Forbes names Scott Credit Union among top three credit unions in state
EDWARDSVILLE, IL (July 30, 2018) — Scott Credit Union was recently named one of the top credit unions in the State of Illinois in a Forbes Best-In-State ranking.
Forbes, in partnership with market research firm Statista, ranked Scott Credit Union third in the state based on surveys of credit union members on their overall satisfaction.
The survey also measured trust, terms and conditions, branch services, digital services, and financial advice, according to Scott Credit Union President & CEO Frank Padak.
“We were very pleased and honored to be in the top three in the state,” Padak added. “The scores given by Statista ranged from 40 to 95.4. We scored 82.09 based on their criteria. We are always focused on doing the right thing for our members. The score tells us we are on the right track.”
Statista surveyed more than 25,000 consumers throughout the country for their opinions on their current and former relationships with financial institutions. Nationwide, 145 credit unions made the final list of the best credit unions in their state. The average score among credit unions was 80, Padak added.
Scott Credit Union was also recently one of 50 mid-size companies recognized as a St. Louis Post Dispatch Top Workplace annual competition.
“It is an honor to receive that recognition seven straight years,” Padak said “We understand that having employees that enjoy their workplace translates to better service to our members.”
This year was the first-ever Forbes Best-In-State Banks and Credit Unions ranking.
In a service industry, Padak understands the importance of having positive and satisfied employees. He believes the effort to be a top workplace led to SCU being a top tier credit union in the Forbes study.
“We serve members every day. It is really important that our people enjoy working here and can pass their positive attitude along to our members in the experience that they provide them,” he said.
Scott Credit Union has continued to be successful with membership growth, asset growth and strong loan volume over the past few years.
Scott Credit Union recently announced that it will open its first St. Louis County branch late this summer at the corner of I-170 and Ladue Road. The local credit union also has announced that it will open a location in Columbia, IL, late this year.
As a not-for-profit cooperative, Scott Credit Union returns its profits to members in dividends while helping them avoid fees and get better rates. The credit union also uses its earnings to provide expanded services and convenient branches and ATMs to its members.
“Credit unions are a better value than most financial institutions and we have really been getting the message out that people can save money by doing business with us,” Padak added.
Because of its not-for-profit structure, Scott Credit Union has given over $10 million back to members in the past 10 years.
About Scott Credit Union
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 nearly $13 million to members through a bonus dividend and loan interest rebate over the past 13 years.
Scott Credit Union currently has 20 area locations: Affton, MO; Ballpark Village in St. Louis, MO; Belleville, IL (two branches); 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; Troy, IL; Scott Air Force Base in Illinois; Waterloo, IL; and Wood River, IL.
For details on career opportunities at Scott Credit Union, visit www.scu.org/careers