SRP Federal Credit Union

Overview / Commentary
1070 Edgefield Rd
North Augusta, SC 29860

SRP Federal Credit Union is headquartered in North Augusta and is the 5th largest credit union in the state of South Carolina. It is also the 278th largest credit union in the nation. It was established in 1960 and as of June of 2023, it had grown to 373 employees and 193,006 members at 19 locations. SRP Federal Credit Union's CD rates are 5X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in SRP Federal Credit Union is open to individuals who belong to the Association of the United States Army (AUSA) or the Savannah Riverkeeper association, regardless of residency status. Individuals who live, work, worship, volunteer, or attend school in the South Carolina counties of Aiken, Allendale, Barnwell, or Edgefield, or the Georgia counties of Burke, Columbia, Jefferson, Lincoln, McDuffie, or Richmond also qualify.
See current membership details

Reviews (6)

Customer Service

Posted by: |

I remember with SRP for 10 years or more and I'm seriously thinking about closing my account when you go to the drive-thru some of the customer service representatives are very rude of maybe their only room to me I don't know.

Been here over 25 years

I have been banking with SRP for over 25 years, starting out as a teenager fresh on the job market. I have never had any issues with the credit union and they have securely held my money since I became a member. After previous bad experiences with local banks, I chose to become an SRP Credit Union member and am glad I chose this institution.

SRP Credit Union

I had a checking a savings account with the SRP credit Union for around five years. The always treated me and my young family very well. The fees and charges were less than competing local banks and financial institutions. I was an employee of Westinghouse and the SRP credit union served the site. There were several ATMs on the 300 square-mile site and the main location was in nearby Aiken, SC. My paycheck was deposited automatically and everything was pretty automatic. Whenever there was some kind of glitch (e.g., some kind of misunderstood charge on our checking account), I could walk over during a break and talk to someone. They always provided a personalized service and I got to know some of them on a first name basis. All-in-all it was a good experience and I recommend them.

You Shouldn't Have To Ask Permission To Spend Your Money

Posted by: |

I tried to buy a mower but my debit card was declined. It was a Saturday and there's no one at the bank to talk with. I had plenty of funds to cover the purchase but it turns out you have to call (avg wait time is 45 min) during weekday business hours and get their permission to spend over 2,500.
When I purchased a car, I called from the dealership and was told it would take about four hours to approve (ME PAYING WITH MY MONEY - NOT A LOAN). Thankfully the dealership took a check so I didn't have to wait.
I wanted to make a large purchase online, after being on hold for over 45 minutes it's explained to me that not only do I need to tell them how much and to who, IF the transaction isn't completed by 4:45pm the authorization goes away AND I can't use my card for any other purchases until the next day.
Want to pay a bill? Fill out an online form and they'll investigate and get back to you on whether or not you set up the service and do so.
I'm sooo very glad I never closed out my old CU when I moved here. I'll just bank with them online.

Antiquated Technology And Bad Customer Service

Posted by: |

My husband has been an SRP customer for well over a decade and I was added to his joint account when we got married in 2014. I opened up a separate savings account also.
Recently I made a mobile deposit to my savings account ($4,000). They told me the funds would be released in 2 days. I waited the two days and still could not transfer the money to the joint account with my husband. I went to the branch office and the teller told me to try again later that day to see if the system released the money. Nope. The next day I contacted SRP via their chat service. I explained my situation to the customer service rep. She said there was a "hold" and I'd be getting a letter, and then just disconnected and didn't say "bye" or "have a nice day" or anything. Just disconnected me.
Later that day I went to the branch office and spoke with another representative. I brought the paper check and asked them to contact the bank to verify funds. Nope. They can't do that because it's "out of state". That was very odd considering SRP operates on the SC/GA border? They can't make a call to a NY bank? I could drive to NY, cash the check, and return home by the time SRP releases the funds.
The customer service representative seemed indifferent and I felt as if I was treated like a smooth criminal. I told her I had deposited multiple checks from this investment account, over $70 K, so what was the issue? She seemed surprised.
There was an SRP letter waiting for me when I got home, notifying me that the funds were not being released because of an "exception hold" but none of the boxes were checked (because none of them applied!)
I recommend skipping this credit union because there are many better ones out there with better technology and customer service.

