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.
Name: | SOUTH CAROLINA FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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