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.

Tips for Banking Online


The more you know about using online banking, the more flexibility you’ll have managing your finances. After signing up for online banking through GCS Federal Credit Union, bills will be easier to pay and your account activity even easier to monitor. Check out these useful tips for banking online to get the most out of this service.

Pay Bills Online

You can avoid late fees by accessing and paying your bills all in one place, online. If you need to pay a bill immediately in order to avoid an overdue fee or damage to your credit, you can choose to have the payment expedited. You can also sign up for paperless billing, which is a more eco-friendly way of receiving your bills through email instead of standard mail.

Transfer Easily Between Accounts

You can use your online banking account to transfer funds between accounts. Online transfers allow you to move money to and from your checking and savings accounts. This makes it easy to build up your savings as you receive paychecks or move funds around to make big purchases.  

Practice Safe Banking

Unfortunately, the risk of identity theft is ever-present, so you should be vigilant when it comes to online banking security. Create a strong password for your account. The best passwords are combinations of random numbers and letters and not your birthday or phone number. For added protection, update your firewall, install anti-virus software, and clear your browser history regularly. Be careful of fake emails claiming to be from your credit union.  

Keep Track of Your Account Activity

With online banking, you won’t have to wait for your statement to arrive in the mail to track your account activity. You can check it whenever you want, day or night. You can also print out your statement or save it to your computer for your records.

Online banking from GCS Federal Credit Union, serving O'Fallon, gives you the tools to manage your finances conveniently. We also offer financing programs for auto loans. Call us today at (618) 797-7993 for more information about our membership services.

Understanding How Money Market Accounts Work

Couple meeting with financial advisor.

Money market accounts can grow your money. Account holders often use these accounts in place of or in addition to a savings account because they earn a solid rate of return often greater than that earned from a savings account. Read below if you want to know more about how a money market account from GCS Federal Credit Union works.

Deposited Funds Earn Interest

A minimum initial deposit of $2,500 will earn interest just like a savings account. The difference is that yield is higher and you can still use the account like a checking account, with some limitations.

Different Tiers Receive Different Rates

Generally, the greater the balance you maintain, the more dividends you’ll receive at a better rate. There are three tiers of account balances:

  • Tier 1 balances are between $2,500 and $9,999.99.
  • Tier 2 is $10,000 to $24,999.99.
  • Tier 3 is anything $25,000 or greater.

The more you regularly deposit into your money market account, the more you will earn in interest.

The Credit Union also Benefits from Money Market Accounts

In exchange for these higher yields, the credit union uses this pool of money from several money market account holders to make loans at an interest rate that covers your yield. Each account holder’s funds are insured up to $250,000 by the National Credit Union Administration (NCUA).

Account Holders Receive Dividends

Dividends are compounded at the end of each month. On the last day of the month, your account is credited with the dividend.

Some Transaction Limitations Do Apply

As with a checking account, there are transaction limitations. Money market account holders can make six withdrawals during any month. Of these six, three may be made in the form of a check. Checks have to be written in amounts of $300 or greater.

All accounts at GCS Federal Credit Union, including money market accounts, are insured by the NCUA. If you’re interested in a new checking account, an auto loan, or a higher-yielding alternative to a savings account, call us today at (618) 797-7993.

GCS Awards Nicole R. Thorp Scholarship

GCS Federal Credit Union has recently awarded the $1,500 Nicole R. Thorp Scholarship.

Amanda Cornell of Staunton High School was this year’s recipient of the Nicole R. Thorp Scholarship. GCS was looking for applicants who actively volunteer in the community.  Nicole R. Thorp, who the scholarship is now named after, was a big believer in helping out where needed. 

Candidates were also required to submit an essay explaining why saving and budgeting are important habits to develop.  GCS tries to guide youth in developing and reaching savings goals and wanted to hear how its teens have succeeded.

GCS wishes Amanda the best of luck in the future.

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 President/CEO, Mark Holshouser & Amanda Cornell

Learn More About Saving Money and Online Banking with These Resources

Woman Shopping Online

A credit union’s first priority is its members. Check out these links about money, savings, online banking, and why your money might be better off with a credit union. 

  • More and more consumers are realizing the benefits of a credit union over a bank. Check out this article from MSN Money to see why converts are praising credit unions.
  • See why credit unions choose service over profits.
  • If you’re looking to be more eco-friendly, even when banking, check out these green banking tips for environmentally conscious consumers.
  • Paying bills online or through your online banking account has its advantages. Find out what they are by checking out this link from LiveStrong.com.
  • If you have a teen who is planning on taking up a summer job, teach him or her about the importance of saving money early. This article from Better Parenting has some tips.

GCS Federal Credit Union accepts membership from residents of the Illinois counties of Madison and most of St. Clair. If you’re looking for something that’s better than a bank, give us a call at (618) 797-7993.

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