Scott Credit Union, a $1.2 billion-asset institution based in Edwardsville, Ill., on Monday said it has been approved to add two counties in Missouri to its existing field of membership.
Consumers who live or work in St. Louis City County and St. Charles County are now eligible to join. Scott Credit Union already operated in Missouri’s St. Louis County, which does not include the city of St. Louis. Membership also is open to those who live or work in a 26-county area in Illinois, plus any active or retired members of the U.S. military.
“We welcome the residents in the three Missouri counties to see why we are a great money-saving alternative,” Frank Padak, Scott CU’s president and CEO, said in a statement. “We have opened branches in Ladue and Crestwood in St. Louis County, and now we have added the two additional counties on the Missouri side of the river. We are excited about the opportunities the Missouri market offers us for growth. We are growing, adding branches, have launched a new high-rate checking account, and now are able to serve even more people. It’s an exciting time to be part of Scott Credit Union.”
The CU added it has given back $11 million to its members through a bonus dividend and loan interest rebate over the past 11 years. More than $570,000 was returned to members for 2018, on the heels of
In its most recent call report, SCU said it earned more than $11 million in net income last year, following $9.7 million in 2017. As of Dec. 31, 2018, its net worth ratio was 9.72 percent (“well capitalized”).
