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Share Certificate Special FAQ

Now is the time to save like you mean it! Thank you for your interest in GTE’s Share Certificate Promo, where you can earn up to 3.04% APY  during this promotion. Have questions? Here are some helpful answers. Click to the disclosure and full details

Visit the Promotional Share Certificate Page!   How to Open & Fund

Frequently Asked Questions:

When does this promotion start and end?

The Promotional Share Certificate Special starts on November 28, 2018. Only new Share Certificates opened on/after November 28, 2018 will be eligible for the APY special. Although there is no specific end-date, this promotional Yield will not be a permanent offering.

Is there a minimum amount I need to open a Share Certificate?

Yes. For this special, a $500 minimum opening balance required.

How do I open a Promotional Share Certificate?

You have options!

  • If you are a current member:  Login to Online Banking and under ‘Accounts’ in the main navigation, you can click ‘Open Additional Account’. Select ‘Open an additional Checking/Deposit account’ and then choose ‘Certificate Account.’ It will walk you through selecting your desired term and product. You will also be able to fund your account.
  • If you are not currently a member, no problem! You can still open a Share Certificate online.  Click here to get started. It will walk you through opening up a membership with a Savings Account first. Click here for eligibility. You will also be given the option to ‘Open an additional Checking/Deposit account’ within the same experience. Select that option and then choose your ‘Certificate Account.’
  • When funding the Share Certificate: Make sure to fund using a non-GTE Debit or Credit Card, or choose the option to supply a different bank and provide the account number, routing number and financial institution name. The maximum to deposit online is $100,000 if you are transferring from an outside institution via ACH (checking or savings account) and $5,000 if you're using a credit card. If you'd like to open the Share Certificate with more, please visit our friendly staff at a GTE location!
  • Open a different way: No problem! If you prefer to make a deposit in person, or would like to deposit more than $100,000, simply visit a GTE Financial location to open a Promotional Share Certificate.
Once I open the Promotional Share Certificate, how will I see/access it?

It’s simple! You can view your Share Certificate in Online Banking or the GTE Mobile App

If I already have a Share Certificate with GTE, can I get the APY special?

This special is only eligible for Share Certificates opened on/after August 24, 2018. When you opened your regular Share Certificate, the Yield was locked in based on the Yield and term you selected. However, you can open a new Share Certificate while the special is going on; some members choose to have multiple! 

How do I move money from another financial institution?

First, open your Promotional Share Certificate. You can also open a Promotional Share Certificate at a GTE location. At the time you open the special 5 Year Share Certificate, you will be able to choose how you fund the account. You can choose between a Credit or Debit Card (just make sure it’s not a GTE card) or transfer funds from another financial institution by providing the account number and routing number as well as the bank name and state. You will not want to fund using the ‘Transfer from a GTE Federal Credit Union Account’ option. In order to earn the APY special, the money will need to come from a different financial institution. The highest amount you can fund online is $5,000. If you’d like to deposit more, simply visit a GTE location!

What if it’s a large sum that I am looking to move over?

If you apply and open a Share Certificate online, it will walk you through the funding process. However, there are limits to how much you can deposit using the online experience. If you are looking to make a deposit into the special 5 Year Share Certificate over $5,000, we recommend making a deposit at a GTE Financial location or a Shared Branching location. We are conveniently located throughout Tampa Bay!

What is a dividend? And, when will I earn it?

The money you earn from the Yield (Annual Percentage Yield) on a Share Certificate is referred to as a dividend. Dividends compound monthly and are paid on the last day of the month and at the maturity of the Share Certificate, when the term ends.

How will the renewal work, since this is a special?

Great question! Once your term is up, the features related to this promotion will no longer be available, unless otherwise specified. This includes: the special APY will no longer be available. Your 5 Year Share Certificate will renew at the same term at the rate that is current for that product at that time. At renewal, you will receive communications and will be able to make changes if desired!

If I open a Share Certificate and need to make a withdrawal is there a penalty?

The money you earn on a Share Certificate is referred to as a dividend. Dividends compound monthly and are paid on the last day of the month and at maturity. If you decide to make a withdrawal on the Promotional Share Certificate, you would forfeit up to 90 days earned dividends for 6 and 12 month terms. For longer terms, you would forfeit up to 180 days earned dividends.

What is a term?

A term is the amount of time you agree to keep your money in the Share Certificate! At the end of the term, there is a renewal process where you can decide to keep the same term or make a change!

Why do I earn more the longer the term is?

Share Certificates are basically an account that GTE pays more on because you have agreed to keep your money at the credit union for a period of time. With a Checking Account for example, you can fluidly use your funds and transfer them at your discretion. With a Share Certificate, you select the term that is right for you! The longer you keep your money at the credit union, the more we are willing to pay with a Yield and dividends. We appreciate your deposits; since Share Certificates do have penalties for withdrawals or to close your account before the term ends, it’s important to consider the length and amount.

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