GCS Credit Union
GCS is a full-service financial institution serving the following counties in Illinois: Sangamon, Logan, Macon, Marion, Jefferson, Perry, Jackson, Williamson, Jersey, Macoupin, Montgomery, Madison, Bond, Clinton, St. Clair, Monroe, Washington and Randolph.

A Quick Look at Home Equity Loans

If you have a major expense you need to finance, the solution could be as close as your home. Every time you make a mortgage payment to your credit union, you build up equity in your house. This equity can be converted into a loan with friendly terms that you can use for big purchases, without touching your savings account.

Home equity loans can be offered as a single lump sum payment, or they can be offered as a line-of-credit, or HELOC, which you can use a little at a time for long-term projects. With favorable terms and tax-deductible interest, a home equity loan could be the perfect way to cover the costs of a wedding, tuition, home improvement project, or other major expense.

If you’re interested in learning more about home equity loans and other lending options, contact GCS Credit Union. We’re pleased to offer a complete range of banking services, from checking accounts and auto loans to online banking and credit cards. Find out more about our credit union in O’Fallon today by calling (618) 797-7993.


  • 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