A savings bond refers to a non-marketable security that is backed by the full faith and credit of the United States government, which means that they can never lose principal or interest due to the status of the current financial market. Savings bonds can be obtained through your local credit union and are a great way to increase your financial security.
When you purchase a savings bond, you are basically allowing the government to use your money while paying you interest. Over time, these savings bonds can be cashed out for a higher rate than they were initially purchased for—but there are certain redemption restrictions. For example, you cannot cash a savings bond within six months or one year of the original issue date, and any savings bond cashed within the first five years will be penalized.
Do you already have a savings bond or want to purchase a new one? Give the O’Fallon GCS Credit Union a call at (618) 219-8600 for more information about our savings bonds. Our Illinois credit union also offers savings accounts, checking accounts, auto loans, and debit cards.
Purchasing a new vehicle can be an exciting experience, but unless you recently won the lottery, chances are high that you’ll need to obtain an auto loan in order to purchase the car of your dreams. While most individuals think that the only way to apply for an auto loan is to go through the dealership, you can actually obtain an auto loan from your local credit union. Continue reading to learn more.
Many individuals do not realize that credit unions have the amount of money needed to provide auto loans to their members. But as of 2009, credit unions made 80 billion dollars available for low-cost car loans to compensate for the financial crisis. Furthermore, a number of credit unions have built relationships with car dealers so that the credit union can offer loan options when customers decline the initial offer from the dealer.
Competitive Rates and Terms
The auto loans available through credit unions are just as competitive as those offered by a national bank when it comes to rates and terms. This means that you can obtain the same types of loans from credit unions as you would from other financial institutions, while still having the option to choose from different rate and term-conditions.
Being a member of a credit union offers a number of benefits, including more relaxed membership requirements and a user-friendly auto loan application process. In addition, being a member of a credit union means that you can obtain competitive rates on auto loans, as well as certain deals that are not available to other consumers.
If you are looking for an auto loan, the GCS Credit Union in O’Fallon, Illinois is here to help. Contact us today at (618) 219-8600 or visit us on the Web for more information about our auto financing options, checking accounts, and debit cards.
Unlike a number of banks which only focus on providing financial services to adults, the GCS Credit Union is proud to offer a number of services to O’Fallon’s youth. This video takes a closer look at the Cub Club from GCS.
Our Cub Club and kids services are designed to teach today’s youth the importance of saving money so that they can build a stable financial future and obtain the things they need. Whether you are interested in saving for a new bike, cell phone, or want to get a head start on your college fund—the Cub Club may be right for you. Watch the rest of the clip to learn more.
Contact GCS Credit Union in Illinois at (618) 219-8600 for more information on our products and services. You can also visit our website to read more about our membership services.
Whether you are planning on opening a checking account, obtaining a debit card, or applying for a loan, you will need to find a financial institution to meet your needs. Instead of turning to a national bank or other major financial institution, consider the benefits of choosing a credit union instead!
Be a Member, Not a Customer
Credit unions differ from banks in that they are member-owned financial cooperatives that are controlled by the members, rather than by investors in the company. This means that being a member gives you control over many aspects of the credit union, including the loan approval process and key decisions made by the institution. Being a member of a credit union also provides a number of benefits and perks, such as lower rates and more competitive terms on loan products.
Same Services at Lower Cost
Another benefit of working with a credit union is that they typically offer the same services as national banks at a much lower cost. In fact, studies show that smaller financial institutions like credit unions offer better interest rates on savings and loans, as well as better terms on credit cards. Credit unions also tend to offer debit cards, checking accounts, home loans, auto loans, personal loans, CDs, and IRA accounts.
Improve Small Businesses
Many individuals do not realize that working with a credit union puts money back into the local economy. Large banks typically devote only a small percentage of their commercial loan portfolios to small businesses, whereas smaller institutions account for more than half of small business lending. Furthermore, credit unions are often involved in their community, while nationwide banks are not tethered to local places of operation and therefore have little community involvement.
To find out more about the benefits of working with a credit union rather than a big bank, contact the GCS Credit Union in O’Fallon at (618) 219-8600. You can also check out our website for more information on our financial services.
Do you like GCS Credit Union?
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.
- 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