New Horizons Credit Union, formerly Scott Southern Division Employees Credit Union and Scott Credit Union, is a not-for-profi ... t, member-owned financial cooperative that has been providing financial services to our members 1950. We are governed by a member-elected, volunteer Board of Directors. We participate in local schools, events and charities. At New Horizons Credit Union, all lending decisions made locally. Your hard earned deposits are re-invested right here in your community. If you live, work, worship, or attend school in Mobile, Baldwin, Washington, Clarke, Monroe or Escambia counties in AL, or Escambia, Santa Rosa or Okaloosa counties in FL, you are eligible for membership. More than 80 million Americans choose credit union based on their unique structure. Unlike banks, a credit union is a cooperative, not-for-profit financial institution chartered by the state or federal government. They are owned and controlled by their members, organized to promote saving and provide credit to those who belong to it. Every decision a credit union makes is for the benefit of members. Eligible people become members of a credit union by depositing money and acquiring a “share” in the credit union. Members vote for the credit union’s board of directors, each member having one vote, regardless of the assets they keep or business they do with the credit union. Officers and directors are chosen from the membership and serve on a voluntary basis. Since there are no stockholders, earnings are set aside for reserves and are returned to members in the form of better rates on loans, higher dividends on savings, and new services. Your deposits in your credit union are insured up to $250,000.00 by the National Credit Union Administration (NCUA), rated the strongest of all federal insurance agencies. New Horizons Credit Union is also an Equal Housing Lender. We want to welcome you to New Horizons Credit Union and encourage you to use our services to their full advantage. read more