Overview
What is Gecu?
GECU is a member-owned, non-profit financial services provider based in El Paso, Texas. With over 1,100 employees, this cooperative organization aims to encourage savings among its members and provides them with credit at reasonable rates. GECU offers various loan options, including personal, auto, business, and home loans, and manages a substantial loan portfolio with 199,041 outstanding loans worth over $2.5 billion as of December 31, 2021. The institution also caters to its members' savings needs, with over 661,000 deposit accounts and substantial deposits totaling over $3.2 billion. GECU's mission is to help its members and the community access top-tier financial products and services, paving the way for financial freedom.
Official website here: www.gecu.com
Is Gecu legitimate?
Gecu is a legitimate nonprofit organization registered as a 501(c)(14) entity. Gecu submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Official website here: www.gecu.com
What is the mission statement of Gecu?
GECU is a member-owned financial cooperative dedicated to providing superior financial products and services to its members. Its mission is to help members pave the way towards financial freedom. Established under the Texas Credit Union Act, GECU aims to encourage thrift, offer credit at fair rates, and improve members' economic conditions. The cooperative offers various loan options, including personal, auto, business, and home loans, with a total of 199,041 outstanding loans and an outstanding balance of $2.52 billion as of December 31, 2021. In addition, GECU provides various deposit account options, such as checking, savings, certificates of deposit, individual retirement accounts, and money market accounts, with a total of 661,159 deposit accounts and an outstanding balance of $3.22 billion.
Official website here: www.gecu.com
Who is the CEO of Gecu?
David A Rascon is the Director of Gecu.
Official website here: www.gecu.com
What is the revenue of Gecu?
Gecu's revenue in 2021 was $222,114,762.
Official website here: www.gecu.com
Who are the executives of Gecu and what are their salaries?
Where can I find the form 990 for Gecu?
Gecu's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.gecu.com
Learn more at the official website: www.gecu.com
Mission Statement of Gecu
GECU, a member-owned, cooperative, non-profit financial services provider, is dedicated to enhancing the financial well-being of its members and the community. Established under the Texas Credit Union Act, this financial cooperative encourages savings among its members, offers credit at fair and reasonable rates, and creates opportunities to improve economic conditions. GECU's mission in action translates into providing convenient, superior financial products and services that pave the way for financial freedom.
The credit union's extensive range of offerings includes personal, auto, business, and home loans. As of December 31, 2021, GECU had over 199,000 outstanding loans with a collective balance of $2.52 billion. In addition to loans, GECU offers various deposit account options such as checking, savings, certificates of deposit, individual retirement accounts, and money market accounts. With a total of 661,159 deposit accounts and an outstanding deposit balance of $3.22 billion at the same time, members have ample choices to manage their finances effectively. GECU's commitment to its members' financial growth and stability sets it apart as a trusted financial partner.
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Impact
October, 2024
GECU has a significant impact on its members and the broader community in El Paso, Texas, by providing accessible and affordable financial services. As a member-owned cooperative, GECU focuses on encouraging savings and providing credit at reasonable rates, fostering economic empowerment among its members.
With a portfolio of personal, auto, business, and home loans, the credit union has issued a total of 199,041 loans with an outstanding balance of over $2.5 billion, facilitating essential funding for individuals and businesses. This broad range of financial products not only supports local economic growth but also enhances financial stability for members.
Additionally, GECU offers various deposit account options, including checking and savings accounts, with a total of 661,159 accounts and outstanding deposits exceeding $3.2 billion. This substantial amount of deposits reflects the trust and reliance of the community on GECU for their financial needs.
By prioritizing member satisfaction and economic growth, GECU paves the way for financial freedom, actively contributing to an improved economic condition for individuals and businesses in the area. The credit union's commitment to superior financial services strengthens community ties and promotes a culture of thrift and responsible financial management.
This information is meant to be a general summary of Gecu. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Investment Income: $3,647,833
- Program Service Revenue: $139,483,788
- Gross Receipts: $233,347,855
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$139,483,788
Organization Details
Founding Year
1932
Phone
(915) 778-9221Principal Officer
David A Rascon
Main Address
1225 AIRWAY, EL PASO, TX, 79925
Website
www.gecu.comNTEE Category
Code: W60 - Public benefit
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