New Look FAQs

Has GTE been bought out or taken over by another financial institution?

No, GTE Financial is still an independent, member-owned, not-for-profit credit union—the same as always. Our financial strength is better than ever, and so is the secure, reliable financial service you’ve come to know and trust.

Are we still a credit union?

Absolutely. We are still a credit union and our commitment to and focus on our members is still our number one priority.

Can my family members still join GTE Financial?

Absolutely. In fact, membership is open to everyone in the community—your family, friends, neighbors, and co-workers alike. So if you love being a GTE Financial member, we’d love for you to encourage others to join us, too.

What is GTE Financial’s value proposition for members, and how does that compare to the value proposition of a bank?

Banks’ operational model inherently prevents them from being able to provide the value we do as a not-for-profit financial cooperative. Our value proposition lies in our 7 cooperative principals, most importantly Democratic Member Control, which allows us to serve our membership and base decisions on what is in our members’ interest, rather than motivations for profit to stockholders.

Are my current checks, debit card, ATM credit card, etc., still valid?

Your GTE FCU checks, debit credit and ATM cards are not affected and can be used as normal.

Will I receive new checks with the new name and logo?

When you reorder checks, they will have the updated name and logo.

When can I expect to be reissued items with the new name & logo?
Card expires any time between
August 2012 & December 2012
New Card Issued
Member Normal Reissue date (when card expires)
Member Advantage Normal Reissue date (when card expires)
Employee Normal Reissue date (when card expires)

Card expires after
December 31, 2012
New Card Issued
Member Normal Reissue date (when card expires)
Member Advantage Late August 2012
Employee Late August 2012

Note: All cards will have new expiration dates but will have the same account number
Are my accounts still federally insured?

Yes, GTE Financial is federally insured by the NCUA, as always.

Is my loan agreement the same?

Yes. Your loan terms will remain the same and your loan documentation is not affected with this change.

Do I have to update any bill pay or automatic debits/credits with the new name?

No, there is nothing to change; all current processes will remain intact.

Will my credit report still list my loan as GTE FCU or will it update it to the new name, or will it look like I took a new loan out and show payment history for both?

Credit bureaus will be reporting as GTE Financial. For auto loans (DMV) and all other legal documents, it will be listed as GTE Federal Credit Union DBA (Doing Business As) GTE Financial.

Do I need to update my insurance with new lien holder information for my mortgage or car loan?

No, the change does not affect your insurance.

I already mailed in my loan payment made payable to GTE Federal Credit Union, will you still take it this time?

Yes

Does this change affect my account in any way?

No.

Will my account number change?

No

Will my routing number change?

No

Do I need to do anything with ACH payments/transfers?

No

Will the website address still be www.gtefcu.org, even though Federal Credit Union is being dropped?

The web address will be gtefinancial.org

Will my sign-in information change on the website?

No

What changes will we see in the Community Financial Center locations?

We are refreshing interiors now (new paint, carpet, etc.). All Community Financial Centers (CFCs) will receive updated signage, merchandising, and marketing. After the launch date we will continue to update the centers with new technology - new lobby management software for sign-in and new member interactive stations (Virtual Centers) where members can access Online Banking. Members can work on either a traditional keyboard and monitor or an iPad which will allow use of our Deposit2Go app.