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 176th largest credit union in the nation. It was established in 1936 and as of June of 2023, it had grown to 538 employees and 176,748 members at 35 locations. South Carolina Federal Credit Union's money market rates are 7X the national average, and it has a B+ 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
Related Posts
Best Local Bank In Charleston
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.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1022 |
| Year Chartered | 1936 |
| Employees | 538 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.05% |
| Return on Equity - YTD | 9.5% |
| Annual Interest Income | $50.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $2.52B$2.58B |
| Loans | Q2 2023vs Q2 2022 | $1.92B$1.69B |
| Deposits | Q2 2023vs Q2 2022 | $2.07B$2.16B |
| Equity Capital | Q2 2023vs Q2 2022 | $279.5MM$262.4MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$6.0MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $5.6MM$3.2MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
