South Carolina Federal Credit Union

Overview / Commentary
2175 Credit Union Ln
North Charleston, SC 29406

South Carolina Federal Credit Union is headquartered in North Charleston and is the 2nd largest credit union in the state of South Carolina. It is also the 166th largest credit union in the nation. It was established in 1936 and as of March of 2021, it had grown to 477 employees and 168,930 members at 24 locations. South Carolina Federal Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership in South Carolina Federal Credit Union is open to those who live, work, worship or attend school in Charleston, Georgetown, Columbia, or Florence and through family members.
See current membership details

Reviews (3)

Best Local Bank In Charleston

Posted by: |

Compared to BB&T, Wells Fargo. and Bank of America in Charleston, SC there is no comparison. BB&T is horrible, but I have to deal with them with my business account. I can't comment on Web experience, only customer service within the branch. SCFCU treats everyone like a king. When I go to make a deposit or withdrawal I simply show my ID and tell them which account number. At BB&T I have to either write myself a check or use a deposit slip. How antiquated is that? The lines at other banks can get long, SCFCU always has the right amount of tellers, at most you will have 1 person in front of you.

SC Credit Union

I switched by bank from Well Fargo to South Carolina Credit Union because of a poor customer service after the Wachovia transition. I was pleasantly surprised with the customer service of South Carolina Credit Union. They had a more personal approach in dealing with their customers. Also, the rates on their loans were lower than other banks. I was able to refinance my mortgage at a lower rate which saved me significant amount of money.

Do Not Bank With These People

Worst app in banking. Also, i believe this bank; South Carolina Federal Credit Union, has a predatory method of charging it's customers with fees. They offer programs that are not standard for most banks. I was charged a total of $450 for transactions that should not have even over drafted my account. They applied fees, which resulted in a negative balance, and continued to apply fees over the Christmas holiday while the bank was closed and I was unable to deposit my check. I was not notified by email, or text that my account had fallen below a specific notification balance of $50 that I choose. The first notice I received was a full day after the last fee was applied. I will be ending my relationship with this bank which I maintained for over 30 years. The employee handling my account was incredibly rude and did not offer any assistance with my account issues, despite the fact that I have not had an nsf for over ten years. Incredibly dissapointed with the service that I received. I would recommend not banking with this company.


Health Grade Components

NCUA #1022
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD0.93%
Return on Equity - YTD8.83%
Annual Interest Income$15.9MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$2.31B$1.95B
LoansQ1 2021vs Q1 2020$1.57B$1.49B
DepositsQ1 2021vs Q1 2020$1.90B$1.52B
Equity CapitalQ1 2021vs Q1 2020$236.7MM$219.8MM
Loan Loss AllowanceQ1 2021vs Q1 2020$5.9MM$4.0MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$1.6MM$3.1MM
Real Estate OwnedQ1 2021vs Q1 2020$86.00K$369.00K

Rates for South Carolina Federal Credit Union are currently being reviewed.



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