BRIGHT HORIZONS
holiday-ready mindset
Whether you’re planning to: complete a renovation project just in time for guests to arrive, travel to see family or for leisure, or start your gift shopping early, we have financing tools and solutions that take the stress out of holiday plans!
For budgeters…
Build a budget and track spending with Money Management, available within Online Banking or our mobile app.
The tool analyzes your finances and spending habits to provide tailored insights that help you budget for the holidays. You can even connect accounts outside of GECU for the most holistic financial picture.
For home project planners...
For savvy shoppers…
Add your GECU credit or debit card to the digital wallet of your choice for faster, more secure checkout in-person, online, or in-app.2
This essentially eliminates the need for a physical wallet. Discover more at: gecreditunion.org/digital-wallets
Finance projects like a kitchen upgrade, bathroom remodel, or new flooring to get your house holiday-ready for guests by leveraging your home’s equity.
Learn more on page 3 or visit: gecreditunion.org/heloc-intro
0% Intro APR4 for 12 months on purchases and balance transfers made in the first 60 days. Then, 15.99% - 18.00% APR, based on your creditworthiness.
For travelers...
Whether you’re booking a hotel room for a visit home or taking a much-needed vacation, earn points with a GECU Visa Signature® credit card.
No foreign transaction fees and travel protection benefits make the Signature card ideal for travelers. Plus, cardholders earn 2x the points3 on all purchases, including gifts for the holidays.
Scan the QR code to learn more or visit: gecreditunion.org/signature
interest charges, balance transfers, cash advances, or purchases of other cash equivalents. Additional terms and restrictions apply. This rewards program is offered at the discretion of GECU and may be changed from time to time with or without notification. For full terms and details of the rewards program, visit: gecreditunion.org/signature. 4Introductory APR for Purchases and Balance Transfers: Offer valid for qualified borrowers only. Upon approved credit. Offer subject to change at any time. Purchases and balance transfers made in the first 60 days will have 0.00% introductory APR for 12
There is a $10 or 3% of the amount (whichever is greater) fee to transfer balances from other credit cards to a GECU credit card. Existing GECU credit card/loan balances are not eligible for the introductory rate. After the introductory period, the APR will be 15.99% - 18.00% based on your creditworthiness. The APR may vary on a quarterly basis and is determined by adding our margin to the Prime Rate as published in The Wall Street Journal effective for the first day of January, April, July, and October of every year.
A message from our President and CEO
Marking the celebration of our 70th anniversary, 2024 has been an extraordinarily important year for General Electric Credit Union. This milestone signifies not only our longevity as your premier banking partner, but also our unwavering commitment to Improving the Quality of Financial Lives. On behalf of the entire organization, I want to thank you for helping us celebrate this year, and for your trust, support, and loyalty as a GECU member. It is an honor to serve you.
Looking at 2024 through the larger economic lens, growth has been relatively slow throughout the year. While U.S. consumer spending and gross domestic product (GDP) growth has cooled somewhat in the latter half of the year, it’s anticipated that both factors will increase heading into 2025. And with inflation forecasted to get back to target levels, next year should allow for greater consumer purchasing power and a more stable – and predictable –economic environment. As we have always done, our teams will continue monitoring market conditions, so we are well-equipped and positioned to adapt, evolve, and look ahead toward a bright future.
Key to our success is ensuring you have the best banking experiences possible. That means not only providing
award-winning service with each of your interactions, but also finding ways to elevate the products and services you use. One example of this is our deposit account opening enhancement which significantly reduces the amount of time it takes to open a GECU account online, and streamlines access for those who are not yet users of Online Banking or our mobile app. We also recently enabled our debit cards with contactless chip technology. Similar to the enhancement we made to credit cards last year, members with new and reissued debit cards will be able to make secure payments by “tapping” to pay at contactless-enabled terminals –including our very own Interactive Teller Machines (ITMs).
Very excitedly, we will soon be growing our presence in the Tri-state with a long-awaited, full-service location on the West Side of Cincinnati. Those who live in, or have recently passed through, the Dent area have likely seen our new branch take shape. As we finalize construction and as our teams prepare to welcome members in, be on the lookout for information about how we will be celebrating our newest branch, soon.
Timothy D. Ballinger
We also continued to deepen our ties with our local communities throughout the year. As part of our 70th anniversary celebration, our team members committed to 170 Hours of Giving in June (our official anniversary month). I am pleased to share our team went above and beyond by generously donating more than 300 hours of their time. Additionally, in July, we partnered with the Beech Acres Parenting Center for the Equip-a-Kid backpack drive. This year, our team members collected more than 149 backpacks for this initiative, which helps students throughout the Greater Cincinnati area. These are just a few of the ways your Credit Union and our team make a positive impact, and I am truly proud of how we have helped the communities we call home.
From product and service enhancements to community giveback efforts, and much more, there has been no shortage of things to celebrate this year. As we close out another chapter and usher in our 71st year of operation, I hope you enjoy a wonderful holiday season with friends and family.
