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.

Used Cars Are Not Always The Best Option

Pretty girl in a car

America’s car-buying market is anything but typical these days. Some conventional wisdom no longer applies as unique circumstances have turned the vehicle marketplace on its head.

Usually, buying a used car is cheaper than buying its new counterpart. But in recent years used cars have been in very high demand, pushing prices up. High demand, combined with a rise in the popularity of leasing and a scarcity of new Japanese vehicles due to disrupted production since the 2011 earthquake and tsunami there, means that some low-mileage used cars cost almost as much as, if not more than, new cars.

To navigate the changed marketplace, take these steps along with your traditional prepurchase homework:

* Compare new prices vs. used. In some cases, a new car actually costs less than the used version, or the price difference is so negligible that you will prefer the new car. Use resources like Edmunds.com and Kelley Blue Book (kbb.com) to value the cars, or ask a [name credit union] loan officer for help. Remember to factor in how financing and depreciation will affect car values.

* Consider trading in your current vehicle. In the past, the general rule was that you make more by selling your car privately than by trading it in. Now, with used cars in demand, dealers are offering top dollar for trade-ins, especially for desirable models in great condition and with low mileage. That tightens the dollar gap between trading in a vehicle and selling it yourself, which involves more hassle.

* Lean toward Detroit brands for used models. It used to be that American cars earned their tarnished reputation when compared with Japanese counterparts, but Detroit cars have improved steadily over the past decade. In recent years, some Ford Motor Co. and General Motors Corp. vehicles have even outscored Toyota and Honda in Consumer Reports assessments.

We can use loan valuation tools to help you determine if an asking price is fair, and we can provide a new- or used-car loan to help seal the transaction. Talk to a GCS Federal Credit Union member service representative about your next car.

Copyright 2012 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.

Plan Your Finances and Prepare For Your Future With Help From These Resources!

Couple doing paperwork with a laptop

Planning your finances and preparing for the future can be a challenge. At GCS Federal Credit Union, we give personal care to each of our members so you can start putting your plans into action. Call (618) 797-7993 and explore these related resources to learn more about the advantages of banking at GCS.

  • If you’re interested in learning more about how your small business can use online banking, check out this link.
  • To learn more about setting up online bill pay, read this article from About.com’s Banking and Loans website.
  • BankRate.com explains the advantages of getting an auto loan through a credit union.
  • To learn more about how your credit score is calculated, read this article from ABC News.
  • CarsDirect offers tips on getting the best auto loan rates available from your local credit union.


Benefits of Online Banking

Woman sitting on the sofa using laptop

Frequent trips to your local credit union will be a thing of the past with online banking. GCS Federal Credit Union’s new online system is easy to use and offers more options than ever before. Quick transfers, comprehensive money management, and even access by telephone are all now available. Of course, if you still need any help, our friendly staff is available to assist you at any of our O’Fallon-area locations.

Save Time

With online banking, you don’t have to make a trip to the credit union every time you want to make a change to your accounts. You have access to your accounts and records 24/7, so you can check on your finances anytime you need. You can also check your accounts from anywhere; even if you’re out of town, state, or country, you have the ability to bank conveniently.

Help the Environment

Online banking has severely reduced the amount of paper waste banks and credit unions produce. With options to receive online statements and pay your bills through your online account, even as an individual, you will notice reduced paper waste. You will also save on gas when you bank online, as you will rarely have to make the trip to the credit union.

Manage Bill Pay

Your online account allows you to pay all of your bills online. You can set up automatic payments or due-date notifications so you don’t have to worry about when your bills are due. With online bill pay, everything is in one location, so it’s easier to manage your accounts and keep your bills organized.

If you haven’t made the switch to online banking, you will be amazed at the convenience it offers. At GCS Federal Credit Union, we just updated our online banking system to make your life easier and give you access to more tools. Call us today at (618) 797-7993 for more information.

A Look at Our Online Banking Resources

woman holding blank touch screen device

With GCS Federal Credit Union’s newly updated online banking tools at your disposal, the capabilities of your online banking account are almost limitless. We have made GCS’s online system easier and more efficient. We only hope you don’t forget to stop by your local O’Fallon-area credit union branch to visit from time to time.

  • Total Money Manager: Our Total Money Manager is a tool for keeping your finances in order, managing your budget, and controlling your savings. This online feature keeps all the information you need for successful financial planning in one place and displays your information in a way that’s easy to understand.
  • BillPay: Worrying about bills is a thing of the past with GCS Federal Credit Union’s online BillPay program. Manage all of your payments in one place and link your bills to your account for automatic, on-time payments. By always paying your bills on time, you can easily raise your credit score.
  • Direct Deposit: Manage your direct deposit payments easily through our online system. You can confirm you’ve received your paycheck or other funds on time instantly through our online banking system.
  • Account Changes: Any changes you need to make to your account, from transferring funds to updating your current mailing address, can now be done at your convenience through our online banking system.
  • Loan Application: If you’re ready to apply for an auto, personal, or home loan, you can start the pre-approval process online through GCS’s easy and secure website. By doing so, you will have more available time to gather the information you need to get loan approval quickly.

If you’re still doing all of your banking in your O’Fallon-area credit union branch, consider trying our convenient online banking system. We have made our online banking as simple and user-friendly as possible, so you will master its many resources in no time. Call (618) 797-7993 today for more information.

Does Your Bank Love You?

There is a difference between investing your money at a bank and investing with a credit union. Credit unions are non-profit businesses that are member-owned and controlled. Members who deposit money in the union are joint owners in the company. Credit unions return their profit to members in the form of lower interest rates, higher savings rates, and free services.

This video offers a clever look at the differences between what banks and credit unions do for their customers. You’ll soon understand why people are choosing to invest in their local credit unions rather than corporate banks that only look out for their stockholders.

At GCS Federal Credit Union in O’Fallon, Illinois, we have been serving our members since 1941. Call us today at (618) 797-7993 to learn more about what joining a credit union can do for you. 

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