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Savings

Frequently Asked Questions (FAQs)



How do I close my account?
How do I open an account online?
What are my deposit options?
What is Regulation D?




How do I close my account?
If you wish to close your account, we ask that you stop by any branch location or Contact Us.

Please be advised, your account cannot be closed if you have an open credit card and/or loan with a balance. If the credit card and/or loan are paid in full, but still open, you will still need to sign documents to close those accounts.

South Carolina Federal designs its products and services to stay one step ahead of members’ needs. If you plan to close your account due to relocation, please keep in mind that we offer 24/7 access to your accounts via
Online Banking, Phone Banking, Mobile Banking, Text Banking and mobile apps.

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How do I open an account online?
Things to keep in mind as you begin the application process:
  • It will take about 10 minutes to open and fund your new account.
  • The following accounts require personal attention, specific documentation and are not opened online: Trust, Individual Retirement Accounts (IRAs), Business, Teen accounts and Kids Savings accounts. Please visit a local branch or contact us for assistance with these accounts.
What you will need:
  • A valid driver's license
  • Previous home address (if you have lived at your home address for less than two years)
  • U.S. Social Security Number or ITIN
  • U.S. checking account or credit/debit card to fund the account
  • You must be a U.S. citizen or a U.S. resident alien
To open your account now, Click Here

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What are my deposit options?
  • Direct deposit
  • Mail in deposits with the account number to South Carolina Federal Credit Union at:
    P O Box 190012
    N Charleston, SC 29419-9012
  • Deposits can be made at any one of our ATMs and some CO-OP Network ATMs using your South Carolina Federal MasterCard® Debit Card.
  • Bank to Bank wires
  • Deposits can be made at any one of our branch locations during business hours or through the night drop deposit box on the side of every branch building.
  • Contact us to make a Western Union SpeedPay deposit by phone.
  • Remote Deposit via Mobile Banking Apps
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What is Regulation D?
What is Reg D:
  • Federal Regulation D (also referred to as Reg D) is a federal regulation that became effective May 1, 1999 and requires all financial institutions to limit the number of automatic or preauthorized withdrawals or transfers from a savings account to 6 times per month.
What transactions are limited by Reg D:
  • Automatic transfers from savings to checking to cover any overdrafts (checks or debits), transfers requests made through Phone Banking, the Contact Center, or Online Banking from a savings account to another deposit account, preauthorized transfers from savings (recurring transfers established in advance) and ACH debits from savings.
What transactions are not limited by Reg D:
  • Payments to a South Carolina Federal credit card or loan are not included in the limited transactions.
  • Withdrawals or transfers made in person at a branch or ATM and any transaction by mail or night drop are not included in these limitations.
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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).