Gale Credit Union Meeting
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Frequently Asked Questions & Answers

Staying informed and understanding your financial options with Gale Credit Union is important to us.  At any time, if you have a question not answered below, please contact us.


Q. Why is a credit union better from a bank?

A. A credit union is owned by all of the Members where as a bank is typically owned by a few very wealthy owners.  A credit union gives back to our Members in the form of lower loan rates, higher deposit dividends, and lower fees.  A bank takes from the customers and gives to the few owners.  All of our decisions are based on serving our owners, you the Members.  Check out these short video clips.  There are many way reasons, but who we serve is the key difference.

Membership & Accounts Related

Q.  How do I become a Member of Gale Credit Union?    

A. Gale Credit Union Membership is now open for those who live or work in Knox, Warren, Henderson, Mercer, Henry, Stark, Peoria, Woodford, Tazewell, or Mason Counties in IL. Check out our Membership page for all the information you need to join Gale Credit Union.

Q.  How much NCUA insurance coverage do I have at each branch office?
A.  NCUA provides up to $250,000 of insuance coverage, per their regulations.  Even though some of our branches operate under a different name, they are all a Division of Gale Credit Union, so the aggregate you have on deposit at all of our branches is covered up to $250,000 total.

Q.  I currently have my accounts at another financial institution and it seems to hard to move them to Gale Credit Union.  What can I do?
A.  Our staff can provide you with assistance to coordinate your move.  First, come see us to open your new accounts and then we will help you gradually fade out the use of your existing account.
Q.  My Debit Card currently has a low limit for daily purchases.  Why is there a limit on my card?
A.  All Debit Cards have a daily limit for your protection against fraud.  If your card was lost or stolen, a criminal can go on a shopping spree and clean out your account.  However, with a limit on your card, the criminal is limited to that amount which in turn limits your liability from fraud.

Loan Related

Q:  When I purchased my new auto, my loan ended up at another financial institution.  Can I move it to Gale Credit Union?     

A.  Yes, if you qualify for a loan with us, we will assist you in sending the payoff amount to the other institution and retrieving the title properly to secure our lien.  Our Loan Officers perform this everyday as many of our members move their loans here to take advantage of the great rates.  Next time, just tell the auto dealer - Gale Credit Union!

Q.  Do you offer mortgage loans?
A.  Yes, we offer mortgage loans for purchase transaction and refinances and offer all kinds of mortgage loans, including home equity lines of credit.