What Will Happen to My Loved One’s Finances After They Die?

Q: My close relative is getting on in years, and I’ve been wondering: What will happen to their financial accounts and debts after they die?

A: The state of your relative’s finances after their death will vary based on the steps they had taken while they were alive. Here’s what you need to know about what happens to someone’s financial accounts, debts and more after they pass away.

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We’re With You During These Difficult Times

Thursday, April 1, 9:30 a.m.

Dear Members,

Great news: As of today (April 1), our branch lobbies have reopened for normal business hours—no appointment needed!

Scott Credit Union’s highest priority is the health and safety of our employees and members. Now that vaccinations are on the rise and local COVID-19 positivity rates have decreased, we are confident we can serve our members safely within our branches.

While visiting our lobbies, we ask that you please wear a mask for the safety of others. You may be asked to remove or move the mask temporarily for security purposes.

For those who prefer not to enter the branch lobbies, we can still accommodate all your banking needs through our drive-ups, with the exceptions of safe deposit box access and Home Equity Line of Credit closings. Self-service options are available through SCU Online, our mobile app, and MemberLink telephone banking. Also, our Member Contact Center is happy to help answer questions via phone (800-888-4728), live chat, and email.

As always, thank you for being a member of Scott Credit Union. We know you have many choices when it comes to financial services. Please know that we have always been, and will always be, With You.

Frank Padak
President & CEO
Scott Credit Union

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COVID-19 Relief Information

Paycheck Protection Program comes to an early end

May 5, 2021

According to the Small Business Administration, its Paycheck Protection Program has run out of money for most borrowers as of May 4th. Although the program is continuing to fund outstanding approved PPP applications, they are no longer accepting new applications.

Originally intended to end May 31, the program is ending four weeks ahead of schedule. Of the $292 billion allocated by Congress to fund the program, nearly all of that money has been exhausted.

Other SBA relief programs such as the recently implemented Restaurant Revitalization Fund and Shuttered Venues Operators Grant are still available. For more information about these programs, visit the SBA’s COVID-19 relief options page.

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Scott Credit Union announces new Chief Financial Officer and Chief Experience Officer

Scott Credit Union has announced that two of its employees have accepted new roles on its executive team. On April 4, 2021, Scott Peters was promoted to Chief Financial Officer (CFO), and Wendy Erhart became Chief Experience Officer (CXO).

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Spring Clean Your Finances

Spring is a great time of year to clear your house of accumulated junk and make it sparkle. Why not do the same for your finances? Junk can accumulate there, too. In fact, some of your money matters may need a good wipe down this season. It is especially true this year, when many Americans are still recovering from the financial fallout of COVID-19 or maybe wondering how to use the latest round of stimulus checks. Whatever your current situation, a thorough spring-cleaning for your finances is a responsible move this time of year.

Here are some ways to spring clean your finances.

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