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.

Keep Track of Your Finances with this Virtual Envelope App

Budgeting and managing your money is essential, especially in today’s ever-changing economy.

Available for Android devices, the new Easy Envelop Budget Aid is an ad-free app that allows you to track your finances, set up bill reminders, compares recurring expenses, import bank account statements, and can even check balances on the go. Complete with 10 regular budgeting envelopes and 10 annual or irregular envelopes, this app offers a great way to stay on top of your finances. Download yours today!

News Applications on Iphone 4

For more information on opening up a checking account, creating a savings account, or obtaining a credit card, call GCS Federal Credit Union, located in O'Fallon, IL., at (618) 797-7993. 

First-Time Homebuyer Mortgage FAQ


Applying for your first mortgage or home loan does not need to be a complicated task. Check out this overview for answers to the most frequently asked questions regarding first-time home buying and mortgages.

What Should I Do About Current Debts?

Many first-time homebuyers make the mistake of only focusing on saving up for the down-payment rather than paying off existing debts. Instead, consider eliminating your high-interest consumer and credit card debts before applying for a mortgage; doing so will provide you with a lower down-payment percentage.

How Much Can I Afford?

The best way to determine how much you can afford is to create a budget and analyze your financial situation. Consider checking out the current mortgage rates and researching the required down payment and closing costs to get a better idea of how much you’ll need to save. You may also consider getting pre-approved for a loan, which will help you determine how much money you qualify for and which homes are within your price range.

What Are the Different Types of Loans?

The most common types of loans include:

· Fixed-rate mortgages: This type of mortgage offers an interest rate that stays the same over the entire term, which typically lasts 15 to 30 years. 

· Adjustable-rate mortgages: ARMs offer lower initial interest rates but fluctuate over the term of the loan, meaning that when interest rates rise, the loan payments also rise.

· Balloon mortgages: A balloon mortgage is similar to a fixed-rate mortgage, with lower payments for a fixed period of time. After this period, the entire loan balance is due.

· Interest-only mortgages: Homeowners only pay the interest each month for a fixed term when they select interest-only mortgages.

How Can I Apply for a Mortgage?

While you can send in written applications, our credit union offers online applications for various types of mortgages. This is very beneficial, as it allows you to easily check on the status of your application.

Let the mortgage representatives with GCS Federal Credit Union help you choose the best mortgage for your needs by calling (618) 797-7993. We also offer auto loans and checking accounts, among other financial services for the greater O’Fallon area.

GCS Hosts Food Drives!


GCS Federal Credit Union will be hosting local food drives at their Granite City Main Office and Collinsville locations.

June 4 through July 16, credit union and community members are encouraged to donate a canned good or nonperishable item to support their local community.

All donations at the GCS Granite City location will benefit the Granite City Community Care Center.

All donations at the GCS Collinsville location will benefit Collinsville, Maryville and Troy food pantries, as part of the 5th Annual Bank to Bank Food Drive.

For more information about GCS, visit myGCScu.com.

Founded in 1941, GCS Federal Credit Union currently has assets of more than $312 million. GCS serves more than 39,000 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.

GCS Sponsors Movie Nights!


GCS Federal Credit Union will sponsor three movie nights this summer at Granite City Wilson Park.

Everyone is invited out to join GCS under the stars for an evening movie on Sykes Field. Movie nights are FREE and start at dusk. Bring the lawn chairs, blankets and snacks for a night of family fun.

2012 movie night dates:

  • June 8th showing: The Muppets
  • July 13th showing: Puss in Boots
  • August 10th showing: Voter’s Choice

For more information, visit myGCScu.com or call 618-797-7993.

Founded in 1941, GCS Federal Credit Union currently has assets of more than $312 million. GCS serves more than 39,000 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.

Mortgage Rates: Why Now is the Time to Buy

Mortgage Loan Application


Most prospective homebuyers have put off applying for mortgage loans during recent years due to increasingly high mortgage rates and an unstable housing market. However, as of May 2012, the average rates for 15- and 30-year mortgage loans fell to historically low levels, making home-buying easier for individuals who qualify. Continue reading for more information on why now is the time to buy a mortgage loan with your O’Fallon credit union, GCS Federal Credit Union.

All-Time Low Rates

The current interest rates for 30-year mortgages have been steadily dropping over the past few months. In fact, the mortgage rate for 30-year fixed mortgages dropped from 4.05% to 3.97% over a two-week period this May alone. Similarly, 15-year fixed rate mortgages have also been at record lows with an interest rate of 3.2%. 

Worldwide Market Shifts

A recent article published by Mortgage News Daily attributes the declining interest rates to the political turmoil currently taking place in Europe. The article states that because mortgage rates are relatively removed from the current situation in Europe, this indirectly increases the interest rates in weaker countries while lowering the rates in stronger countries.  This not only makes it easier for first-time homebuyers to obtain a mortgage, but also offers substantially lower rates for individuals interested in refinancing their current loans.

GCS Federal Credit Union has been providing mortgage loans, auto loans, checking accounts, and debit cards to O’Fallon, IL residents for the past 70 years. Our credit union accepts membership from anyone who lives, works, attends school, or practices religion in Madison and most of St. Clair counties. While we’re large enough to offer ultimate convenience, our credit union is also small enough to provide the individually tailored financial services and products you need. For more information on mortgage rates and other loans, contact us online or call (618) 797-7993.

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  • 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