Gas & Electric Credit Union was formed in 1935 to serve the employees of the Peoples Power Company. We exclusively serve employees, retirees, and family members of MidAmerican Energy, the City of Rock Island, BITCO Insurance, Illinois Casualty Company, Rock Island Corps of Engineers and Thomas Hammar, CPA.
We are a not-for-profit, member-owned financial cooperative. Because credit unions are a cooperative– they are owned by their members and instead of paying profits to shareholders– we pay you the profits in the form of higher savings rates, lower loan rates, and lower, if any fees. Much like any other financial institution, all accounts are insured to at least $250,000 by the federal government– in this case the NCUA.
Through the years we have grown substantially, however the philosophy of the Board of Directors and staff has never changed. Our first priority is and always will be service to our members. We offer an array of financial services to meet all of our members’ needs– from kids to seniors.