Scott Credit Union Helping Small Businesses Thrive

Eastern Missouri - Scott Credit Union’s Commercial Banking team is focused on helping small businesses create jobs and thrive in the local economy. That focus recently resulted in SCU being named the top credit union SBA lender in Eastern Missouri for the fifth straight year.

The award was presented recently by the St. Louis District Office of the U.S. Small Business Administration during its Small Business Week annual awards celebration.

“Since we began assisting small businesses with SBA loans in 2014, Scott Credit union has granted access to over $13 million in capital, which helped retain 133 jobs and create over 200 jobs in our local communities in both Illinois and Missouri,” said SCU Vice President of SBA Lending Chris Davis. “SBA lending has a significant impact on the communities we serve by allowing businesses access to capital needed to start, continue, or expand operations.”

Scott Credit Union has also been a top credit union SBA lender in Illinois for several years.

“We are really honored to have won the award this year,” Davis said. “But, for us, it is really about helping small businesses grow with the funding needed that they may not be able to attain through traditional commercial lending.”

In 2018 alone, Scott Credit Union helped local businesses retain 67 jobs and create another 101 new jobs with nearly $6 million in SBA loans, Davis added.

The local SBA staff recognizes small business as well as lenders during Small Business Week, which includes a full week of activities to celebrate the achievements of small business owners and the organizations that support them.

Scott Credit Union offers SBA loans, commercial real estate loans, business vehicle loans, capital improvement loans, business lines of credit, equipment loans and working capital lines.

SCU also offers business deposit accounts and a business credit card with rewards and no annual fee, Davis added.

Scott Credit Union is a financial cooperative. When someone opens an account at the credit union, they become a member and an owner. Because of its structure, Scott Credit Union has given $11 million back to members through a bonus dividend and loan interest rebate over the past 11 years.

Scott Credit Union currently has 16 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; and its Home Office in Edwardsville.

For more information on how Scott Credit Union can help your business, visit scu.org or call (618) 381-7315.

PHOTO: SCOTT CREDIT UNION NAMED TOP CREDIT UNION SBA LENDER – Scott Credit Union was recently named the top credit union SBA lender in Easter Missouri for the fifth straight year. Pictured from left are Small Business Week of Eastern Missouri Committee Chairperson Brian Rogers, SCU Vice President of SBA Lending Chris Davis and Small Business Administration District Director Maureen E. Brinkley.