Become a Member
There are many benefits to being a member at GECU. Besides the low loan rates, higher savings rates, and low fees, we think our awards, rankings and track history speaks volumes:
- For the 3rd year in a row, we have received the Benefits of Membership Award from CUNA! The Benefits of Membership Award honors credit unions that provide the highest financial benefit to members in the form of lower loan rates, higher deposit yields, and lower and fewer fees compared to banks. CUNA estimates that GECU saved members on average $487 in 2020.
- As of June 30, 2021, we are ranked 7th out of 723 credit unions in our peer group, the top 1%, in Callahan’s Return to Member Index. This measures how well we return value to members in three categories – return to savers, return to borrowers, and member product usage. For all credit unions in the US, we are ranked 84th out of more than 5000. We have consistently ranked in the top 1% for many years.
- For 5 out of the past 8 years, we have paid a bonus dividend back to our members at the end of the year, reaching over $1,200,000- including a $250,000 bonus paid in December 2021!
Gas & Electric Credit Union (GECU) was formed in 1935. 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, credit union accounts are insured. GECU accounts are insured to at least $250,000 by the federal government through 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.
Ready to join us? We would love to have you! 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
- Thomas Hammar, CPA,
- Stecker Graphics
- Friendship Manor
- Rock Island-Milan School District
- JTM Concepts
- Downtown Rock Island District Businesses
- Iowa American Water