Belleville

Business Briefing: Bell Community Credit Union merges with GCS Credit Union

The Board of Directors of Bell Community Credit Union of Alton have announced a merger agreement with GCS Credit Union.

GCS Credit Union is one of the largest credit unions in the metro-east. It was founded in Granite City in 1941 and has since expanded into a full-service financial institution that serves clients in Madison, St. Clair, Jersey, Macoupin, Montgomery, Bond, Clinton, Washington, Randolph, and Monroe counties.

The Bell Community Credit Union was established in 1940 to serve Illinois Bell Telephone employees from Alton to Cairo. BCCU has served as a non-for-profit community-based financial institution.

GCS Credit Union will now have eight branches throughout the metro-east.

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Economists anticipate consumer spending during the holidays will be slower than last year’s pace. According to the National Retail Federation in Washington, D.C., holiday spending will be up 3.7 percent to $630.5 billion, slower than the 4.1 percent increase during November and December 2014. The predicted slowdown would be the first since 2012. Read more here.

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Fewer unemployment benefits were filed across the country for last week. The number of applications fell by 13,000 to a seasonally adjusted 263,000. The nation’s four-week average has also fallen by 8.2 percent over the past year to 267,500. Find out more here.

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Domino’s Pizza is leaving a bad taste with investors after the Ann Arbor, Mich. company’s stock fell sharply in premarket trading Thursday. The pizza chain has reported weak earnings for the third quarter, $37.8 million, or 67 cents per share, and revenue of $484.7 million in the period. Learn more here.

-Will Buss, BND business writer

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