Members Get Rebates !!!

Just Announced! 8% Interest Rate Rebate and Dividend Bonus for 2004!

Why We Pay Rebates and Dividends...

Many people are unfamiliar with the differences between banks and credit unions.  Although credit unions are often called banks and offer similar products and services, the truth is banks and credit unions are two completely different types of financial institutions.

GEFCU is a non-profit financial cooperative owned by members and created for the purpose of encouraging thrift among its members while creating a source of credit at fair and reasonable rates of interest.

Banks on the other hand serve the people who hold the bank’s stock.

As a credit union since 1931, GEFCU translates excess income into lower loan rates, higher savings dividends, and low-cost products and services.  GEFCU’s directors are unpaid local volunteers.

Banks translate their excess income into stock options, shareholder returns, and high CEO and Director salaries.

In recent years, GEFCU’s members have received year-end Dividend Bonuses and Interest Rebates.  This is the result of the 1997 decision by GEFCU’s Board of Directors that a 10% capital to asset ratio is sufficient and any excess should be returned to the members in the form of bonuses and rebates.  On December 31, 2004, the eighth year of bonuses and rebates, GEFCU returned an 8% Dividend Bonus and an 8% Interest Rebate to its members.   Bonuses are based on the amount of dividends earned by a member and Rebates are based on any interest paid on loans (excluding MasterCard) during the year.  Therefore, the more a member uses GEFCU services the more money that member gets back at the end of the year.

Have you ever heard of a bank returning excess earning to its customers?  That’s why GEFCU is different.

GEFCU wants to be your Primary Financial Institution, so when you’re in the market for financial products and services turn to GEFCU first.