Scott Credit Union Spreads Financial Cheer, Gives Back Over $1 Million to Its Members

Scott Credit Union Spreads Financial Cheer, Gives Back Over $1 Million to Its Members 
 
 Edwardsville, IL – December 9, 2024 – Just in time for the holiday season, Scott Credit Union (SCU) is spreading financial cheer by giving back over $1 million to its members. The credit union's volunteer board of directors has approved this year’s Bonus Dividend and Loan Interest Rebate, reinforcing SCU’s commitment to its members and the cooperative financial model. 
 
Frank Padak, President and CEO of Scott Credit Union, highlighted the credit union’s dedication to its members. “At Scott Credit Union, our members are at the heart of everything we do,” said Padak. “This giveback exemplifies the cooperative spirit that defines us, ensuring that when SCU succeeds, our members share in that success. Over the past 17 years, we’ve proudly returned more than $16.4 million through the Bonus Dividend and Loan Interest Rebate programs.” 
 
The funds, deposited directly into members' savings accounts, are a tangible thank-you for their trust and loyalty. Over the last 32 years, SCU has consistently delivered a Bonus Dividend, and for the past 17 years, the credit union has also issued a Loan Interest Rebate. These programs reflect the institution's lasting financial stability and unwavering commitment to prioritizing its members. 
 
“In today’s economic climate, it’s more important than ever to demonstrate the value of being part of a member-owned financial cooperative,” Padak continued. “Our members’ success is our success, and this annual giveback is just one way we fulfill our mission to make an impact in their lives and communities.” 
  
Padak also credited the SCU team for their dedication to delivering exceptional service and financial solutions to members. “The hard work of our employees enables us to achieve the fiscal resilience needed to return value directly to our members year after year,” he said. 
 
Beyond the bonus dividend and loan rebate, SCU demonstrates its commitment to the community by reinvesting in meaningful ways. This year alone, SCU contributed nearly $250,000 to schools and local initiatives through the With You Grants program and KMOV Surprise Squad partnership. Additionally, SCU has completed 87 acts of kindness in 2024, supporting local food pantries, animal rescue organizations, and military-focused causes. 
 
As the holidays approach, Scott Credit Union celebrates the cooperative principles of gratitude, shared prosperity, and community impact. With the bonus dividend and loan rebate programs, SCU reinforces its unwavering commitment to providing exceptional value to its members. 
 
For more information about Scott Credit Union’s Bonus Dividend and Loan Interest Rebate, or to learn about membership benefits, visit scu.org. 
 
 
 
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.