Holiday Closures
Columbus Day
Monday, October 14th
Veterans Day
Monday, November 11th
Thanksgiving Day
Thursday, November 28th
Christmas Eve
Tuesday, December 24th | Closing at 12pm
Christmas Day
Wednesday, December 25th
New Year ’s Day Wednesday, January 1st
Photo credits (Top): Michelle Peters, Photo credits (Bottom): Teagan Dumont
Prepare your home for the holidays
Whether you want to wow your guests with a newly remodeled kitchen, or just need some extra space to store decorations, a Home Equity Line of Credit is the perfect option. Finance your next home project—just in time for the holidays—and make interest-only payments during the 10-year draw period.
5.99
8.25
Learn more by scanning the QR code or visiting: gecreditunion.org/heloc-intro
APR = Annual Percentage Rate. 1Home Equity Lines of Credit: APR introductory rate as low as 5.99% for 6-months after date of agreement and only available on new loans. Rate may be increased after consummation. After the introductory period, the APR is variable and subject to change every three months based on Wall Street Journal (WSJ) Prime Rate. For lines of Credit of $50,000.00 or higher, the rate will adjust to WSJ Prime – 0.25%. For Lines of Credit up to $49,999.00 the rate will adjust to WSJ Prime – 0%. During adjustment periods, the rate cannot adjust by more than 3.00% from previous rate with a floor APR of 3.00% and a maximum APR of 12.99%. The APR assumes combined loan-to-value (CLTV) ratio of 90% or less, single family, primary residence, and first lien with GECU. The term is 20 years; a 10-year draw period with interest only payments followed by a 10-year repayment period with principal plus interest, which may increase monthly payments. Consult a tax advisor for deductibility of interest. No application fee, closing costs, or pre-payment penalty. Property insurance required. Rates effective 1.22.24 and accurate as of 9.4.24. Subject to credit approval. Additional terms, fees, and conditions may apply. Introductory offer, rates, and terms subject to change at any time without notice. For questions, concerns, current rates, or details, contact us at: 800.542.7093 or visit: gecreditunion.org.
Keep your checking account balance in the green
There are many ways to ensure your checking account balance stays out of the red this holiday season— and rebound if you slip up!
Activate Quick Balance to quickly view your account balance without having to log in!1 Activate the feature in your GECU mobile app settings. In the future, you’ll just have to swipe down on our app home screen to access your information. No need to log in! Visit: gecreditunion.org/quick-balance to learn more, including how to set up a widget on Apple® and Android™ devices.
Embrace Debit Card Controls so you can curtail your own spending and stop fraud in its tracks. Set spending limits, customize how and where you can use your card, turn your card On/Off, and get real-time alerts. To see more options, go to: gecreditunion.org/card-controls.
Enroll in FREE Overdraft Protection Transfers.2 We’ll automatically transfer funds from a GECU savings or money market account to cover overdrafts in your checking account for free.
Make the most of your checking perks
Your GECU checking account comes with features that help you avoid an overdraft and control how your debit card is used, but the perks don’t end there! Scan the QR code or visit: gecreditunion.org/better-checking
We’re filling three Board of Director positions. Candidates:
Must be an active member in good standing for at least three years
Must be at least 25 years of age
Completed applications must be postmarked or returned to a GECU location by 5 pm on Friday, October 25th.
Get more information and apply: Make an impact and volunteer
Now is the time to plan for tax season
Take steps now to prepare for tax season and get the most out of your tax-advantaged accounts.
Review accounts
Contributing to an Individual Retirement Account (IRA) or a Flexible Spending Account (FSA) may reduce your taxes. Be sure to consider all the requirements of these tax-advantaged savings vehicles which may apply to you, including:
IRA contributions can be made until April 15, 2025. But, keep in mind that your total yearly contributions across all IRA accounts can't exceed $7,000 (or $8,000 if you’re 50 or older).
FSA funds can be used to pay for eligible medical expenses regardless of age, but they may not roll over year-to-year. Scheduling your appointments within the calendar year will allow you to get the most value out of the account.
Evaluate your portfolio
Your investment portfolio may present opportunities to reduce your taxes. By selling off underperforming assets in your portfolio, you can realize losses that offset your taxable gains, reducing your overall tax bill.
Consult with an Investment Services Financial Advisor, available through CUSO Financial Services, L.P. (CFS),1 and receive personalized guidance on tax-advantaged accounts and your portfolio. Visit: gecreditunion.org/investment-services
Virtual appointments
Enjoy a 1:1 service experience from the comfort of home or wherever you are! Schedule an appointment with our new, locally based Virtual Branch team to open an account or complete a credit card or loan application—all from your computer or favorite device. It’s just one more way you can choose to bank with us!
Visit: gecreditunion.org/appointment to schedule a time to speak with a GECU team member.
Scan the QR code or visit: gecreditunion.org/financials View our latest
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