Scott Credit Union is returning $500,000 to its members, the $1.1 billion asset CU announced today.
To thank them for their loyalty, SCU will give active members an additional 1 percent APY bonus dividend and a rebate of 1 percent of the interest they paid this year on any loan or credit card.
Scott Credit Union has given back more than $10 million to members in the past 10 years and has given members a bonus dividend for the past 26 years. The Illinois-based institution has 140,000 members in total.
“For the past 11 years we also were able to give the loan interest rebate,” Frank Padak, Scott Credit Union president and CEO, said in a press release. “Our members are the reason we have been successful, and it is nice to show them that active membership in our credit union is a good decision on their part.”
The Edwardsville, Ill.-based CU 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.