Horrible Customer Service

I moved out of town and planned on leaving only my savings account opened as an emergency fund, so I rarely checked on it. When I moved I had all of my mailed forwarded by the post office because I was unsure which businesses I physically updated with my new address. I was locked out of my online account and when I called, since I did not have my membership number they could not reset it over the phone and demanded that I came into a branch. Being that I lived in Washington DC, I could not come anytime soon. After a year and a half I finally made it into a branch to get my online account reset and update my address. While I was in the bank, no one informed me that for the past year and a half they had been charging me an incorrect address fee. I finally logged on to my account and noticed I Was missing money. My address may have changed, but my number always remained the same. Why would this credit union continue to take money out of my account every month and not call me to resolve the issue? I called the call center and spoke with Michelle. Explained the situation and asked that the bulk of my money be refunded which was only $85.00. She spoke with me like I was a criminal and accused me of not having integrity by asking me "if you came into a branch why wouldn't you have them fix it instead of calling back later." As a customer I should not have to feel like I need to explain my situation to receive help. Then I told her that I had called and was informed that since I did not have my member ID there is nothing they could do. She told me that was not true because they will just ask for my social or first and last name. I told her policy must have changed, but that was not the case when I called. She further more exclaimed, "It is not SRP's responsibility to make sure your address stays up today's." Then she said, "the most I can refund you is $15.00." I felt like that was an insult. I politely asked for her name she said Michelle. I said do you have a last name or ID number that you can specifically be identified by? She said, "I'm the only Michelle that works in this call center so that is all you need to know." I have been a customer of SRP since I was 8 years old and have never been so disrespected! Isn't SRP Credit Union the largest credit union in South Carolina. Do they need money so bad they can not afford a mere $80.00. Although, I have a local address now, I still work out of town a lot. I have realized that the technology is not up to date for my lifestyle I would not recommend this bank to anyone who works out of town a lot or is constantly on the go. I hope they can improve their customer service. In the meantime the next time I am in town I will be closing my account and taking my money to a bank that has better customer service!


Health Grade Components

NCUA #24410
Year Chartered1960
Primary Regulator
Profit Margin
Return on Assets - YTD1.88%
Return on Equity - YTD16.9%
Annual Interest Income$34.5MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$1.69B$1.66B
LoansQ2 2023vs Q2 2022$973.2MM$858.9MM
DepositsQ2 2023vs Q2 2022$1.47B$1.48B
Equity CapitalQ2 2023vs Q2 2022$189.4MM$168.7MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$5.7MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$3.4MM$2.3MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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SRP Federal Credit Union Savings Account Rates

0.37%--Christmas Club Account
0.32%--Share Accounts
0.32%--Savings II
0.32%--Business Savings Account
0.32%--IRA Savings
0.01%--Transactional Share Accounts
0.01%--VISA Traditional Secured Savings

SRP Federal Credit Union Checking Account Rates

0.10%--Share Draft Account

SRP Federal Credit Union CD Rates

4.75%$500-12 Month CD
4.30%$500-24 Month CD
3.60%$500-60 Month CD
3.50%$500-48 Month CD
3.35%$500-36 Month CD
3.25%$500-6 Month CD
3.25%$500-30 Month CD
1.25%$500-3 Month CD

SRP Federal Credit Union IRA Rates

4.75%$500-12 Month IRA
4.30%$500-24 Month IRA
3.60%$500-60 Month IRA
3.50%$500-48 Month IRA
3.35%$500-36 Month IRA
3.25%$500-6 Month IRA
3.25%$500-30 Month IRA
1.25%$500-3 Month IRA


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