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Carolina Federal Credit Union


TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/29/2025
4.54%
Our Rating
4.2  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/29/2025
4.10%
Our Rating
4.2  / 5
CIT Bank
Platinum Savings
See Offer
Sponsored Note: Get up to a $300 Cash Bonus. FDIC Insured. See site for details.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/29/2025
3.80%
Our Rating
4.3  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms Apply. Member FDIC
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/29/2025
3.70%
Our Rating
4.3  / 5
American Express®
High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
Bonus Amount
up to $300
Our Rating
4.3  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Overview / Commentary
www.carolinafcu.org
704-435-0186
1200 E Church Street
Cherryville, NC 28021

Carolina Federal Credit Union is headquartered in Cherryville and is the 30th largest credit union in the state of North Carolina. It is also the 2,040th largest credit union in the nation. It was established in 1969 and as of December of 2024, it had grown to 16 employees and 7,500 members at 1 location. Carolina Federal Credit Union's money market rates are 6X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Carolina Federal Credit Union is open to all North Carolina residents through membership in the North Carolina Consumers Council. Those who live, work, worship, or attend school in the North Carolina counties Cleveland or Gaston qualify for membership, as do their immediate family members. Employees/retirees of several sponsor groups/associations are also welcome to join.
See current membership details

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Health
A

Data as of Q4 2024

Learn why bank health matters
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. Carolina Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #19788
Year Chartered1969
Employees16
Primary Regulator
Profit Margin
Return on Assets - YTD0.88%
Return on Equity - YTD8.55%
Annual Interest Income$4.5MM
Assets and Liabilities
AssetsQ4 2024vs Q4 2023$78.5MM$71.1MM
LoansQ4 2024vs Q4 2023$52.6MM$49.6MM
DepositsQ4 2024vs Q4 2023$69.5MM$63.2MM
Equity CapitalQ4 2024vs Q4 2023$8MM$7.3MM
Loan Loss AllowanceQ4 2024vs Q4 2023$463K$478K
Unbacked Noncurrent LoansQ4 2024vs Q4 2023$310K$307K
Real Estate OwnedQ4 2024vs Q4 2023$0$0
TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/29/2025
4.54%
Our Rating
4.2  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/29/2025
4.10%
Our Rating
4.2  / 5
CIT Bank
Platinum Savings
See Offer
Sponsored Note: Get up to a $300 Cash Bonus. FDIC Insured. See site for details.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/29/2025
3.80%
Our Rating
4.3  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms Apply. Member FDIC
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/29/2025
3.70%
Our Rating
4.3  / 5
American Express®
High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
Bonus Amount
up to $300
Our Rating
4.3  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Carolina Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$25-Share Savings
0.10%$0-Club Account

Carolina Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.75%*$100k*-Money Market
OTHER TIERS: 2.05% → $2.5k - $10k | 2.15% → $10k - $25k | 2.20% → $25k - $50k | 2.40% → $50k - $100k

Carolina Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$0-Checking Account

Carolina Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%$10k-6 Month CD
3.80%*$50k*-1 Year CD
OTHER TIERS: 3.75% → $1k - $50k
3.45%*$50k*-2 Year CD
OTHER TIERS: 3.35% → $1k - $50k
3.35%*$50k*-3 Year CD
OTHER TIERS: 3.25% → $1k - $50k
3.25%*$50k*-5 Year CD
OTHER TIERS: 3.15% → $1k - $50k

Carolina Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%$10k-6 Month IRA
3.80%*$50k*-1 Year IRA
OTHER TIERS: 3.75% → $1k - $50k
3.45%*$50k*-2 Year IRA
OTHER TIERS: 3.35% → $1k - $50k
3.35%*$50k*-3 Year IRA
OTHER TIERS: 3.25% → $1k - $50k
3.25%*$50k*-5 Year IRA
OTHER TIERS: 3.15% → $1k - $50k
2.50%$0-IRA Savings
Locations


Carolina Federal Credit Union Locations
Branch Office1200 E Church StCherryville, NC 28021-9211

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