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Silver State Schools Credit Union Surpasses $1 Billion in Total Assets

May 06, 2021
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Silver State Schools Credit Union (SSSCU), a Las Vegas-based financial institution, celebrating over 70 years of serving its members, has exceeded $1 Billion in total assets during the first quarter of 2021. 

Leading SSSCU to the $1 Billion asset mark is President/CEO, Scott Arkills, who has been with the credit union since 2016. The SSSCU Board of Directors, Executive Team and Staff has been instrumental in achieving this strategic milestone. 

“We celebrate this achievement with all of our members. To reach the $1 Billion asset milestone is all about serving our members and their families from our educational community and the Southern Nevada community at large,” stated Scott A. Arkills, President/CEO, Silver State Schools Credit Union. “We thank all of our loyal members who continue to place their trust and confidence in SSSCU to reach their financial goals and dreams. Reaching this historic milestone will enable SSSCU to continue to provide our members with innovative, best-in-class products and services well into the future.”  

“We have demonstrated that we understand economic change and the financial climate. The credit union recognizes economic responsibility about growth,” adds Ray Wilson, Senior Vice President/CFO, Silver State Schools Credit Union. “Despite the challenges of the past year, we have followed our fiscal strategies to maintain a strong credit union providing reliable, secure, and personal financial services for our members.”

As a not-for-profit financial institution, SSSCU supports its members with financial products that are insured with strong liquidity and stable capital. The Credit Union gives back to the community by providing scholarships to graduating High School Seniors, supporting the educational needs of the community, and providing financial literacy tools both online and in the classroom.

Silver State Schools Credit Union has been recognized as the Gold Standard in Las Vegas Credit Unions after receiving the Gold Award as “Best Credit Union” in the Las Vegas Review-Journal’s Best of Las Vegas Poll for three years running since 2018. SSSCU will continue to build upon its success in serving the greater Southern Nevada community, by providing innovative financial solutions that both enhance and protect their members financial well-being. 

SSSCU, founded in 1951, is a state-chartered financial co-operative Prioritizing People Over Profit. The Credit Union serves over 56,000 members of the educational community, as well as the community at large and their families with ten branches in Southern Nevada. SSSCU provides “Excellent Member Service and Financial Solutions – for Life!” via a wide range of banking products that are simple, secure, and convenient. As of March 31, 2021, SSSCU reported total assets of $1.056 Billion, deposits of $958 Million, and loans of $583 Million. Liquidity remains strong at $279 Million, and the credit union is well-capitalized with a regulatory net worth at $95 Million, equal to 8.98% of total assets. Accounts insured up to $500,000. American Share Insurance insures each account up to $250,000. Excess Share Insurance Corporation provides up to an additional $250,000 of insurance per account. This institution is not federally insured. For more information, visit silverstatecu.com.