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SCU President Frank Padak Named To St. Louis Federal Reserve Bank Council
Advisory Council Advises St. Louis Fed President On Issues
St. Louis, MO (January 29, 2013) – Scott Credit Union President & CEO Frank Padak has been selected to serve a three-year term on the Federal Reserve Bank of St. Louis’s Community Depository Institutions Advisory Council.
Padak will be a member of the group that advises St. Louis Federal Reserve President James Bullard on the credit, banking and economic conditions facing the Fed’s Eighth District, which includes Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.
Padak, who lives in Highland, has been with Scott Credit Union since 1994. He was elected President & CEO of SCU in February of 2005. He previously was Vice President of Mortgage Lending and Senior Vice President during his 18 years at SCU.
During his tenure as President & CEO, Padak has guided the credit union from $359 million in assets to more than $880 million assets. The credit union also has grown from 52,000 to more than 105,000 members and has expanded its community field of membership to include 17 Illinois counties and St. Louis County.
Scott Credit Union currently has 15 area locations and is one of the largest credit union in the St. Louis Metropolitan Area.
Scott Credit Union is a not-for-profit financial cooperative that is member owned. The credit union is member owned and recently gave about $1.2 million back to members through a bonus dividend and loan interest rebate.
Scott Credit Union is open to anyone who lives or works in a 17 county area, including Madison, St. Clair, Monroe, Randolph, Perry, Franklin, Jefferson, Washington, Clinton, Marion, Bond, Macoupin, Montgomery, Fayette, Effingham, Williamson, and Jackson counties. Anyone who lives or works in St. Louis County, Missouri also can open accounts at SCU. Additionally, anyone active or retired military also can have accounts with Scott Credit Union.
Scott Credit Union currently has 15 area locations: Scott Air Force Base, East Belleville, Fairview Heights, Collinsville, O’Fallon, Edwardsville, Waterloo, Highland, Caseyville, West Belleville, Millstadt, Mascoutah, Troy, East Alton and its Home Office in Edwardsville.
For details on opening accounts at Scott Credit Union, visit www.scu.org, call 1-800-888-4728, or stop by any of the credit union’s branches.