022 | $239.1MM$230.4MM |
Loan Loss Allowance | Q4 2023vs Q4 2022 | $30.5MM$16.3MM |
Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $21.6MM$15.7MM |
Real Estate Owned | Q4 2023vs Q4 2022 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.