With rising fees and questionable business practices fueling the country’s
misgivings about banks, more and more people are turning to credit unions
than ever before. There are more than 7,000 non-profit, member-owned financial
institutions in the United States, including dozens of branches in O’Fallon
and throughout Illinois. Credit unions vary in size and services, but
all operate with a member-first mentality that gives more back to the
consumer. If you’re fed up with your bank, consider these advantages
of joining a
credit union in O’Fallon.
Superior Customer Service
Because credit unions are owned by their members and not by a board of
directors, they strive to provide the very best customer service—and
do a good job at it, too. According to the most recent Prime Performance
Bank and Credit Union Customer Satisfaction Survey, credit union customers
rates their overall satisfaction at 89 percent, seven points higher than
the industry average for financial institutions.
Lower Interest Rates
Another benefit of banking with a member-owned, not-for-profit credit
union is that these financial institutions typically offer much lower
interest rates on loans and credit cards compared to banks. That’s
because credit unions aren’t concerned with turning a profit, so
they can charge lower interest rates than for-profit banks.
Fewer and Lower Fees
Credit unions serve their members first and foremost, which is why credit
unions traditionally have
fewer and lower fees than banks. Industry analysts have estimated that credit union members across the
country save more than $6 billion in fees that would otherwise be collected by banks.
GCS Credit Union has been providing banking and loan services in Illinois since 1941. Our
primary focus is helping our customers, not making a profit of them. We
invite you to visit any one of our seven conveniently located branches
to learn more about our products and member services. If you have questions
about banking with a credit union, call us at (618) 797-7993.