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    Tips for Paying Off Your Mortgage Early

    Last updated 8 months ago

    There are two main types of mortgages: fixed-rate mortgages and adjustable-rate mortgages. Fixed-rate mortgages are those in which the interest rate typically stays the same over the entire term, whether that is 15, 20, or 30 years. Adjustable-rate mortgages, on the other hand, usually offer lower initial rates which fluctuate over the life of the loan and may lead to higher loan payments. However, most individuals do not realize that they do have the option of paying off their loan early regardless of whether they have chosen a 15, 20, or 30 year loan. This article will provide several tips to help you pay off your mortgage earlier.

    Make Higher Monthly Payments
    One of the simplest ways to pay off your home loan early is to make higher payments each month. Consider going over your budget and seeing if you can tack on an additional 50 to 100 dollars to your payment, as this will not only shorten the length of the loan and reduce your interest, but will also make a dent in your principal.

    Change to Biweekly Payments
    Another way to pay off your mortgage before your term is to switch to biweekly payments. If you consider the fact that there are 52 weeks in a year, and you pay half of your monthly payments every other week—you will end up making 26 half-payments at the end of the year, or the same as 13 full monthly payments. This means that paying biweekly will allow you to overpay by one month at the end of the year, and in doing so, allows you to potentially cut down your mortgage by several years.

    Refinance Your Loan
    Refinancing your current loan is another way to pay off your mortgage early, but only if you can afford higher monthly payments as you are reducing the amount of time you have to pay off the same loan amount.

    For more information on home loans, mortgage refinancing, or our other loan products, contact GCS Credit Union today at (618) 219-8600. You can also click on the link to visit us at our website. 

    GCS Credit Union: Cub Club

    Last updated 8 months ago

    Here at GCS Credit Union, we believe it’s never too soon to start saving for your future. That’s why we have the Cub Club for members ages 10 and under. As a member, Cubs can take part in a number of special club events, Youth week, and enter contests for exciting prices. Club members will also receive the quarterly ROCKSTAR SAVER newsletter, which provides helpful tips about money and how credit unions work. The Cub Club is free as long as children are members and open a 5 dollar savings account. Once members reach age 11, their membership will expire, but they will be automatically promoted to the CU Savers club.

    Make sure your child is on the road to financial security by enrolling them in the Cub Club today! Contact GCS Credit Union at (618) 219-8600 for more information on the CU Savers club and the Get Mo Green Club for children ages 14 to 18. 

    Loans Offered By GCS Credit Union

    Last updated 8 months ago

    GCS Credit Union was founded in 1941 in order to provide loans and basic savings products to individuals living, working, or attending school in a number of Illinois counties—including Madison, Monroe, St. Clair, Jersey, Montgomery, Clinton, and more. While our credit union is big enough to offer our members efficient and convenient services, we are also small enough to provide our members with the customized financial tools to meet their individual needs. Keep reading for more information on our various loan products.

    Whether you are ready to purchase your first home or want to renovate your current residence, GCS Credit Union is your O’Fallon resource for home loan products. We offer mortgages at competitive interest rates for home buyers—as well as home equity lines of credit for current homeowners interested in remodeling their homes, using their equity funds to invest in their children’s education, or consolidating their debt.

    Auto Loans
    GCS also offers competitive rates for auto financing. Our auto loans are designed to ensure you get the rate you need with a monthly payment that fits your budget, so that you can get into the new or used car of your dreams.

    Personal Loans
    When you need money for unexpected bills, want to take a vacation, or simply want to work on your credit score, a personal loan may be the solution. GCS Credit Union offers personal loans ranging from 500 to 15,000 dollars, including open-end loans, closed-end loans, consolidation loans, and Christmas or vacation loans.

    No matter what type of loan you need, our O’Fallon, Illinois credit union is here to answer all of your questions. Give our credit union a call at (618) 219-8600 to learn more about our loans, checking accounts, and debit cards. You can also complete our easy application process by visiting our website. 

    Get Member Discounts with Shop America!

    Last updated 8 months ago

    If you do a lot of online shopping, and you currently have a GCS Credit Union rewards card, we’ve got a great new deal for you! This video takes a quick look at the GCS member discounts now available through Shop America. Not only does the GCS rewards credit card allow you to earn rewards with every purchase, but it even lets you shop online with Shop America so that you get cash back. Check out the rest of the clip to learn more.

    Want to make money just for shopping online? Get the facts about our member discounts by visiting our O'Fallon, Illinois credit union online or by calling us at (618) 219-8600. 

    Back to School with Dell

    Last updated 8 months ago

    Credit union members are eligible to receive a $200 Dell promo eGift card when purchasing a new Dell system for back to school.  Now is a great time to buy a new tablet, laptop, or PC and get your student the latest technology from Dell.

    Credit union members will receive the Dell $200 promo eGift card when purchasing a qualifying PC or tablet priced at $699.99* or higher through the Invest in America program. 

    Members can use their eGift card toward the purchase of an Xbox 360, tablet, TV, PC or other Dell electronics and accessories. 

    Visit the Dell page on the website for complete details of this offer and other great credit union member discounts from Dell.

    Save Even More with the Dell Advantage Loyalty Program
    Credit union members can also join the Dell Advantage Loyalty Program for free. Members can earn rewards and get free 2nd business day shipping on all purchases. Dell Advantage members get these savings:

    • 5% back on a Dell Promo eGift card for each qualifying purchase using the Advantage Membership
    • Free 2nd day business shipping on all purchases
    • Exclusive monthly emails featuring special offers on PCs, electronics and accessories
    • Exclusive offers from Dell partners such as Blockbuster and Rhapsody

    Click here for complete details on the Dell Advantage Loyalty Program. 

Do you like GCS Credit Union?

Refinance and Save!

GCS Credit Union has a great way to help out your budget. If you currently have an auto loan financed with another lender, we want you to check out our refinance special.

Expires on 4/30/14

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  • 8:30 AM to 5:00 PM Monday
  • 8:30 AM to 5:00 PM Tuesday
  • 10:00 AM to 5:00 PM Wednesday
  • 8:30 AM to 5:00 PM Thursday
  • 8:30 AM to 6:00 PM Friday
  • 8:30 AM to 12:00 PM Saturday


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