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GTE Financial Review 2023

Updated January 1, 2023
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At a glance

3.3
Rating: 3.3 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 2.8 stars out of 5

Checking

Rating: 3.6 stars out of 5

Savings

Rating: 2.7 stars out of 5

MMA

Rating: 2.4 stars out of 5

About Bankrate Score

Overview

GTE Financial, is a Florida-based not-for-profit financial cooperative that offers a mix of digital and brick-and-mortar banking with fairly low fees that are usually easy to avoid. It’s best suited for those living in the Tampa Bay area.

Highlights

  • Low Fees
Compare offers
Bank logo
Member FDIC
Savings Account
3.40
%
APY
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
1.10
%
APY
Rating: 0 stars out of 5
$100
Min. balance for APY
View offer Arrow Right

Overall

GTE is a full-service credit union offering checking, savings and money market accounts, CDs, IRAs and a host of other products and services. It offers a highly rated mobile app and bill pay to members, along with more than 20 branch locations and an extensive ATM network.

Pros

  • Checkmark

    Most accounts have low minimum deposit requirements.

  • Checkmark

    Account holders have access to more than 30,000 fee-free ATMs.

  • Checkmark

    Numerous banking products are offered, especially when it comes to checking account choices.

  • Checkmark

    GTE Financial offers solid digital features, including a highly rated mobile app.

Cons

  • The nonsufficient funds fee is $35, higher than the national average.

  • Yields at other top credit unions tend to be higher.

GTE Financial bank products

2.7
Rating: 2.7 stars out of 5
Bankrate Score

GTE Financial savings overview

It takes just $5 to become a member of GTE Financial. Savings accounts start earning dividends on balances of $100 or more. There’s a $7 monthly service fee unless a "relationship" balance across GTE accounts of $500 is maintained. The fee is waived for customers under age 22 or over 65.

GTE Financial has a special Early Savers account for kids under age 17 with no balance requirements or monthly fees.

Pros

  • Checkmark

    Just $5 is needed to open an account.

  • Checkmark

    The Early Savers account has no monthly fees or balance requirements.

Cons

  • The monthly fee of $7 is a drawback, but it can be waived by meeting certain criteria.

  • The APY for savings accounts is below the national average.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.40
%
APY
Rating: 4.9 stars out of 5
Info
$0
Min balance for APY
View offer Arrow Right

Bank experience

With 23 branches, GTE Financial is a worthwhile choice for consumers in the Tampa Bay area. There’s also access to 30,000 ATMs nationwide. Customer service can reached by phone seven days a week from 7 a.m. to 8 p.m. Eastern time. Live chat is also available on the credit union’s website.

The mobile app gets glowing reviews from Google Play and the Apple App stores. Applications to open a new account can be done online, but it can be difficult to find all the details on the GTE website, so a call to customer service may be necessary to get all your questions answered.

About GTE Financial

GTE Federal Credit Union, doing business as GTE Financial, is a well-established, full-service credit union serving individual members and businesses in Florida’s Tampa Bay area. It was founded in 1935 during the Great Depression.

It offers a choice of checking and savings accounts, including options for children and students. Deposits at GTE are insured by the  National Credit Union Administration (NCUA).

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.