It is with great sadness that Silver State Schools Credit Union (SSSCU) announces that Leonard Petoske, long-time credit union volunteer of 50 years, passed away on January 2, 2021. Mr. Petoske began his volunteer work with the Credit Union in 1965 as a member of the credit committee, which he held for two years. In 1967 was elected to serve as a Board Member, where he served for 48 years. As a Board Member, Mr. Petoske held various positions, including Board Chairman, which he served for 17 years and retired from SSSCU in 2015.
“Over a period of 50 years Leonard Petoske had a profound positive effect in shaping Silver State Schools into the successful financial institution that it is today,” stated Scott A. Arkills, President and CEO, Silver State Schools Credit Union. “Len truly epitomized the credit union volunteer spirit with his institutional knowledge and focus on member service. His gentle and yet powerful presence will be truly missed by all of us.”
Mr. Petoske was committed to the growth and success of the Credit Union. During his tenure, the Credit Union grew from $3 million in total assets to more than $600 million. He was committed to building a Credit Union that lived its mission of providing members Excellent Member Service and Financial Solutions – for Life! Upon his retirement, Silver State Schools Credit Union dedicated the Credit Union’s Boardroom as the Len Petoske Boardroom. In addition, the Leonard Petoske Scholarship Award bears his name in recognition for the years of service to the Credit Union.
“Len Petoske was a mentor to me from the moment he asked me to consider joining the Board of Directors back in 2000,” says Mitch Fox, Vice Chairman, Board of Directors, Silver State Schools Credit Union. “His quiet, soft-spoken, even-tempered demeanor, coupled with his experience, wisdom and commitment helped steer the credit union through difficult times and through seasons of unprecedented growth and prosperity.”
After retirement, Mr. Petoske continued to be a very active participant in various Credit Union activities. He attended the Annual Meeting of Members, where annually he awarded the scholarship bearing his name to a deserving student, and he also attended the bi-annual Shred Day events.
Mr. Petoske will always be remembered for his exemplary leadership and dedicated service to Silver State Schools Credit Union. The SSSCU Board of Directors, Supervisory Committee, Executive Team, and employees extend their sincere condolences to Leonard Petoske’s family at this difficult time.
ABOUT SILVER STATE SCHOOLS CREDIT UNION
SSSCU, founded in 1951, is a state-chartered financial co-operative Prioritizing People Over Profit. The Credit Union serves over 55,000 members of the educational community and their families in Nevada with ten branches throughout the Las Vegas Valley. 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 September 30, 2020, SSSCU reported deposits of $851 million, total assets greater than $950 million, and loans of $639 million. Liquidity remains strong at $177 million, and the credit union is well-capitalized with a regulatory net worth at $90 million, equal to 9.52% of total assets. Accounts are 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, and if the institution fails, the Federal Government does not guarantee that depositors will get back their money. For more information, visit silverstatecu.com.