GCS Credit Union
GCS is a full service financial institution serving the following counties in Illinois: Madison, St. Clair, Jersey, Macoupin, Montgomery, Bond, Clinton, Washington, Randolph, and Monroe.

Online Bill Pay 101

You should take advantage of the many benefits offered by your bank or credit union’s online banking and online bill pay options. Online bill pay allows you to quickly, securely, and conveniently manage your bill payments from any computer or electronic device, anywhere, at any time. You can also monitor activity on your checking account and savings account to ensure that you aren’t at risk of overdrawing your account.

With online bill pay, you can schedule bill payments in advance and set up payment reminders, so you’ll never forget to pay a bill again. All of your payee information will be stored in one secure, convenient place, so you won’t have to continually be looking up information. You can also easily track your monthly, quarterly, or yearly payments for accounting or tax purposes.

If you’re interested in setting up online bill pay in O’Fallon for your checking account, come see us at GCS Credit Union. We offer a variety of secure online banking services designed to make your life simpler and less stressful. To learn more about our banking services, call us today at (618) 797-7993.

Calculating Auto Loan Interest

Before signing the papers on an auto loan from your local credit union, you should take the time to determine how your auto loan interest will be calculated. Your interest rate will depend upon your credit score and your history of repayment on previous loans.

Watch this video to learn more about calculating auto loan interest. A credit repair specialist demonstrates using the auto purchase price and length of the auto loan’s term to determine the auto loan interest.

If you’re looking for a competitive rate on an auto loan in O’Fallon, come see us at GCS Credit Union. Our loan officers will guide you through every step of the process to ensure that you fully understand your auto loan terms and interest rate. To learn more about our lending services, contact us today at (618) 797-7993.

What Are the Benefits of Credit Unions?

Many people switch to credit unions because they’re tired of paying high checking account fees and mortgage and auto loan interest rates. Credit unions follow a different business model than traditional banking institutions, and are committed to providing a much friendlier experience for their customers. Here is a look at some of the benefits of choosing a credit union.

You’ll Pay Lower Interest Rates and Fees

As a credit union member, you’ll pay lower interest rates on auto loans and home mortgage loans, lower fees for your checking account. You will also enjoy higher interest rates on savings accounts. Most credit unions have a lot of flexibility regarding the fees that they charge members, and will opt to cut unnecessary costs or services rather than increase fees.

You’re a Shareholder Rather than a Customer

The members of a credit union are shareholders in the financial institution, and thus credit unions are only accountable to their members, rather than a governing board. The goal of a credit union is to pass along any profits that they make to the customer, rather than making money for the stockholders of the company. This means that your benefits as a credit union member are far more varied and valuable than the benefits offered by most banks.

You’ll Get Superior Customer Service

Because credit unions are cooperatives that are partially owned by each member, the employees are invested in providing members with superior customer service. They are non-profit financial institutions, and aim to provide members with affordable services. As a result, the majority of credit union members are incredibly satisfied with the banking services that they receive from their credit union.

If you’re interested in joining a credit union in O’Fallon, come see us at GCS Credit Union. We have been providing community-powered banking services since 1941, and are a full-service financial institution that offers checking accounts, savings accounts, online banking, auto loans, home mortgage loans, personal loans, credit cards, and IRA and retirement services. To learn more about our credit union, call us today at (618) 797-7993.

The Facts About Personal Loans

If you’re in need of money and don’t have enough in your checking account or savings account, you should consider taking out a personal loan from your local credit union. Credit unions are able to offer incredibly competitive interest rates and low fees on personal loans.

Watch this video to learn some important facts about personal loans. Matt McKillen, a financial specialist, discusses your personal loan options, and what to consider before taking one out.

At GCS Credit Union, our credit union in O’Fallon offers great rates on personal loans, lines of credit, auto loans, and home mortgage loans. Our loans are available in a wide range of customizable terms that can be designed to meet your personal financial needs. To learn more about our loan services, call us today at (618) 797-7993.

Looking Back at the History of Online Banking

Almost every bank and credit union now offers an array of convenient online banking and online bill pay services. Electronic banking services were first developed in the 1970s, and banks began offering some form of online banking services in 1985. Here is a look back at the fascinating history of online banking.

Early Development of Online Banking Services

Banks first offered home banking services and distance banking services via electronic means in the 1980s. Initial home banking services allowed customers to connect to their checking account or savings account information using a terminal, keyboard and TV, or telephone line. These early services were very primitive, and weren’t accessed by very many banking customers.

The First Online Banking Services in the U.S.

Online banking was first introduced in New York City in the early 1980s. The first banks to offer online banking services were Chase Manhattan, Citibank, Chemical Bank, and Manufacturers Hanover. These banks allowed their customers to maintain check registers electronically, check their account balances, and transfer funds between savings accounts and checking accounts. By the late 1990s, customers were more comfortable engaging in financial transactions over the internet, and online banking became more popular.

Online Savings and Checking Accounts Today

While online banking services got off to a slow start, a 2009 estimate claimed that about 47% of Americans were banking online. Banks and credit unions that offer online banking and online bill pay now provide comprehensive banking services to their customers via the internet. Some banking institutions only exist online, without local branches or ATMs for customers. With online banking, customers now enjoy 24/7 access to their account information and banking services, lower transaction costs, and the ability to access their accounts anywhere in the world.

At GCS Credit Union, we offer a variety of convenient online banking services in O’Fallon. If you’re interested in joining a credit union, you should talk to one of our friendly, knowledgeable representatives about getting an online checking account. To learn more about our online banking services, call us today at (618) 797-7993.

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  • Friday 8:30am — 6:00pm
  • Saturday 8:30am — 12:00pm