Scott Credit Union is headquartered in Edwardsville and is the 5th largest credit union in the state of Illinois. It is also the 230th largest credit union in the nation. It was established in 1943 and as of September of 2013, it had grown to 206 employees and 112,358 members. Scott Credit Union has a A+ health rating.
Credit union membership is open to anyone living or working in Monroe, Madison, St. Clair, Randolph, Perry, Franklin, Jefferson, Washington, Clinton, Marion, Bond, Macoupin, Montgomery, Fayette, Effingham, Williamson, or Jackson counties in Illinois. Membership is also open to anyone living or working in St. Louis County, Missouri. Members’ immediate family, including any relative by blood or marriage or foster and adopted children are, likewise, eligible to join. - See Details
Being a member of this bank for over 10 years and enjoyed their services until the several updates to the online banking.
Since their constant upgrades/downtime on weekends, it makes it nearly impossible to do any onlqine banking on the weekends. With that said, trying to find out your credit card balance is a game of "Chutes and Ladders." To ensure a payment is recieved you have to either pay over the phone or transfer from SCU website. Problem is if you transfer, good luck on knowing what your balance/payment is supposed to be. To find that out you have to go to the credit card site.
To top it off, they are always placing you on hold or sending you through some automated messaging system.
If you are using them for checking and savings, with out online banking non the weekends, they are okay but I woukdn't count on anything more then that
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2013 Scott Credit Union had $4.16 million in non-current loans and owned real-estate with $100.08 million in equity and loan loss allowances on hand to cover it. This gives Scott Credit Union a Texas Ratio of 4.15% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Scott Credit Union decreased slightly from 5.56% as of September 30, 2012 to 4.15% as of September 30, 2013, resulting in a positive change of 25.25%.This indicates that the balance sheet and financial strength for Scott Credit Union has improved slightly in recent periods.
In the past year, Scott Credit Union has increased its total deposits by $46.74 million, resulting in 6.09% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Scott Credit Union has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Scott Credit Union has $922.36 million in assets with $100.08 million in equity, resulting in a capitalization level of 10.85%, which is above average.
|Assets and Liabilities|
|Equity Capital||$92.96 million|
|Loan Loss Allowance||$7.12 million|
|Unbacked Noncurrent Loans||$4.09 million|
|Real Estate Owned||$64,000|
|Historic Data - September 2012|
|Equity Capital||$84.21 million|
|Loan Loss Allowance||$5.88 million|
|Unbacked Noncurrent Loans||$4.09 million|
|Real Estate Owned||$103,000|
|Profit Margin - Quarterly|
|Net Interest Margin||2.86%|
|Return on Assets||0.98%|
|Return on Equity||9.7%|
|Interest Income||$26.27 million|
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|0.25%||-||-||Roth IRA Share|
|0.25%||-||-||SEP IRA Share|
|0.40%||$50k||-||Money Market Account|
|1.65%||$100k||-||5 Year Share Certificate|
|1.45%||$100k||-||4 Year Share Certificate|
|1.25%||$100k||-||3 Year Share Certificate|
|1.00%||$100k||-||30 Month Share Certificate|
|0.85%||$100k||-||2 Year Share Certificate|
|0.70%||$100k||-||18 Month Share Certificate|
|0.60%||$100k||-||1 Year Share Certificate|
|0.45%||$100k||-||6 Month Share Certificate|
|1.65%||$100k||-||5 Year IRA|
|1.65%||$100k||-||5 Year Roth IRA|
|1.65%||$100k||-||5 Year CESA|
|1.65%||$100k||-||5 Year SEP IRA|
|1.45%||$100k||-||4 Year IRA|
|1.45%||$100k||-||4 Year Roth IRA|
|1.45%||$100k||-||4 Year CESA|
|1.45%||$100k||-||4 Year SEP IRA|
|1.25%||$100k||-||3 Year IRA|
|1.25%||$100k||-||3 Year Roth IRA|
|1.25%||$100k||-||3 Year CESA|
|1.25%||$100k||-||3 Year SEP IRA|
|1.00%||$100k||-||30 Month IRA|
|1.00%||$100k||-||30 Month Roth IRA|
|1.00%||$100k||-||30 Month CESA|
|1.00%||$100k||-||30 Month SEP IRA|
|0.85%||$100k||-||2 Year IRA|
|0.85%||$100k||-||2 Year Roth IRA|
|0.85%||$100k||-||2 Year CESA|
|0.85%||$100k||-||2 Year SEP IRA|
|0.70%||$100k||-||18 Month IRA|
|0.70%||$100k||-||18 Month Roth IRA|
|0.70%||$100k||-||18 Month CESA|
|0.70%||$100k||-||18 Month SEP IRA|
|0.60%||$100k||-||1 Year IRA|
|0.60%||$100k||-||1 Year Roth IRA|
|0.60%||$100k||-||1 Year CESA|
|0.60%||$100k||-||1 Year SEP IRA|