Scott Credit Union's Lebanon branch celebrates its ribbon cutting

Scott Credit Union Marks Opening of Lebanon Branch with a Ribbon Cutting

The newest Illinois branch is located at 101 E. Schuetz Street

A small group of representatives from Scott Credit Union and the Lebanon, Illinois, Chamber of Commerce met recently to cut the ribbon to mark the opening of SCU’s newest Illinois branch.

The credit union, with headquarters in Edwardsville, IL, recently opened a full-service location at 101 E. Schuetz Street (Route 4) in Lebanon, Illinois.

Lebanon is SCU’s 19th branch

The newest SCU location, which was a former bank building, is 3,840 square feet and features a traditional teller line in the lobby and two drive-up teller windows. The location has a drive-up ATM.

“Despite the pandemic, we wanted to mark the opening of the branch with a small ceremony. We are really excited to better serve people in Lebanon and those traveling to and from Scott Air Force Base,” said Scott Credit Union President & CEO Frank Padak. “This marks our commitment to serving the Illinois market. We are pleased to be adding our 19th branch and our 15th in Illinois.”

The new Lebanon Branch is part of Scott Credit Union’s strategic growth plan, which includes adding branches to better serve members in Illinois, Padak added.

Convenient locations are key

“We want to be convenient so our 145,000 members can take advantage of the value we offer,” he said. “We welcome the residents in Lebanon and the area around it to see why we are a great money-saving alternative.”

Scott Credit Union is a not-for-profit financial cooperative. When people open accounts at the credit union, they become a member and an owner. Because of its not-for-profit structure, Scott Credit Union has given $12 million back to members through a bonus dividend and loan interest rebate over the past 12 years. In November of 2019, the local credit union gave over $1 million back to its members.

“Our cooperative structure is really the best for consumers,” Padak added. “We don’t answer to a small group of stockholders. We answer to our members. Because of that structure, we pay more on our members’ savings, charge less when they need to borrow and keep fees low.”

Scott Credit Union currently has 19 locations in Illinois and Missouri.