Bump Certificate

Bump Certificates provide a guaranteed return and are just what you need to be well-positioned in this rising rate environment.

No minimum deposit
Bump up your rate 1x per year
Perfect for the rising rate environment

Term	Minimum Balance	Rate	APY
3-Year Bump Certificate	$0.01	3.35%	3.40%
3-Year IRA/HSA Bump Certificate	$0.01	3.36%	3.40%
5-Year Bump Certificate	$0.01	3.20%	3.25%
5-Year IRA Bump Certificate	$0.01	3.21%	3.25%

General Electric Credit Union is federally insured by the National Credit Union Association (NCUA). Because of this, the NCUA insures your funds with the Credit Union up to $250,000 per accountholder and per ownership category. Not sure if your accounts fall under this umbrella? Use the NCUA share insurance estimator to determine if you're covered – or if there's a gap that needs to be addressed.

If any of your funds fall outside of NCUA insurance, contact a GECU team member to discuss strategies to expand your coverage.

1

Schedule an appointment

Schedule an appointment in advance to ensure a team member is ready to assist you.

Schedule an appointment

2

Open an account online

It only takes a few minutes to open an account.

Get started online

3

Give us a call

Ready to bump?

At the written or verbal request of any Certificate owner, the dividend rate may be changed to the current rate offered on new Certificates without incurring a penalty, one time per year. Note: A signature will be required to process a bump rate increase request.

To initiate a bump request:

Contact us by phone at: 513.243.4328 or 800.542.7093, send us an email at: [email protected], or chat with a member of our team online, through Online Banking, or our mobile app.
Visit any GECU location and speak with a team member.

What are the requirements to open a certificate?

If you live or work in the Tri-State, you are eligible for membership at GECU. You can establish your membership and open a certificate online or at any GECU location. Our certificates typically have a minimum $500 deposit, though we may at times offer specials with different minimums. We also offer jumbo certificates with $100,000 minimum.

How are dividends calculated and paid?

We use the daily balance method to calculate the dividends; dividends will be calculated daily and credited to the account monthly.

When can I bump up my rate?

The certificate owner has the option to initiate a rate adjustment one (1) time per year, during the term of the certificate at the prevailing GECU rate on that product. For example, if you request a bump on your 3-year Bump Certificate, you will receive the prevailing 3-year Bump Certificate rate and annual percentage yield (APY). At the end of three (3) years, it will automatically mature into a standard 3-year Certificate at the then prevailing dividend rate and APY, unless you choose otherwise.

How do I initiate a bump request?

During the term of your certificate, the certificate owner can initiate a rate adjustment by contacting us or visiting a GECU location. Your signature will be required to complete the request. One rate adjustment can be made per year and is reflective of an anniversary year, based on the certificate open date.

What happens at maturity?

Certificates automatically roll over on the maturity date to a new certificate, with the same term, at the current rate. You’ll be notified by mail one (1) month before maturity and have ten (10) days from the maturity date to withdraw or transfer the funds with no penalty. A certificate addendum is mailed after a certificate rolls over.

Can I change my certificate to a different term upon maturity?

Yes, you can change the certificate term that your existing certificate will roll into anytime in advance of the maturity date; it will take effect on the maturity date.

What Do Rising Interest Rates Mean for Your Money?

On March 16, 2022, the Federal Open Market Committee (FOMC) of the Federal Reserve raised the benchmark federal funds rate by 0.25% to a target range of 0.25% to 0.50%.

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Anytime there’s a tragedy – a tornado, a flood, a man-made disaster – there are appeals to help the innocent people affected. And whenever those appeals become popular enough, scammers try to get in on the action by conning the unsuspecting out of their hard-earned money. The same activity can be expected in the wake of Russia’s on-going invasion of Ukraine.

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Bump Certificates

Your savings deserve
a bump