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Banks vs Credit Unions

The South Carolina Federal difference.


South Carolina Federal


Profit Not-for-profit: when the credit union earns income, it is invested back into the organization For profit: when banks earn income, they split dividends to the stockholders who have invested in the bank.   
Board of Directors Credit union members.  Volunteers elected by the membership. Paid Board of Directors.
Insurance National Credit Union Administration (NCUA) protects member funds up to $250,000.  The Federal Deposit Insurance Corporation (FDIC) protects bank customer funds up to $250,000.
Your Participation  Member and Owner  Customer
Products and Services  Full-service financial institution Full-service financial institution 
ATMs Part of the CO-OP Network of more than 28,000 surcharge-free ATMs nationwide. Most banks offer ATMs.
Wealth Management We partner with CUNA Mutual and provide investment opportunities through South Carolina Federal Investment SolutionsTM Most banks offer investment services.
Community Involvement South Carolina Federal's community involvement ranges from Financial Literacy in schools to donating time and money to The Trident United Way and The American Red Cross, among many others.

Online Banking Enrollment

Enrolling in Online Banking is simple and FREE:

  1. Enter your User ID
  2. Enter Phone Banking PIN as your Password
  3. Click on the LOG IN button

If you don't know your Phone Banking PIN, please contact us at 843.797.8300 (Charleston) or 800.845.0432 (Nationwide).