Scott Credit Union Gives Back Over $1 Million to Its Members

FOR IMMEDIATE RELEASE:

Scott Credit Union Gives Back Over $1 Million to Its Members

Edwardsville, IL ­- December 13, 2023 – ‘Tis the season for giving. Scott Credit Union is once again making spirits bright for its active members. In a longstanding tradition of sharing success with members, the credit union’s volunteer board of directors has approved a bonus dividend and loan interest rebate, returning over $1 million to members just in time for the holiday season.

Frank Padak, President and CEO of Scott Credit Union, expressed Scott Credit Union’s commitment to its members. “This is just one of many advantages of doing business with a member-owned financial cooperative,” said Padak. “As a credit union, we believe in sharing our success with the members we serve. In fact, in the past 16 years, we’ve given back a remarkable $15.4 million to our members through the bonus dividend and loan interest rebate.”

The funds, recently deposited directly into members’ savings accounts, serve as a token of appreciation for their continued loyalty and trust in the credit union. Padak highlighted that SCU has consistently returned a bonus dividend for the past 31 years and a loan interest rebate for the past 16 years.

Reflecting on the financial and economic challenges of the past few years, Padak expressed pride in SCU’s employees and their unwavering dedication to members. “The unwavering commitment of our employees is the bedrock of Scott Credit Union’s enduring financial strength and fiscal resilience. When we do well, the benefits extend to members and communities.”

As the holiday season unfolds, Scott Credit Union reaffirms its commitment to community, gratitude, and shared success. The credit union looks forward to continuing this tradition of giving back in the years to come.

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 24 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 two branches in the Chicago area in Evergreen Park, IL; and at the Jesse Brown VA Medical Center.

For details on opening accounts at Scott Credit Union, visit www.scu.org.

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