• Make Your Life a Little Less Hectic with GCS

    From family demands to hectic workdays, modern life never slows down. At GCS Credit Union, we know how tough it can be. That is why we do everything we can to make managing your money as convenient as possible.

    This video highlights some of the ways GCS can make your schedule a little easier to bear. With our mobile services, you can transfer money with a few clicks on your smartphone. Use our online services to stay on top of your bills. You can even create and manage a budget from the comfort of home and apply for loans to finance just about anything, including a much-needed vacation.

    At GCS Credit Union, we have a full range of financial services you can access in-person, online, or from your phone. Discover how our  O’Fallon-based credit union  can help you take control of your money by calling (618) 797-7993.

  • Common Reasons Why Individuals Fall Into Credit Card Debt

    Many people discover the hard way that credit card debt is easy to get into and hard to get out of. It may seem like a convenience to pay for purchases with a credit card and worry about the payments later, but that approach can lead to financial hardship in a hurry. If you’re facing credit card debt, it’s important to talk to your credit union and make a manageable plan for repayment. Here are some of the ways people go wrong with plastic:

    Debt

    Not Paying in Full Each Month
    If you carry a monthly balance on your  credit card , chances are you’re charging too much money. Although in some cases credit cards can be used to finance large purchases, like furniture, most people should be paying off their cards each month. A large component of your credit score is your debt-to-credit ratio—how much debt you carry on a credit card versus your credit limit. The closer to maxed out the card is, the worse the impact on your credit score. Financial experts believe that a high debt-to-credit ratio is a sign that a person is living beyond their means.

    Spending on the Wrong Things
    Credit cards are best used for needs, not wants. People who struggle with credit card debt often use their cards for expensive meals and shopping expeditions, not necessary purchases, like car repairs. Seeing credit as a way to afford things you don’t have money for in your checking account is an easy way to slide into debt.

    Paying Bills Late
    Late fees on credit cards can add up in a hurry. The same goes for over-the-limit fees. If you pay late or go over your limit, your interest rate could also skyrocket. Your debt could increase by hundreds of dollars with just a few missteps.

    At GCS Credit Union, we’re here to help you make smart decisions about managing your money. Talk to one of our credit union experts if you’re struggling with debt. We offer  checking accounts , debit cards, and much more to help you take control financially. Find out more about our services by calling our O’Fallon branch at (618) 797-7993.   

  • A Look at the Credit Union Advantage [INFOGRAPHIC]

    You work hard for your money. Don’t you think you deserve to have your money taken care of by a credit union that understands this? Credit unions offer many of the same products and services as traditional banks, including auto loans, savings accounts, checking accounts, and mortgages—but with a number of distinct advantages. Unlike traditional banking institutions, credit unions are not-for-profit and owned by their members. A credit union is run by and for its members rather than for the profit of executives and the board of directors. Check out this infographic from GCS Credit Union, your local O’Fallon, IL credit union , to learn more about the advantages of obtaining auto financing, checking accounts, and more at a credit union. Please share with your friends and family! 

    A-Look-at-the-Credit-Union-Advantage-Infographic-01

  • Our MEMBERS® Auto and Homeowners Program

    The GCS Credit Union in O’Fallon, Illinois is proud to offer a number of services in addition to our loan products, credit cards, debit cards, and savings accounts. By joining a dedicated team of insurance professionals, GCS is now able to offer our members with the MEMBERS®  Auto and Homeowners Program —providing you with the property and casualty coverage you need to protect your financial investments.

    The MEMBERS® Auto and Homeowners Insurance Program features convenient e-services so that you can pay your bill, make changes to your policy, and receive fast access to claims services 24 hours a day. Our online services also make it easy for you to obtain a free, no obligation quote or to locate an agent at the local Liberty Mutual sales office.

    Girl in a car

    Give the GCS Credit Union a call at (618) 797-7993 to learn more about this program. Are you looking for something different?  Check us out online  to learn more about our other loan products and services. 

  • Signs It May Be Time to Apply for a Personal Loan

    Personal loans are a type of product designed to offer individuals with the funds needed to make purchases when savings are not available. Continue reading this article to help determine if it’s time for you to apply for a personal loan with your local credit union.

