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Join & Member Owner Share FAQs


Are there eligibility requirements?

Yes. However, there are many ways to join our Credit Union! Through family, your place of employment, where you live or joining our CU Savers club, it’s easy to become a member.

How do I apply?

Applying for membership is simple! You can apply online, visit a Community Financial Center or call us at 813.871.2690 or toll-free at 1.888.871.2690. We also have a switch kit available to make your transition even easier.

Member Owner Share

What’s a $5 Member Owner Share?

When you join GTE Financial, you will need to fund your primary savings account. $5 will be automatically transferred from your primary savings to a special account called a Member Owner Share. The $5 represents your ownership and membership in the credit union. You will not be able to access the $5 for transactions; however, if you do decide to ever leave GTE, you will receive your contribution back.

What will the description of the transfer look like on my statement?

The transfer will show as "Withdrawal Eff. MM-DD Minimum Membership Balance Transfer $5 to Member Owner Share."

What if I just have a loan with GTE? Will I need a Member Owner Share?
When you acquire a loan with GTE Financial, you also become a member of our credit union. When you joined, you opened and deposited $5 into a Primary Savings account. The $5 that was deposited is your one share of our financial cooperative. Instead of a Primary Savings account housing your $5 member share, it will now be in this newly designated, non-transactional Member Owner Share.
Is a Member Owner Share mandatory?
Yes. When you open an account, a Member Owner Share will be created for you. Every primary member has a $5 Member Owner Share created for them.
Why are you creating this separate account?
This separate account clearly reflects your ownership share of GTE Financial.
Where is the $5 to create this new account coming from?
We are simply separating (or transferring) $5 from your Primary Savings account, and placing it in this designated Member Owner Share.
Do I have access to the $5 in the Member Owner Share?
No. The $5 in your Member Owner Share will be returned to you if you decide to leave the credit union, once all of your accounts are closed. Otherwise, as a member, your $5 share of our financial cooperative will be kept in your Member Owner Share.

When is the new Member Owner Share created?
Your Member Owner Share will be established the evening of your savings account opening, which is also the day you join.
Do I have to setup this account?
No. We will transfer your $5 member share from your savings account to your Member Owner Share for you.

If I have my spouse or a joint on my accounts, will they also have their own separate Member Owner Share established?
Only if the joint owners on your accounts have their own Primary Savings account where their name is reflected as the primary owner. The $5 for their new Member Owner Share will be transferred from their Primary Savings account.
How will I know when my new account has been created?
Your new Member Owner Share with your $5 member share balance will show on your monthly account statements, as well as in Online Banking.
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