Loans

Friendly, affordable financing for life's big moments, major purchases, and more.

Car, truck, or SUV. New or used vehicle. Whatever you drive, our affordable financing can get you rolling on the road.

  • Flexible payment terms.
  • Refinancing available.

Whether you are buying your dream home or borrowing money to spruce up your current place, our experienced lenders are always ready to help our neighbors.

  • Fixed-rate and adjustable-rate mortgages.
  • Home equity loans and home equity lines of credit.

Cast a fishing line, sail into the sunset, skim across the lake at wind-whipping speed. Almost nothing frees the spirit more than a day on the water.

  • Financing for watercraft of all types.
  • Quick pre-qualification.

Get cash to cover unexpected expenses or do something special. Our Personal Loans come with the personal service you expect from South Carolina Federal Credit Union.

  • Secured and personal loans.
  • Flexible repayment plans.

Motor homes, motorcycles and travel trailers. If it has wheels and adds some zip to your life, we can provide financing that makes it affordable.

  • Competitive rates.
  • Flexible payment terms.
What our members say
I've been a member for 40 years and have always been happy with their service!

Loan was quick and painless.
 
Read More of this testimonial
- Bill B., Ron A.
My experience with South Carolina Federal Credit Union has been exceptional. They are efficient in executing all business transactions. 
 
- Linda R.
Make informed financial decisions with helpful resources.
Frequently
asked questions
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For all loan requests you will be asked to provide personal information:

  • Name of each applicant
  • Physical address (P.O. Box does not apply)
  • Length of time at address
  • Phone number
  • E-mail address
  • Social Security number
  • Date of birth
  • Income information
  • Name of current employer
  • Employer's address and phone number
  • Length of employment
  • Salary
  • Position held
  • Other applicable income (for example, retirement and/or pension)
  • Current mortgage or rent obligations
  • Name and phone number of nearest relative not living with you
  • Reason for loan application

To apply now, get started with an online loan inquiry, visit a local financial center or contact us.

Loan payment due dates are generally 30-45 days from the loan closing date. The payment due date is notated in your loan documents and agreed upon before disbursement of your loan. Due dates and loan payment amounts can also be viewed through Online Banking, Mobile Banking or statements.

Click here to learn more about how to make a payment online.

A payoff quote is available for all loans and will include accrued interest and the daily per diem.
To obtain today's payoff or a 10 business day payoff quote for auto, boat, recreational vehicle, credit cards, or personal loans, visit a financial center or contact us. Any overage of your payoff will be deposited into your savings account or returned to you in an overpayment check.

For first mortgages, please contact Dovenmuehle at (877) 636-9534.

For second mortgages/HELOCs, please visit a financial center or fax your payoff request to our Fulfillment Operations Team at (843) 737-7400. The request must include:

  • Member name
  • Member Social Security number
  • Account number
  • Payoff (good through) date
  • Return fax number
  • Copy of a signed authorization of release form from member requesting this information.

Once payoff is given, personal access line of credit loans and HELOCs will be locked and no advances can be taken.

Our loans are calculated with simple interest, the calculation of daily accrued interest on your principal loan balance.

Simple interest is calculated and assessed by multiplying the account’s current principal amount (and only the principal) by the interest rate. But as you pay down your principal with each monthly on-time payment, that principal decreases, lessening the interest assessed. If you pay more than the minimum required payment, the principal will decrease even more.
For example, a $25,000 loan at a 7% interest rate would be calculated using the formula (Principal Balance x rate)/ 365 days:

  • $25,000 x 7% = $1,750
  • $1,750/365 days = $4.80 per day