    Approved the loan application

    Life-Changing Events
    Many individuals turn to personal loans to finance major events in their life, such as a marriage, divorce, or the birth of a child. In some cases, individuals may apply for a personal loan when they want to finance an upcoming vacation or a trip with their family.

    Renovations or Improvements
    While some financial institutions offer home improvement loans, personal loans can also be used to finance renovations or repairs to your current residence. For example, a personal loan may come in handy when you want to upgrade your bathroom fixtures, need to purchase a new air conditioner, or want to make other energy-efficient adjustments.

    Unexpected Bills
    Personal loans are a great way to obtain quick cash when you are facing unexpected bills, including those due to job loss, medical expenses following a personal injury, and payments for vehicle repairs after an accident.

    Wavering Credit Score
    Many people do not realize that obtaining a personal loan can actually do wonders for their credit. Unlike credit cards that allow you to make only minimum payments on your debts while the interest racks up, personal loans require you to make fixed monthly payments, ultimately  improving your credit  rating.

    Are you looking for a personal loan with competitive rates and financing terms? Give the GCS Credit Union a call at (618) 797-7993 for more information on our personal loans, auto loans, and mortgage products. You can also  visit our website  to complete our easy online application, or to find out more about our checking accounts, savings accounts, and investment services. 

  • The GCS MVP Debit Card

    Just like no two credit cards are the same, not all debit cards offer the same features and benefits. In this video, you can learn all about the MVP Debit Card from GCS Credit Union in O’Fallon, Illinois. Obtaining your MVP Debit Card is as easy as opening up a free checking account with GCS—after which point you’ll get great deals like 15 percent off merchandise in Izzy’s Den, and 30 percent on a GCS night! Watch the full clip for more information.

    Start getting rewards and saving money by getting your own MVP debit card. You can also apply for one of our  credit cards  by contacting GCS Credit Union at (318) 219-8600 or by visiting our website. 

  • Tips for Paying Off Your Mortgage Early

    There are two main types of mortgages : fixed-rate mortgages and adjustable-rate mortgages. Fixed-rate mortgages are those in which the interest rate typically stays the same over the entire term, whether that is 15, 20, or 30 years. Adjustable-rate mortgages, on the other hand, usually offer lower initial rates which fluctuate over the life of the loan and may lead to higher loan payments. However, most individuals do not realize that they do have the option of paying off their loan early regardless of whether they have chosen a 15, 20, or 30 year loan. This article will provide several tips to help you pay off your mortgage earlier.

    Mortgage Help

    Make Higher Monthly Payments
    One of the simplest ways to pay off your home loan early is to  make higher payments  each month. Consider going over your budget and seeing if you can tack on an additional 50 to 100 dollars to your payment, as this will not only shorten the length of the loan and reduce your interest, but will also make a dent in your principal.

    Change to Biweekly Payments
    Another way to pay off your mortgage before your term is to switch to biweekly payments. If you consider the fact that there are 52 weeks in a year, and you pay half of your monthly payments every other week—you will end up making 26 half-payments at the end of the year, or the same as 13 full monthly payments. This means that paying biweekly will allow you to overpay by one month at the end of the year, and in doing so, allows you to potentially cut down your mortgage by several years.

    Refinance Your Loan
    Refinancing your current loan is another way to pay off your mortgage early, but only if you can afford higher monthly payments as you are reducing the amount of time you have to pay off the same loan amount.

    For more information on  home loans , mortgage refinancing, or our other loan products, contact GCS Credit Union today at (618) 797-7993. You can also click on the link to visit us at our website. 

  • GCS Credit Union: Cub Club

    Here at GCS Credit Union, we believe it’s never too soon to start saving for your future. That’s why we have the Cub Club for members ages 10 and under. As a member, Cubs can take part in a number of special club events , Youth week, and enter contests for exciting prices. Club members will also receive the quarterly ROCKSTAR SAVER newsletter, which provides helpful tips about money and how credit unions work. The Cub Club is free as long as children are members and open a 5 dollar savings account. Once members reach age 11, their membership will expire, but they will be automatically promoted to the CU Savers club.

    Counting Pennies

    Make sure your child is on the road to financial security by enrolling them in the Cub Club today! Contact  GCS Credit Union  at (618) 797-7993 for more information on the CU Savers club and the Get Mo Green Club for children ages 14 to 18.