GCS Credit Union
618.797.7993
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.

Getting the Most from Online Banking

If you’re like most people, it can seem like it gets harder and harder to fit everything into your day. Why should banking be another inconvenient item on your to-do list? GCS Credit Union offers online banking services so you can manage your money in a way that fits into your schedule.

Our online banking services provide you with comprehensive money management tools. Get eStatements anywhere to manage the money going into and out of your accounts and set up transfers between your accounts in just a few clicks. See the checks that have cleared your account, download financial management software, and make your loan payments directly from your computer or phone.

If you are a GCS Credit Union customer who needs to set up online banking in O’Fallon or simply want someone to walk you through all of the features, stop by one of our credit union locations today. You can also call us at (618) 797-7993.

What Should You Consider When You Refinance Your Mortgage?

Refinancing home mortgage loans can save consumers significant amounts of money, but only if it's done correctly. There are many things to consider before deciding if now is the time to approach your credit union about refinancing. Keep these things in mind as you weigh your options.

Interest Rates

Refinancing is all about saving money and lowering your monthly payments, so the interest rates should be lower than when you got your loan. Take a careful look at how the current interest rate will affect your payment. Generally, it is not worth refinancing unless the current rate is at least two points below the rate at which you are locked in. Keep in mind that the current interest rate may not be the rate you are offered during your refinancing. A number of factors, including your credit score, can impact the interest rate you ultimately receive.

Penalties and Fees

When home mortgage loans are refinanced, the first loan is paid off with the new loan, which could be considered an early payoff. There are often large fees attached to paying off mortgages early, so consider the fee you will be charged to make sure refinancing will actually save you money. There are also fees similar to closing costs attached to refinance loans, and in some cases, hefty penalties for trying to pay off the second loan early. Include these costs in your calculations, particularly if you plan to move in the near-future and could potentially face another round of early payoff penalties.

Refinancing Reasons

Refinancing your home can be a smart financial move you have a plan for the savings. If you hope to refinance to pay off debt and get ahead, doing so could change your financial life, as long as you change your spending habits. Refinancing to stay afloat without a plan to change your circumstances could ultimately work against you.

Let the experts at GCS Credit Union help you make the right decision about refinancing. The team at our credit union in O’Fallon works for you, not an executive board, and are committed to your financial success. Learn more about mortgages, online banking, and more by calling (618) 797-7993.

Using Technology to Take Control of Your Money Management

Careful money management allows you to plan for the future, reach goals like home mortgage loans and even vacations, and avoid unnecessary expenses like fees for an overdrawn checking account. Now, money management is easier than ever thanks to technology that puts the information you need at your fingertips. Consider putting this technology to work for you as take control of your finances.

Online Banking

Few tools are as easy and as important to money management than online banking. When you sign up for online services from your credit union, you’ll get all of the tools you need to see your account activity in real time and manage your money accordingly. Look at your checking account balance before making a purchase, shift money into your savings account at regular intervals, or simply keep an eye on where your money is going to identify any wasteful patterns. Online banking can help you set and meet savings goals, avoid overdrafts, and always have a full grasp of your financial picture before making decisions.

Online Bill Pay

Online bill pay takes the hassle out of paying bills by doing away with the checkbook, envelope, and stamps. Set up payments directly from your accounts without worrying about the check getting lost in the mail. Paying your bills online gives you the security of knowing your payment was received and alleviates concerns about juggling due dates.

Online Budgeting Tools

There are a wide range of tools that can be used to build and track your budget online, including apps that you can download to your smartphone. Use these tools to manage your spending and savings goals and to set limits. By plugging your spending habits into your budgeting tool, you can identify areas where you may be able to cut back and save more money to spend on the things you really want.

If you’re interested in making technology work for you, visit your GCS Credit Union branch for more information. We provide online banking in O’Fallon and much more to help you reach your financial goals. For more information, call (618) 797-7993.

Smart Money Advice for Millennials

If you’re a millennial, you’re just starting to learn how to manage your money and make smart financial decisions. Your credit union is always there to help guide the way. This video also offers some advice.

One of the smartest things that millennials can do is manage their credit scores. Find out what yours is, and if you don’t have a credit card, talk to your credit union about getting a rewards card and charge only what you can pay off each month. Refinancing student loans and practicing with the stock market before actually investing are also good strategies.

Young adulthood is the right time to build healthy financial habits for life. At GCS Credit Union, we can help you make smart decisions about checking accounts, auto loans, and more. Find out how our credit union in O’Fallon can help you by calling (618) 797-7993.

Making Your Checking Account Work for You

Who says your money just has to sit in your checking account, waiting for you to spend it? With the checking account options at GCS Credit Union, you can get more from your checking account for less, with free checking options that pay you. Here is what you need to know.

With Kasasa Cash checking account, you get free checking with up to 2.00% annual percentage yield just for meeting some basic qualification like using online banking and making at least 12 debit card purchases per month. With the Kasasa Cash Back account, you can get up to $6 cash back per month just for making regular purchases. For a no-frills account option, choose Free Classic Checking for access to online banking and bill pay. Students can learn to manage their money with the help of a parent with a free Student Success Account Package added on to a Kasasa Cash Back or Free Classic Checking Account.

Call GCS Credit Union in O’Fallon today for more information about our member services and how our credit union helps you succeed. You can find out more about becoming a member by calling (618) 797-7993.

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Hours

  • Monday 8:30am — 5:00pm
  • Tuesday 8:30am — 5:00pm
  • Wednesday 10:00am — 5:00pm
  • Thursday 8:30am — 5:00pm
  • Friday 8:30am — 6:00pm
  • Saturday 8:30am — 12:00pm