Scott Credit Union Gives Back $1 Million to Its Memberstechknow
FOR IMMEDIATE RELEASE: December 15, 2022
Scott Credit Union Gives Back $1 Million to Its Members
November Bonus Dividend, Loan Interest Rebate Are Benefits of Membership
‘Tis the season. Scott Credit Union’s active members have once again received the gift of extra money in their accounts. This decades-long tradition is sure to spread some holiday joy.
The credit union’s volunteer board of directors approved a bonus dividend and loan interest rebate in November, giving back approximately $1 million to members. The money was directly deposited recently into Scott Credit Union members’ savings accounts.
“This is just one of many advantages of doing business with a member-owned financial cooperative,” said Frank Padak, Scott Credit Union President and CEO. “As a credit union, we believe in sharing our would-be profits with the members we serve. We are truly With You. In fact, in the past 15 years, we’ve given back millions of dollars to our members through the Bonus Dividend and Loan Interest Rebate. We also share our success with our member-owners by offering competitive rates and lower fees than most other financial institutions.”
The credit union has given members a bonus dividend for the past 30 years and a loan interest rebate for the past 15 years, Padak noted.
“Looking at the financial and economic challenges of the past two years, I can say that I am so proud of our employees and their continued dedication to our members. Because of this dedication, our credit union remains a financially strong and fiscally sound institution. When we do well, everyone benefits,” said Padak.
Scott Credit Union is a full-service financial cooperative. When someone opens an account at the credit union, they become a member and an owner. Because of its structure, Scott Credit Union has given back millions of dollars to members through a bonus dividend and loan interest rebate over the years.
Scott Credit Union currently has 25 locations; 22 locations in metro St. Louis including Affton, MO; Ballpark Village in St. Louis, MO; Belleville, IL (two branches); Breese, IL; Collinsville, IL; Columbia, IL; Crestwood, MO; Edwardsville, IL (two branches); Fairview Heights, IL; Ferguson, MO; Highland, IL; Ladue, MO; Lebanon, IL; Mascoutah, IL; O’Fallon, IL; Trenton, IL; Troy, IL; Scott Air Force Base in Illinois; Waterloo, IL; and Wood River, IL; and three branches in the Chicago area in Evergreen Park, IL; Midlothian, IL; and at the Jesse Brown VA Medical Center.
For details on opening accounts at Scott Credit Union, visit www.scu.org.