Caro Federal Credit Union


Overview / Commentary
803-227-5555
4480 Rosewood Dr
Columbia, SC 29209-2629

Caro Federal Credit Union is headquartered in Columbia and is the 22nd largest credit union in the state of South Carolina. It is also the 1,660th largest credit union in the nation. It was established in 1967 and as of December of 2018, it had grown to 20 employees and 7,326 members at 3 locations. Caro Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to the following: 1) members of the Friends of Carolina; 2) those affiliated with University of South Carolina, Coastal Carolina University, Benedict College, Midlands Technical College, or Horry-Georgetown Technical; 3) employees of the Veterans Administration Regional Office; 4) family of a current member. (membership requirements are listed in the credit union's online application)
See current membership details

Reviews (2)

Good, not great, Credit Union

I've banked with Carolina Collegiate for at least 18 years now. I'm considering making a change. It seems like every year their fees go up or they add a new weird fee. For instance, for years we would occasionally count on overdrafts from our checking account to come from our savings account. In the last few years, CCU has started charging fees for each transfer. I know I move money over to checking easily enough through the internet, but this is just an example of the nickel and diming that CCU now practices. They've closed one of their two locations, and the crew at the remaining location has turned over recently. New tellers who are not well trained yet. We've got some accounts at Palmetto Citizens, and we've been pleased with their service. It's just such a pain to transfer all our online payments. Grr.

Nice credit union

Carolina Collegiate Federal Credit Union is a typical local credit union in my opinion. I've banked with several credit unions over the years and this one is reasonably good but because of its size it doesn't offer all the services that a larger one would. They also don't pay very much in terms of interest. I've never had a loan with this institution but I've got several savings accounts and have for nearly twenty years. The customer service at the branch I use is very good. I get taken care of very well there and have for many years. However, the customer service at the main branch leaves a lot to be desired. I tried to contact them for help at one point and a week later I was still waiting. The major shortcoming is the lack of services though. What you can do online is limited, as is what you can do over the phone. All in all though, it's a reliable place to do business.



Health
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Caro Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #24404
Year Chartered1967
Employees20
Primary Regulator
Profit Margin
Return on Assets - YTD0.33%
Return on Equity - YTD2.51%
Annual Interest Income$3.2MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$94.8MM$88.0MM
LoansQ4 2018vs Q4 2017$60.4MM$55.7MM
DepositsQ4 2018vs Q4 2017$81.5MM$75.2MM
Equity CapitalQ4 2018vs Q4 2017$12.5MM$12.4MM
Loan Loss AllowanceQ4 2018vs Q4 2017$574.00K$491.00K
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$412.00K$415.00K
Real Estate OwnedQ4 2018vs Q4 2017$0$0
Rates
Skip to rates for:
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Caro Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Caro Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$100-Scholars Dollars Club
0.10%$500-Share IRA
0.10%$500-Roth IRA
0.10%$100-Education IRA
0.10%$500-Roth Conversion IRA

Caro Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$7.5kKasasa Cash Checking
OTHER TIERS: 0.15% $7.5k+

Caro Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.20%$500-60 Month Share Certificate
1.20%$100-60 Month Scholars Dollars Share Certificate
1.10%$500-48 Month Share Certificate
1.10%$100-48 Month Scholars Dollars Share Certificate
0.75%$500-24 Month Share Certificate
0.75%$500-30 Month Share Certificate
0.75%$100-24 Month Scholars Dollars Share Certificate
0.75%$100-30 Month Scholars Dollars Share Certificate
0.45%$500-12 Month Share Certificate
0.45%$100-12 Month Scholars Dollars Share Certificate
0.25%$1k-6 Month Share Certificate
0.25%$500-18 Month Share Certificate
0.25%$100-6 Month Scholars Dollars Share Certificate
0.25%$100-18 Month Scholars Dollars Share Certificate
0.10%$1k-3 Month Share Certificate
0.10%$100-3 Month Scholars Dollars Share Certificate

Caro Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$500-30 Month IRA Share Certificate
0.50%$500-30 Month Roth IRA Certificate
0.50%$100-30 Month Educational IRA Certificate
0.50%$500-30 Month Roth Conversion IRA Certificate
0.40%$500-24 Month IRA Share Certificate
0.40%$500-24 Month Roth IRA Certificate
0.40%$100-24 Month Educational IRA Certificate
0.40%$500-24 Month Roth Conversion IRA Certificate
0.25%$500-18 Month IRA Share Certificate
0.25%$500-18 Month Roth IRA Certificate
0.25%$100-18 Month Educational IRA Certificate
0.25%$500-18 Month Roth Conversion IRA Certificate
Locations


Caro Federal Credit Union Locations
Branch Office4480 Rosewood DrColumbia, SC 29209
Branch Office710 Pulaski StColumbia, SC 29201-3633
Branch Office800 University Way Third Floor AdministrationSpartanburg, SC 29303

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.