We’re With You During These Difficult Times

Wednesday, August 19, 2:00 p.m.

Dear Members,

Out of an abundance of caution, all SCU lobbies will be open by appointment only beginning Friday, August 21. Please remember that we can accommodate most of your needs through our branch drive-ups.

Book Your Appointments Online
You can make an appointment to meet with one of our representatives at any of our branches. Click here to schedule your appointment online.

While you are inside our branch lobbies, you will be asked to follow these precautions:

  • We will be encouraging social distancing
  • You will be required to wear a face mask
  • You may be asked to temporarily remove your mask so we can identify you

While this is a difficult decision for us to make, our top priority during the COVID-19 pandemic remains the safety of our employees and members while continuing to provide essential services.

You can access your accounts using our free online and mobile banking services, and you can apply for a loan and open new accounts through our website at scu.org.

We appreciate your patience as we navigate changes due to the pandemic.

As always, thank you choosing to be 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

Also see our COVID-19 Resources page

Read More

All You Need to Know About Buying a Used Car

Buying a previously owned vehicle can be a great way to save big on one of your most valuable possessions. If you’re shopping for an amazing deal on wheels, you want to be one of those buyers who walks home thrilled with their new car.

Follow these nine steps when buying a used car.

Read More

All You Need to Know About Selling Your Home During COVID-19

Selling a home is a move people generally plan years in advance, and 2020 was no different. For many homeowners, the hot real estate market of spring and summer of 2020 was going to be the season they put their homes up for sale. And then came the coronavirus – and the world turned upside down. With people struggling just to get by financially, and health and safety paramount, selling a home seemed like a dream from another lifetime. Records of home sales in the U.S. from the beginning of the outbreak reflect these feelings, with a sharp decline of 21% in total homes sold in March, and another decrease of 17.8% in April, according to data from the National Association of Realtors (NAR).

Read More

SCU Family Mourns the Loss of Betty Renth

Betty Renth, Scott Credit Union Board Chair

The Scott Credit Union family is mourning the loss of former long-term Board Chair Betty Renth, who passed away on August 31, 2020. A resident of New Baden, Betty retired from the SCU Board of Directors in 2016 after serving as a Director and Chairman of the Board for over 60 years. She began her volunteer service in 1955, assuming the role of Board Chair in 1971. Betty was a driving force in the credit union’s growth and development over that time.

Scott Credit Union President & CEO Frank Padak had the following comments to say about Betty’s profound impact on the credit union:

It is with great sadness that we are mourning the loss of someone who played an iconic role in our success for six decades. It’s hard to put into words the impact that Betty had on Scott Credit Union over her years of volunteer service. Betty was a tough but fair leader who never flinched when confronted with an issue and never backed down. If there was a point to be made, she made it. If there was an argument to be had, she jumped in headfirst. As tough as she was, she was also very fair and reasonable. All too often people make decisions based upon their own experiences, needs, or expectations. Betty always knew that it wasn’t about her and what she needed or expected, but that it was about our members.

As times changed- and during her 60 plus years they changed a lot- so did Betty. Just the change in technology and how we deliver our services could have easily been overwhelming. But Betty always accepted that technology and how we do business was evolving and she embraced and supported those changes. Although it might have been almost foreign and certainly uncomfortable, she knew our members would benefit from these strategic decisions.

Betty was an inspiration, a mentor and friend to many people over the years here at Scott Credit Union. She truly defined the excellence we want Scott Credit Union to achieve each and every day.

Betty received national and state recognition for her dedication and service to SCU and the credit union industry. Starting in 1988, she served two three-year terms on the Board of Directors of the National Association of Credit Union Chairmen. In 1997, Betty was awarded the Spirit of Service Award and named Volunteer of the Year by the Illinois Credit Union System. She was inducted into the Illinois Credit Union Hall of Fame in 2002.

In 2005, Betty was honored during the national annual convention of the National Center for Credit Unions as a second runner up for the Director of the Year Award. The award was a national contest to acknowledge the work of the top three credit union directors in the nation. In 2006, Betty was inducted into the Defense Credit Union Council Hall of Honor. The Hall of Honor was established to acknowledging individuals whose exceptional contributions over the years have made a significant difference in the defense credit union community.

In 2008, Renth was inducted into Who’s Who in America’s Credit Unions. She was honored among the top leaders for her accomplishments and service in the credit union industry. Who’s Who in America’s Credit Unions annually recognizes those who have contributed most to the nation’s credit union movement.

In 2012, Scott Credit Union’s state-of-the-art Home Office building was named the Betty Renth Building. Upon her retirement in 2016, Betty was presented with a lifetime achievement award to mark her years of service as a leader, in addition to being elected as an Emeritus Director of Scott Credit Union’s Board.

Betty’s service to Scott Credit Union set a standard of excellence and dedication that will likely be unmatched. We were extremely fortunate to have Betty as a leader in our organization.

Snowball Method vs. Avalanche Method: What’s the Best Way to Tackle Debt?

Debt is the ultimate killjoy. It can destroy a budget, make long-term financial planning impossible, and shadow every purchase you make with guilt. No one wants to live with that debt burden. But how do you kiss your debt goodbye?

Crawling out from under this mountain won’t be easy, but if you’re ready to realign your priorities and do what it takes, you can shake off debt no matter how large.

Let’s take a look at two popular approaches for paying down debt and explore the pros and cons of each.

Read More