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.

GCS Receives Performance Award

Madison County Treasurer

Madison County Treasurer, Kurt Prenzler, and Chief Deputy Treasurer, Jeremy Plank, present an award to GCS Federal Credit Union’s Main Office staff for outstanding performance as a Madison County real estate tax payment collector. This GCS office had the fewest errors in the county.

Learn How to Teach Your Kids About Money

As your kids grow older and start asking for more expensive items, it’s essential to teach them proper money management. Consider showing your kids how you manage your household accounts. Watch this video and incorporate some of these financial teaching lessons for your children’s educational benefit and future financial independence.

Many parents teach their children that they deserve the best, which is true, but they may not always be able to afford the most expensive items available. In addition to teaching your child about the value of a dollar and how to use credit, discuss larger issues like investments. A piggy bank and a set allowance are great ways to teach your children how to budget their money, save, and earn more.

To open a child’s savings account, visit GCS Federal Credit Union today. For account information, call us at (618) 797-7993.

GCS Donates to the Granite City APA


In an ongoing effort to support the local community, GCS held a collection for a Granite City animal shelter in need.

Specific goods were collected for the shelter during the month of February at the GCS Main Office located on Maryville Road in Granite City. Members of the community and the credit union, along with employees, were able to contribute many items to make a generous contribution.

The Granite City APA is a nonprofit, no-kill animal shelter located on the outskirts of Granite City. Since the GCAPA receives no city, county or federal assistance, they rely strictly on donations.

To find out more about the Granite City APA or to make a donation, visit gcapa.org.

To find out more about GCS, visit myGCScu.com or call (618) 797-7993.

            Founded in 1941, GCS Federal Credit Union currently has assets of more than $297 million. GCS serves more than 38,000 members throughout Madison and most of St. Clair Counties in Illinois via 7 conveniently located branches, numerous ATM locations, and 24-hour account access through a telephone audio response system and PCU online banking.

Exploring Retirement Savings Options to Secure a Bright Future

Piggy Bank with retirement formula

If you’re looking ahead to your retirement years, it’s important to begin saving now, even if you are a young professional and just started your career. Consider the following retirement savings account options from your local credit union to build a financially secure future for you and your loved ones.

401(k) Savings

A popular savings account option for retirement is the 401(k) savings plan. This savings account allows you to begin saving for your retirement years either as an employee or a business owner. This retirement plan started in the 1980s, focusing on contributions and benefits provided by the wage earner rather than the employer. After every paycheck you receive, you can deposit part of your earnings into your 401(k) retirement fund. This money you deposit reduces your taxable income, as any interest gained by your retirement account is tax-free.


An IRA is an Individual Retirement Account. These types of retirement savings accounts provide tax benefits to the owners or beneficiaries of an IRA. A Roth IRA offers tax-free withdrawals, while a traditional IRA features tax-deductible contributions. An SEP IRA allows your employer to make contributions to your retirement fund as well. The various IRA accounts offered by GCS Federal Credit Union provide multiple benefits. These retirement IRAs feature competitive dividend rates and monthly paid dividends. Many retirement savings accounts often require a minimum balance. At GCS Federal Credit Union, your IRA account requires no minimum balance so you are free to contribute whatever you would like.


For an IRA account, you are required to select a beneficiary to receive your retirement benefits. With an IRA savings account, there are specific tax stipulations that may influence your beneficiary choice. Your inherited assets, such as bank accounts and stocks, are bestowed upon your beneficiary without paying taxes. In order to receive your retirement benefits without paying income tax, your beneficiaries are required to meet specific tax requirements, which vary by state.

In all of your retirement planning, it’s essential to keep thorough documentation of your financial plans and goals. Discuss your current financial state by scheduling an appointment with one of the retirement account experts at GCS Federal Credit Union. Call us today at (618) 797-7993.

Ways You Can Benefit From a Personal Loan

Approved Loan Application on a desktop

Are you contemplating applying for a personal loan for your current financial expenses? If you live in the O’Fallon, Illinois area, visit GCS Federal Credit Union to learn more about your personal loan options, and continue reading for additional information.

  • Credit Reliability

After applying and being approved for a personal loan, you have the opportunity to improve your credit history. Part of the criteria that influences your credit score is your payment history. Maintaining the balance of your personal loan allows you to show your reliability by making payments on time. Paying sizeable installments of your balance in a timely matter shows that you are a responsible borrower, but any amount of payment demonstrates low credit risk.

  • Credit Diversity

If you have only one credit card, applying for a personal loan allows you to diversify your credit. Another important factor that determines your credit score is the diversity of your credit. Applying for an auto loan or other types of personal loans shows that you are a responsible borrower capable of managing varieties of loans. Personal loans can carry a greater risk for credit unions and banks, so being approved and properly managing this type of loan demonstrates your dependability as a borrower.

  • Consolidated Debt

Being approved for a personal loan creates the opportunity for you to consolidate your existing debts. While these types of personal loans tend to have higher interest rates, they are not based on any of your assets, such as your car or home. Instead, a personal loan allows you to consolidate your credit card debt or auto loan balance and improves your cash availability.

  • Loan Flexibility

When applying for a personal loan, you have several options to choose from. At GCS Federal Credit Union, we offer open-end and close-end personal loans. An open-end loan provides you with a constantly revolving line of credit, which gives you access to cash without a reapplication process. Close-end loans have fixed interest rates for up to 48 months and can range from approval for $500 to $15,000.

If you’re interested in applying for a personal loan from the financial professionals at GCS Federal Credit Union, call us today at (618) 797-7993.

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