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National Credit Union Service Organization

SOUTH CAROLINA FEDERAL CREDIT UNION

Dec, 31, 2023 — SOUTH CAROLINA FEDERAL CREDIT UNION is a federal credit union headquartered in NORTH CHARLESTON, SC with 35 branch locations and about $2.57 billion in total assets. Opened 88 years ago in 1936, SOUTH CAROLINA FEDERAL CREDIT UNION has about 175,960 members and employs 564 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253278401
Name:SOUTH CAROLINA FEDERAL CREDIT UNION
Address:
(Main Office)
2175 Credit Union Ln
NORTH CHARLESTON, SC 29406-4915
Phone:(843) 797-8300
Fax:(843) 569-6389
Website:https://www.scfederal.org
Branches:35 branch locations
Members:175,960
Credit Union Type:Federal Credit Union
Charter Number:1022
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$2,572,640,500
CEO/Manager:Scott Woods
Chairperson:James E Mace

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 166,738,212
TOTAL INVESTMENTS 0
Loans Held for Sale 1,243,300
 
 Real Estate Loans 1,140,951,110
 Unsecured Loans 78,006,984
 Other Loans 797,932,059
 TOTAL LOANS 2,016,890,153
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -15,906,768
 Land And Building 101,469,825
 Other Fixed Assets 19,755,694
 NCUSIF Deposit 19,358,532
 All Other Assets 286,056
  TOTAL ASSETS 2,572,640,500
LIABILITIES & CAPITAL:  
 Dividends Payable 626,219
 Notes & Interest Payable 248,214,286
 Accounts Payable & Other Liabilities 44,382,826
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 610,898,509
 Regular shares 814,291,091
 All Other Shares & Deposits 562,387,087
  TOTAL SHARES & DEPOSITS 1,987,576,687
  TOTAL LIABILITIES 2,280,800,018
 Regular Reserve 0
 Other Reserves 14,430,687
 Undivided Earnings 277,409,795
  TOTAL EQUITY 291,840,482
  TOTAL LIABILITIES, SHARES, & EQUITY 2,572,640,500
INCOME & EXPENSE  
 Loan Income 94,700,429
 Investment Income 10,772,782
 Other Income 23,039,342
 Total Employee Compensation & Benefits 61,150,256
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 54,832,151
 Non-operating Income & (Expense) 110,190
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 6,050,000
 Cost of Funds 9,801,166
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 25,629,341
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