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Overview / Commentary
P.O. Box 726
Columbia, SC 29202

S. C. State Credit Union is headquartered in Columbia and is the 8th largest credit union in the state of South Carolina. It is also the 373rd largest credit union in the nation. It was established in 1952 and as of December of 2013, it had grown to 218 employees and 73,342 members. S. C. State Credit Union has a A+ health rating.

Field of Membership Restrictions

Must live, work or attend school in Aiken, Anderson, Florence, Greenwood, Oconee, Orangeburg, Pickens or Spartanburg County. Also open to enrollees of SC Retirement Systems or employees of several Select Employee Groups. - See Details

Reviews (2)

CUSTOMER SERVICE IS HORRIBLE & WILL CHARGE YOU FEES FOR EVERYTHING

CUSTOMER SERVICE IS HORRIBLE!!!!!! WHEN YOU HAVE TO FOLLOW UP NUMEROUS TIMES ON A MATTER, TALK TO A SUPERVISOR - WHO DOES NOT CARE- DOES NOT ASSIST IN RESOLVING YOUR ISSUE, IT'S TIME TO GO SOMEWHERE ELSE. THIS BANK HAS LOST ITS CHARM. BREATHE IN THE BANK, AND THEY CHARGE YOU A FEE.

On A First Name Basis

South Carolina State Credit Union is a small credit union in South Carolina open to all state employees and their families. As my father was a state employee for many years I was able to open an account there. Because it is such a small bank it was a great first bank. You got to know the people that handle your money on a first name basis. I have never had to wait in a line to be served at South Carolina State Credit Union which is very different from many other "big name" banks. Even if you are not a state employee the bank employees will do everything in your power to find a way to make you a member! Great staff & excellent loan and savings rates too!



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 S. C. State Credit Union had $4.06 million in non-current loans and owned real-estate with $73 million in equity and loan loss allowances on hand to cover it. This gives S. C. State Credit Union a Texas Ratio of 5.56% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for S. C. State Credit Union experienced no significant changes from 3.01% as of December 31, 2012 to 5.56% as of December 31, 2013, resulting in a negative change of 84.87%. This indicates that the balance sheet and financial strength for S. C. State Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, S. C. State Credit Union has increased its total deposits by $25.37 million, resulting in 5.17% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth S. C. State Credit Union has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. S. C. State Credit Union has $590.58 million in assets with $73 million in equity, resulting in a capitalization level of 12.36%, which is excellent.

Institution Statistics

Overall
NCUA #24824
Year Chartered1952
Employees218
Primary Regulator
Assets and Liabilities
Assets$590.58 million
Loans$325.47 million
Deposits$516.38 million
Equity Capital$68.87 million
Loan Loss Allowance$4.13 million
Unbacked Noncurrent Loans$3.91 million
Real Estate Owned$147,000
Historic Data - December 2012
Assets$561.99 million
Equity Capital$64.91 million
Loan Loss Allowance$2.35 million
Unbacked Noncurrent Loans$3.91 million
Real Estate Owned$89,000
Profit Margin - Quarterly
Net Interest Margin5.09%
Return on Assets0.67%
Return on Equity5.75%
Interest Income$18.62 million
Rates

Always verify rates and promotions with the bank or credit union. We are not S. C. State Credit Union, we are a rate comparison website and can not provide official rates or promotions.

S. C. State Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%--IRA Savings Account
0.30%--Roth IRA Savings Account
0.30%--CESA Savings Account
0.30%--SEP IRA Savings Account
0.15%--Regular Savings Account
0.15%--Secondary Savings Account
0.10%--Holiday Club Account

S. C. State Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$25k-Money Management Account

S. C. State Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$2,500-First Checking Account
0.10%$2,500-Relationship Checking Account
0.10%$2,500-Club Checking Account
0.10%--DBA Dividend Checking Account
0.10%$2,500-Loyalty Checking

S. C. State Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.03%$500-60+ Month Certificate
0.91%$500-48+ Month Certificate
0.81%$500-36+ Month Certificate
0.46%$500-24+ Month Certificate
0.40%$500-18+ Month Certificate
0.35%$500-12+ Month Certificate
0.35%$100-12 Month Youth Certificate
0.25%$500-6+ Month Certificate
0.20%$500-3+ Month Certificate

S. C. State Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.03%$500-60+ Month IRA Certificate (Traditional,Roth,CESA,SEP)
0.91%$500-48+ Month IRA Certificate (Traditional,Roth,CESA,SEP)
0.81%$500-36+ Month IRA Certificate (Traditional,Roth,CESA,SEP)
0.46%$500-24+ Month IRA Certificate (Traditional,Roth,CESA,SEP)
0.40%$500-18+ Month IRA Certificate (Traditional,Roth,CESA,SEP)
0.35%$500-12+ Month IRA Certificate (Traditional,Roth,CESA,SEP)
Locations

S. C. State Credit Union has 18 locations. Click to view all S. C. State Credit Union locations.