GCS Credit Union

Four Great Reasons You Should Be Using Direct Deposit

One of the many benefits of becoming a member at your local credit union is the ability to set up direct deposit of paychecks into your account. Direct deposit into your account offers a way to receive your income faster and more safely—keep reading to discover four great reasons why you should consider this banking feature today.

• It’s Convenient

Every employee at your workplace gets paid on the same day, and payday is often the same for most companies. This can mean long lines—and long waits—to deposit your paycheck at the credit union. Your time is valuable, and you shouldn’t have to spend it waiting in line. With the convenience of direct deposit, waiting in line is eliminated because your paycheck is deposited directly into your credit union account with no effort on your part.

• It’s Secure

Mailed checks can be lost, stolen, or delayed, and you may misplace your check before you can deposit it. With direct deposit, your funds appear directly in your credit union account, so your check is never mailed and cannot be lost, stolen, or forgotten. 

• It’s Profitable

Direct deposit puts your paycheck to work for you faster than ever. Your check is available and begins earning dividends immediately upon issuance when it’s directly deposited into your credit union account. Without direct deposit, that money can’t start earning interest or pay bills until you deposit it, which may not be for days until after it’s issued or received.

• It’s Confidential

Because there is essentially no middleman, direct deposit ensures that your pay goes directly from your employer’s account into yours. Your information and funds pass through fewer hands—and fewer systems—for heightened privacy and confidentiality.

At GCS Credit Union we offer services such as direct deposit, credit cards, and loans in O'Fallon, IL. We’re here to ensure that your paycheck is deposited safely and starts working for you immediately every payday. To learn more about our offers and services, visit us on the web or call (618) 219-8600.

What Happens After You Swipe Your Credit Card?

Have you ever wondered just how your credit card is processed? Learn how this happens every time you swipe your card by checking out this fascinating video.

This video outlines the entire process of processing your credit card, from the instant you hand the merchant your card to the time at which the card issuer checks your credit and responds to let the merchant know your credit card has been accepted. You will learn about the five parties involved in credit card processing and how each is connected during transactions. To find out more, be sure to watch the entire video. 

Join GCS Credit Union in O’Fallon, IL today and enjoy benefits such as a great rate on a Visa credit card. We offer Diamond and Platinum rewards based on your credit score, so find out how you can start earning rewards today by visiting us online or calling (618) 219-8600.

Encourage Your Kids to Save With a Grow With Me CD

A CD, or certificate of deposit, is a great way to start teaching your kids the basics of saving money with a credit union. Keep reading to learn about the benefits of choosing a Grow With Me CD from GCS Credit Union to start them down the road to financial responsibility and independence. 

How a CD Works

A CD is one of the safest investments you can use to start teaching your child about saving money and investing. When your child buys a CD at the credit union, he or she invests a certain amount of money that begins earning a high interest rate. In exchange, the credit union keeps that money for a specified amount of time. Once that time is up, the CD matures and the original deposit, with earnings, can be withdrawn or reinvested for even more growth.

Benefits of the Grow With Me CD

The Grow With Me CD from GCS Credit Union is designed for investors aged 18 and younger. This CD has a number of features and benefits you and your child will love.

• The Grow With Me CD has a low minimum deposit of only $250. This means it’s easier to start investing with less and makes it an ideal present for birthdays, holidays, and graduations.

• You can choose the terms of your CD for maturity after six, nine, or 12 months for added flexibility.

• Even though the Grow With Me CD is for younger children and adults, it will earn the same rate of interest as a regular CD with GCS Credit Union.

• You and your child can decide to set his or her Grow With Me CD for auto-renewal upon maturity or for a single maturity only.

Consider a Grow With Me CD for your child at GCS Credit Union of O'Fallon, IL. Teach the value of investment and saving as your children see the rewards of putting their money to work for their future. To learn more about CDs and other savings accounts, visit us on the web or call (618) 219-8600 today.

Check Out our New GCS Music Video by Local Celebrity, Ethan Jones!

Tips on Saving Money and Using a Credit Union

There are endless benefits to using a local credit union for your banking services. From membership benefits, low interest rates, and more! The employees at GCS Credit Union in O'Fallon, IL are dedicated to providing excellent customer service. Call us today at 618-219-8600 to find out how GCS Credit Union can help you!

• Are you trying to save your pennies? Get some fantastic tips on saving from Good Housekeeping.

• Money expert Suze Orman offers these priceless tips on saving money.

• US News provides this informative article on why you should consider joining a credit union.

• Do you know how banks and credit unions differ? Find out from MoneyCrashers.com.

• Learn more about credit union discounts from LoveMyCreditUnion.org.