Caro Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.00% | Reward Checking | 1.74% - National Average |
| 1.20% | 5-year CD | 2.27% - National Average |
| 0.45% | 1-year CD | 1.38% - National Average |
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
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.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24404 |
| Year Chartered | 1967 |
| Employees | 20 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.33% |
| Return on Equity - YTD | 2.51% |
| Annual Interest Income | $3.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $94.8MM$88.0MM |
| Loans | Q4 2018vs Q4 2017 | $60.4MM$55.7MM |
| Deposits | Q4 2018vs Q4 2017 | $81.5MM$75.2MM |
| Equity Capital | Q4 2018vs Q4 2017 | $12.5MM$12.4MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $574.00K$491.00K |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $412.00K$415.00K |
| Real Estate Owned | Q4 2018vs Q4 2017 | $0$0 |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.00%* | - | $7.5k | Kasasa Cash Checking | ||
| OTHER TIERS: 0.15% → $7.5k+ | |||||
Caro Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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 |
| Caro Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 4480 Rosewood Dr | Columbia, SC 29209 |
| Branch Office | 710 Pulaski St | Columbia, SC 29201-3633 |
| Branch Office | 800 University Way Third Floor Administration | Spartanburg, SC 29303 |