FORBES NAMES SCOTT CREDIT UNION AMONG TOP FIVE CREDIT UNIONS IN STATE

Statista surveyed more than 25,000 consumers throughout the country for their opinions on their current and former relationships with financial institutions. Nationwide, 182 credit unions made the final list of the best credit unions in their state. 

Only 3.5% of all credit unions nationwide made the Forbes list, Padak noted.

According to Statista, Americans generally gave their banking institutions good reviews on satisfaction with scores of 4.2 on average on a scale of one to five. Scott Credit Union scored 4.32 on satisfaction.

“We serve members every day. It is really important that we provide them with a great experience,” Padak said. 

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 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.”

The local credit union recently opened its fourth location in Missouri. The new innovative branch is located in Ballpark Village in downtown St. Louis.

Scott Credit Union currently has 19 area locations: Scott Air Force Base, IL; East Belleville, IL; Fairview Heights, IL; Collinsville, IL; O’Fallon, IL; Edwardsville, IL; Waterloo, IL; Highland, IL; West Belleville, IL; Mascoutah, IL; Troy, IL; Wood River, IL; Lebanon, IL; Columbia, IL; Ladue, MO; Crestwood, MO; Ferguson, MO; at Ballpark Village in St. Louis, MO; and its Home Office in Edwardsville, IL.

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