Recognized for highest yield* among 58 largest banks and credit unions in the U.S.
DRAPER, Utah ---- November 6, 2013 ---- GE Capital Retail Bank's (GECRB) Optimizer+plussavings CDs have been named a "Best Standalone Account" and the "Best 12-month CD" by MONEY® Magazine as part of its 2013 ranking of the "Best Banks in America." Featured in MONEY's November issue, GE Capital Retail Bank is recognized for "paying more than any other bank on one-year CDs with balances of $25,000," among the 15 biggest online banks, three biggest credit unions by deposits, and 40 biggest retail banks by consumer deposits and number of branches, according to financial services consulting firm Novantas. All 58 banks surveyed were reviewed for best checking, savings, CD terms, customer experience, business accounts, app and standalone accounts.
"We are proud to earn this designation, which is a testament to our consistently competitive rates and commitment to provide safe, industry-leading savings solutions," explains Kurt Grossheim, president of GE Capital Retail Bank. "Research shows that online banks have a more important role today among consumers, and our customers tell us that they appreciate our secure, high-yield products without compromising convenience and the high levels of service we provide."
As part of its funding diversification strategy, GE Capital Retail Bank acquired MetLife Bank's deposits business on January 14, 2013, adding an established online banking platform. On October 24, GECRB launched Optimizer+plus, branding its deposit suite of savings products, including CDs, Money Market and Savings accounts, and IRAs. A Federal Deposits Insurance Corporation (FDIC) member, GECRB's Optimizer+plus products are designed to provide consistently competitive rates, personalized and safe online banking, loyalty rewards, a dedicated team and secure 24/7 account access.
"We've worked hard with our customers and for our customers to build satisfaction and deliver long-term value. As a result of our efforts, we've experienced strong, double-digit program growth in just eight months, launched new branding, expanded our product offering, and added thousands of customers," explains Grossheim.
*At time of publishing, GE Capital Retail Bank 12-month CD -- Minimum Deposit: $2,000; Interest rates on: $10,000 is 0.85%; $20,000 is 0.95%; $30,000 is 1.05%. For Money Market and High Yield Savings Accounts, the rate may change after the account is opened. For CDs, early withdrawal penalty may apply. Fees may reduce earnings. FDIC insurance is up to $250,000 per depositor, per insured bank, for each ownership category.
About GE Capital Retail Bank
GE Capital Retail Bank is a federal savings bank headquartered in Draper, Utah, and a member of the FDIC. GE Capital Retail Bank is part of the GE Capital Retail Finance business, among the country's most successful retail lenders, with 80 years of experience in consumer financing. Together, they provide customized credit programs to retailers and consumers in the United States, including private label and bankcard credit programs to major national, regional and independent retailers, as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers, contractors, manufacturers, healthcare practices, and service providers across 20 industries.
GE Capital is one of the world's largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
Cristy Williams
[email protected]
678.518.2596
Dori Abel
GE Capital Retail Finance
[email protected]
203-585-6702