State Credit Union is headquartered in Columbia and is the 7th largest credit union in the state of South Carolina. It is also the 327th largest credit union in the nation. It was established in 1952 and as of March of 2022, it had grown to 265 employees and 83,660 members at 20 locations. State Credit Union has an A health rating.
Field of Membership Restrictions
Membership in State Credit Union is open to the following: (1) individuals who live, work, worship, or attend school in Aiken, Anderson, Florence, Greenwood, Oconee, Orangeburg, Pickens, or Spartanburg Counties in South Carolina; (2) employees of the state of South Carolina or any county or municipality within the state of South Carolina; (3) employees, faculty and students of any South Carolina technical college or state chartered college or university; (4) those enrolled in the South Carolina retirement system; (5) employees of Pepsi Cola Bottling Co., Swift Transportation and over 200 statewide Select Employer Groups.
See current membership details
South Carolina State Credit Union Review
I have banked exclusively with the South Carolina State Credit Union for essentially my entire life. I am 30 years old, and set up my account initially when I was 10 years old. This was just a simple savings account that my family encouraged me to set up. I was able to open this account due to a family member being a member already, but the process of joining the credit union is very simple.
I currently keep a savings account at this particular credit union, but not my normal checking system. I choose to use a national bank as a checking account, due to the amount of available ATM's. I have however, utilized the credit union for 2 auto loans throughout my life and will do so again if I ever finance another car. The rates were MUCH lower than any other national outlet, and the process was very simple. I will be purchasing my first home in a few years, and will be financing my purchase with a mortgage through this credit union.
Overall the ease of use is there and the customer service cannot be beat. I would encourage anyone in the state of South Carolina to use this institution for their banking and financial needs.
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!
No Member Support
SCU bank is the worst! Home advisor pro scammed me and stole over $1,000 from my savings and this bank will not do a fraud dispute and after numerous other issues id suggest anyone who is serious about their money not bank here you will lose it before you can even think about saving it
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.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 24824 |
| Year Chartered | 1952 |
| Employees | 265 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.34% |
| Return on Equity - YTD | 13.27% |
| Annual Interest Income | $9.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2022vs Q1 2021 | $1.32B$1.21B |
| Loans | Q1 2022vs Q1 2021 | $611.7MM$567.3MM |
| Deposits | Q1 2022vs Q1 2021 | $1.18B$1.05B |
| Equity Capital | Q1 2022vs Q1 2021 | $130.8MM$135.0MM |
| Loan Loss Allowance | Q1 2022vs Q1 2021 | $3.4MM$4.7MM |
| Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $2.7MM$2.1MM |
| Real Estate Owned | Q1 2022vs Q1 2021 | $0$0 |
