Question 1

What is Scott Credit Union (SCU)?

Accepted Answer

Scott Credit Union (SCU) is a member-owned, not-for-profit financial cooperative serving over 150,000 members across 32 counties in Illinois and Missouri. With approximately $1.77 billion in total assets, SCU is one of the largest credit unions in the region. The credit union operates 23 branch locations throughout the metro-east Illinois and greater St. Louis, Missouri areas, providing comprehensive financial services to individuals, families, and businesses.

SCU distinguishes itself through its community-focused cooperative structure, where each member is also an owner with only a $5 minimum savings deposit required.

Question 2

When was Scott Credit Union (SCU) founded?

Accepted Answer

Scott Credit Union was founded in 1943 by 27 civil service employees at Scott Air Force Base. Originally established as the Scott Field Civilian Employees' Credit Union, the institution was created to serve civil servants within the Army Air Force Technical Training Command at what was then known as Scott Field.

The credit union was officially incorporated on May 28, 1943. Over more than 80 years, SCU has evolved from a small workplace credit union serving military personnel and civilian employees into a full-service financial institution serving diverse communities across Illinois and Missouri.

Question 3

Where is Scott Credit Union (SCU) headquartered?

Accepted Answer

Scott Credit Union is headquartered at 101 Credit Union Way in Edwardsville, Illinois. The administrative offices are located in Madison County, within the metro-east region of the St. Louis metropolitan area.

Question 4

Where does Scott Credit Union (SCU) operate?

Accepted Answer

Scott Credit Union serves members across 32 counties in Illinois and Missouri. In Illinois, the credit union operates in Bond, Calhoun, Christian, Clinton, Cook, Crawford, DuPage, Effingham, Fayette, Franklin, Greene, Jackson, Jasper, Jefferson, Jersey, Macoupin, Madison, Marion, Monroe, Montgomery, Morgan, Perry, Randolph, St. Clair, Sangamon, Shelby, Washington, Will, and Williamson counties.

In Missouri, SCU serves St. Charles County, St. Louis County, and the City of St. Louis. The credit union maintains 23 branch locations throughout these regions, including branches in Edwardsville, Collinsville, Columbia, Belleville, Highland, Fairview Heights, O'Fallon, Troy, Waterloo, Wood River, and several St. Louis area locations including Ferguson and Ladue. A dedicated branch at Scott Air Force Base serves military personnel and authorized base personnel.

Question 5

What services does Scott Credit Union (SCU) offer?

Accepted Answer

Scott Credit Union provides a comprehensive range of financial products and services. Deposit accounts include share savings accounts, free checking accounts with interest, money market accounts, and certificates of deposit with various term options.

Lending services encompass new and used vehicle loans, mortgage loans, home equity loans, personal loans, unsecured lines of credit, and business loans. SCU also offers credit and debit card programs with competitive rates.

Digital banking services include online banking, a mobile banking app with features such as mobile check deposit, bill pay, fund transfers, account management, and ATM/branch locators. Members have surcharge-free access to nearly 30,000 CO-OP Network ATMs nationwide at locations including 7-Eleven, Circle K, Costco, and Dunkin Donuts.

Additional services include investment management, retirement planning services, business account services, and free online bill pay. The Member Contact Center provides support via phone and live chat Monday through Saturday.

Question 6

What makes Scott Credit Union (SCU) unique?

Accepted Answer

Scott Credit Union stands out for its remarkable commitment to giving back to members and communities. Over the past 16 years, SCU has returned $15.4 million to members through bonus dividends and loan interest rebates. The credit union has contributed nearly $3.7 million to local civic efforts and charitable causes.

The SCU Community Foundation supports local schools through the "With You Program," which has allocated over $355,000 to school projects since 2020, including $150,000 in 2024 alone. The credit union maintains a robust employee volunteer program (VIP Program) that encourages staff participation in community service activities.

SCU partners with educational institutions including Southern Illinois University Edwardsville, Southwestern Illinois College, Lewis & Clark Community College, Lindenwood University, and McKendree University. The credit union offers financial literacy programs such as MoneyWise for elementary students and a partnership with the St. Louis Cardinals for youth financial education.

The cooperative structure ensures that all revenue after expenses and reserves is returned to members through better rates and expanded services rather than distributed to external stockholders.

Question 7

What type of financial institution is Scott Credit Union (SCU)?

Accepted Answer

Scott Credit Union is a state-chartered credit union regulated by the Illinois Department of Financial and Professional Regulation and insured by the National Credit Union Administration (NCUA). The credit union operates under NCUA Charter Number 66370.

As a member-owned financial cooperative, SCU operates on democratic principles where each member has equal voting rights regardless of account balance. The Board of Directors consists entirely of volunteer members who provide strategic direction based on member needs rather than profit maximization.

Membership eligibility includes anyone who lives or works in the 32 counties served across Illinois and Missouri, immediate family members of current members, active or retired military personnel and civilian employees of Scott Air Force Base, and employees of various select employer groups. Membership requires only a $5 minimum deposit in a share savings account, making ownership accessible to all eligible individuals.

Scott Credit Union (SCU)

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About Scott Credit Union (SCU) in the United States