GFCU Announces Intent to Merge
We are immensely proud of everything GFCU has accomplished since its inception in 1950. That said, the GEICO Federal CU Board recognizes a need to generate even more value for you, your family, and all GEICO associates. To continue building on the success of what we started and remain viable, bringing GFCU together with BCU enables scalable growth, more robust products, better technology, expanded access and service delivery, along with an improved ability to meet the needs of each member wherever they are in their financial journey. Once the merger is complete, we anticipate this will be around mid-year 2020, GEICO FCU will officially become GEICO Credit Union, a division of BCU.
BCU is a purpose-driven organization that empowers people to discover financial freedom. At $3.8 Billion in assets, it’s also one of the fastest-growing credit unions in the last four decades. Both not-for-profit and member-owned, BCU partners with America’s best workplaces to offer lifetime membership for their employees and families. Members enjoy easy, on-the-go access to their money, a broad network of full-service retail locations, leading-edge technology, and well-being programming that inspires financial confidence. BCU is driven by an unwavering commitment to provide extraordinary service and measurable value for over 265,000 members across the US and Puerto Rico.
Why this Merger is a Benefit to You
Convenience - Members will have access to a 24/7 contact center, expanded branch operations, and leading-edge digital banking.
More Value - By taking advantage of economies of scale and reduced operating expenses, we can pass these savings along to members with a high return on savings, lower rates on loans, and reduced fees.
Technology - Improved technology for associates and members, something that requires significant investment and is in high demand, will significantly improve at our combined size.
Employee/Member Service - Being part of a team of more than 600 employees with more resources and improved training, affords our staff the opportunity for personal development and to create extraordinary experiences for all members.
For more information, please refer to the merger resources below.