• How Often Should I Check My Bank Statements?

    One of the easiest and most effective things you can do to stay in control of your finances is to check your bank statements regularly. Checking your statements is easier than ever, thanks to online banking, which gives you access from anywhere. But how often is enough—or how much is too much?

    Although there is no set answer that works for everyone, financial experts recommend checking your account frequently. By doing so, you have the opportunity to catch errors that may occur before they cause a more significant impact. You may also find that checking your accounts regularly provides motivation as you work towards your financial goals.

    GCS Credit Union offers convenient online banking in O’Fallon , so you can easily manage all of your savings and checking accounts in one place. Is membership in our credit union right for you? Find out more about our financial services and membership requirements by calling (618) 797-7993.

  • How Often Should I Check My Bank Statements?

    One of the easiest and most effective things you can do to stay in control of your finances is to check your bank statements regularly. Checking your statements is easier than ever, thanks to online banking, which gives you access from anywhere. But how often is enough—or how much is too much?

    Although there is no set answer that works for everyone, financial experts recommend checking your account frequently. By doing so, you have the opportunity to catch errors that may occur before they cause a more significant impact. You may also find that checking your accounts regularly provides motivation as you work towards your financial goals.

    GCS Credit Union offers convenient online banking in O’Fallon , so you can easily manage all of your savings and checking accounts in one place. Is membership in our credit union right for you? Find out more about our financial services and membership requirements by calling (618) 797-7993.

  • Credit Card Consolidation: What to Know and What to Do

    If your credit card balances feel overwhelming, consolidation could help you get a fresh start. Consolidation lets you pay off your existing debts with a loan, so that you are left with only one payment to make each month, often with a lower interest rate than your credit card accounts. However, credit card consolidation is not the right solution for everyone. Your credit union can help you understand how this option might work for you. This information will also help you consider your options.

    What is exactly is credit card consolidation?

    Credit card consolidation involves using a debt consolidation loan to pay off your credit card balances. After those cards are paid off, you will only have your monthly payment for your loan to worry about. If you have a significant amount of debt across multiple credit card accounts, consolidating those balances into a single loan can greatly simplify your repayment efforts.

    What are the benefits?

    Consolidating your credit card balances is convenient. It removes the risk of forgetting a payment because of multiple due dates. With consolidation, there is only one due date, which is more convenient. However, the biggest benefit of consolidating your credit card debt is that it can save you money. With a competitive rate on your debt consolidation loan from your credit union, you will save money that you would have spent on interest on your credit card accounts.

    Who should not consider consolidation?

    Consolidation is only helpful if you can commit to not using your credit cards after you pay them off. Using your cards again will leave you with both the loan payment and new credit card payments due each month. Working with your credit union on a debt management plan can help you maximize the benefits of debt consolidation.

    To find out if a debt consolidation loan is right for you, contact GCS Credit Union today. All of our loan decisions are made with member-first service in mind with local processing. Call our credit union in O’Fallon today at (618) 797-7993.

  • Start Saving Now & Make Next Christmas Easier

    You may think Christmas is the most wonderful time of the year, but your finances may disagree. Holiday expenses can build up quickly, from presents to decorations to travel, and many people find themselves starting out a new year facing a large amount of debt. Fortunately, it doesn’t have to be that way. By adding money to a credit union savings account throughout the year, you can be ready for holiday spending without having to accrue additional debt. Follow this advice for year-round Christmas savings.

    Open a Christmas Club Savings Account

    At GCS Credit Union, our Christmas Club savings accounts make holiday planning easy. There is no minimum balance or monthly fees. Simply deposit money into the account throughout the year as you wish and take advantage of the competitive interest rate to help your money grow. You can even set up a direct deposit into the account from each paycheck to help your put aside more money. The account automatically reaches maturity on October 15, when the balance will be transferred into your checking account. There is no penalty for early withdrawal, if you happen to need your money for other expenses or want to start shopping early.

    Choose a Savings Target

    After the holidays, consider sitting down and evaluating your expenses. Decide if you overspent, hit an ideal amount, or wish you had spent a little more in some areas. This evaluation will help you set a target for your savings account for the next season. Even if it may not be practical for you to save the full amount before the season begins, having a target that will allow you to come out of Christmas without debt can be a good starting point.

    Take Advantage of Direct Debit

    Set up a direct debit from your checking account into your savings throughout the year. Even transferring a small amount of each check will allow your balance to build up quickly, and when the transfer happens automatically, you won’t be tempted to skip it.

    Christmas Club accounts are just one of the many ways GCS Credit Union in O’Fallon can help you take control of your finances. Call us today at (618) 797-7993 to learn more about credit union membership.

  • Should I Repair or Replace My Old Car?

    When you have an old car in need of repairs, you have a decision to make between fixing the car or reaching out to your credit union for a new auto loan. What is the right choice for you? This video will help you decide.

    You generally shouldn’t pump more money into a car than what it is worth. Although small repairs are part of car ownership, you may need to consider an auto loan for a new car when the cost of repairs is not a smart investment.

    With the competitive rates for auto loans at GCS Credit Union , you’ll be able to get a payment that fits your budget. To learn more, contact our credit union in O’Fallon today at (618) 797-7993.