South Carolina Federal Announces New Checking Products
(CHARLESTON, S.C.) – June 11, 2012 – South Carolina Federal Credit Union announces a new line of checking products based on the way the majority of credit union members do their banking. Because credit union members are part of a locally owned, not-for-profit cooperative, they will be able to choose which checking account best meets their needs—Premium, Simple or Self-Service.
“We’re excited about these products as they offer feature-rich benefits and options for everyone,” said Scott Woods, President & CEO, South Carolina Federal Credit Union. “Rather than penalizing members for using our services, our plan encourages members to use their credit union for their everyday banking services.”
For those who do not qualify for fee-free Premium Checking or Simple Checking, the Self-Service Checking account is free.
“The majority of our members already have strong relationships with South Carolina Federal and will continue to enjoy a fee-free checking account,” said Woods. “Our sincere desire is that members will not pay a fee for checking—that’s why we have several cooperative-based options.”
The new checking products are available to members beginning June 11 and existing credit union members are encouraged to upgrade their account before August 31. Throughout the months of June and July members will receive notifications about the new products. On September 1, 2012, all checking accounts will be automatically changed to either Premium or Simple Checking.
For more information about all of the account benefits and requirements, visit scfederal.org/Personal-Banking/Checking.
About South Carolina Federal
South Carolina Federal Credit Union is headquartered in North Charleston. More than 140,000 members own and belong to the not-for-profit financial cooperative, which has over $1.3 billion in assets. South Carolina Federal is a community-chartered credit union. Anyone who lives, works, worships or attends school in Berkeley, Charleston, Dorchester, Calhoun, Orangeburg or Georgetown counties, and most of the Columbia area, is eligible to join. South Carolina Federal has 17 branches, and 74 ATMs throughout Charleston, Columbia and Georgetown. More information about South Carolina Federal can be found at scfederal.org or on the SiMPLE CENTS blog at simplecentsblog.org.
Contact: Jessica Jackson VP-Corporate Communications
South Carolina Federal Credit Union