[Rate Increased][ID, WA & OR only] Gesa Credit Union 5% APY On Balances Up To $5,000

Update 12/22/24: Rate now 5%

Update 12/8/24: Rate was reduced to 3% as of 12/01/2024

Update 9/3/24: Rate is now 5%, was 7%.

Update 6/29/23: $350 bonus no longer offered

Update 3/21/23: You can now get a $350 bonus as well. Bonus broken down as follows:

  • Get $200 when you:
    • Open your new checking account
    • Sign up for Online Banking and eStatements
    • Complete 10 debit card purchases (excluding ATM transactions)
  • $150 when the account has been open for one year

Update 1/7/23: Increased from 5% to 7%. There’s also a referral program whereby each party gets $100.

Offer at a glance

The Offer

Direct link to offer

  • Gesa Credit Union is offering balances 5% APY on balances up to $5,000 when they following requirements are met:
    • Enroll in eStatements
    • Make a monthly direct deposit of over $200
    • Complete 15 debit card transactions
    • Provide and maintain a valid email address
    • Limit one account per member

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees.

Our Verdict

I’m guessing we will start seeing a lot more of these high yield savings accounts.

 
    William Charles
  • On September 3, 2024, 19:40
Tags: credit card fundinghigh yieldid high yieldor high yieldsoft pullwa high yield

View Comments (212)

  • The rate went back up to 5% and now it's down to 3% again in 2025. Time to move on from this credit union.

    • @will Rate is now listed as 5% "as of 12/01/2024." They completely retconned this. They must have back-tracked the decision to lower rates after backlash from customers. We'll see how long this lasts...

  • That's bad, IQ credit union (available for Washingtonians) provides 5.5% checking up to 25K (12 debit card transactions + direct deposit). Time to move money around I guess.

  • Dammit… I shift over to them as a primary checking and they do me dirty like this. Still better that the vast majority of checking accounts though. If you always keep $5k in there they are essentially paying you $250 each year to bank with them. There are better options out there still though… maybe not for long with pending rate cuts.

  • Confirmed that APY on savings and checking has dropped to 5%. This is a competent and trustworthy credit union, but I only maintained the account for the high interest rate. At this point, there's no reason for me to keep the accounts open. I will close my account.

    • What is the data point for this? Do you know if they still support any sort of debit card funding during account opening?

      • You can click through their site & try to open an account and it says very plainly that they don't accept credit cards to open an account before you even enter your name or anything.

    • Damn, really? When did you try? My cousin opened a checking like 4 months ago and he said it was still an option back then

  • Gesa tried to play one on me by refusing bonus.

    6/2: Signed up from offer page showing $350 bonus. Not instantly approved and got a message stating someone will contact me
    6/3: Offer dead
    6/5: Received call+email from banker asking me to upload verification docs
    6/9: Account opened finally with CC funding
    7/15: Had met all requirements so reached out via message asking about sign up bonus and the associate told me offer ended 6/3 and I signed up on 6/9 so no bonus for me. Replied back with the 6/2 email snapshot showing I signed up while the offer was active
    7/18: Agent filed for exception and the $200 were deposited soon after.

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