Scott Credit Union Appoints Michael Cannes as First Chief Risk Officer to Strengthen Strategic Growth

Scott Credit Union (SCU) is pleased to announce the appointment of Michael Cannes as the organization’s first Chief Risk Officer, effective April 20, 2026. This strategic hire marks a significant milestone in SCU’s commitment to reinforcing its executive leadership team to support long-term organizational growth and stability.

The addition of a dedicated Chief Risk Officer provides the expert oversight necessary to navigate increasingly complex financial landscapes. Reporting directly to Executive Vice President Scott Seidl, Mr. Cannes oversees the operations of the Risk Management Department, providing high-level strategic counsel to the executive team.

“We are proud to welcome Michael to our leadership team,” said Frank Padak, President & CEO of Scott Credit Union. “The decision to appoint our first Chief Risk Officer is a deliberate, strategic move designed to support our growth and ensure we are well-positioned for the future. Michael’s deep familiarity with our organization, combined with his proven track record in building robust risk management frameworks, makes him the ideal choice to help us evaluate and manage risk as we pursue new projects and opportunities.”

Mr. Cannes joins SCU with over 15 years of experience partnering with executives and boards to build enterprise risk programs, ensure regulatory compliance, and align organizational strategy with disciplined risk management. He has successfully developed risk management divisions from the ground up and supported transformative organizational change across financial institutions ranging from $1 billion to $15 billion in assets. His extensive expertise spans enterprise risk management, regulatory compliance, BSA/AML, fraud management, third-party risk, and business continuity.

Prior to this appointment, Mr. Cannes served as a consultant for SCU, where he worked closely with the risk and leadership teams to design and implement comprehensive enterprise risk management strategies. This prior engagement allowed him to develop a foundational understanding of the credit union’s unique model and institutional priorities.

“I am honored to join the team at SCU,” said Cannes. “Having worked alongside this organization as a consultant, I have a deep appreciation for the mission and the strategic path forward. I look forward to strengthening our risk posture and supporting the sustainable, disciplined growth of the financial institution.”

Mr. Cannes holds an MBA from Southern Illinois University Edwardsville. His professional credentials include certifications as a Financial Services Auditor through the Institute of Internal Auditors, as well as Credit Union Compliance Expert and Credit Union Enterprise Risk Management Expert designations from America’s Credit Unions.

About Scott Credit Union
Scott Credit Union is a full-service 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 back millions of dollars to members through a bonus dividend and loan interest rebate over the years. Scott Credit Union currently has 23 locations. 22 locations in metro St. Louis including: Affton, MO; Ballpark Village in St. Louis, MO; Belleville, IL (two branches); Breese, IL; Collinsville, IL; Columbia, IL; Crestwood, MO; Edwardsville, IL (two branches); Fairview Heights, IL; Ferguson, MO; Highland, IL; Ladue, MO; Lebanon, IL; Mascoutah, IL; O’Fallon, IL; Trenton, IL; Troy, IL; Scott Air Force Base in Illinois; Waterloo, IL; and Wood River, IL; and one branch in the Chicago area in Evergreen Park, IL.

For details on opening accounts at Scott Credit Union, visit www.scu.org.