Scott Credit Union to open branch in Lebanon

Scott Credit Union is finalizing plans to open a branch in Lebanon in the spring of 2020.

The credit union, with headquarters in Edwardsville, will open a full-service location at 101 E. Schuetz St. (Illinois Route 4).

The newest SCU location, which was a former bank building, is 3,840 square feet and features a traditional teller line in the lobby and two drive-up teller windows. The location a drive-up ATM.

“We are excited to be growing again with another Illinois location to serve people in Lebanon and those traveling to and from Scott Air Force Base,” said Scott Credit Union President and CEO Frank Padak (shown). “We expect to open the Lebanon Branch in the spring. This is another step in our growth and commitment to serving the Illinois market. We are pleased to be adding our 18^th branch and our 15^th in Illinois.”

The new Lebanon branch is part of Scott Credit Union’s strategic growth plan, which includes adding branches to better serve members in Illinois, Padak added.

“We want to be convenient so our nearly 145,000 members can take advantage of the value we offer,” he said. “We welcome the residents in Lebanon and the area around it to see why we are a great money-saving alternative.”

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 said it has given $12 million back to members through a bonus dividend and loan interest rebate over the past 12 years. In November, 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.”

Scott Credit Union currently has 17 area locations: Scott Air Force Base; East Belleville; Fairview Heights; Collinsville; O’Fallon; Edwardsville; Waterloo; Highland; West Belleville; Mascoutah; Troy; Wood River; Columbia; Ladue, MO; Crestwood, MO; Ferguson, MO; and its Home Office in Edwardsville.

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