The Credit Union Difference

Banks v. Credit Unions

Join today

Compare Credit Unions vs. Banks

We are member-owned and exist only for the financial benefit of our membership. As a result, South Carolina Federal is able to pay competitive dividends on savings and offer attractive interest rates on loans.
 
South Carolina Federal Credit Union
Banks
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.
You
Member and Owner
Customer
Products and Services
Full-service financial institution
Full-service financial institution
ATMs
In addition to our own ATMs, part of the Allpoint Network of more than 55,000 surcharge-free ATMs worldwide.
Most banks offer ATMs.
Wealth Management
We 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.
Varies