South Carolina Credit Unions laws & compensation compliance analysis

South Carolina Credit Unions: What you need to know

A credit union is a member-owned financial institution organized to encourage savings and to provide loans with competitively low interest rates to members. In South Carolina, as elsewhere, credit unions have evolved into sophisticated financial institutions offering members a variety of services.
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South Carolina has detailed and complex requirements for the formation of credit unions (SC Code Sec. 34-27-10et seq.). Because of the complexity of these laws, an organization seeking to set up a credit union needs expert assistance. It is often easier to join an existing credit union rather than to start a new one.
Advice and assistance are available from:
State Board of Financial Institutions
Examining Division
1015 Sumter Street, Room 309
Columbia, SC 29201
(803) 734-2001
South Carolina Credit Union League
P.O. Box 1787
Columbia, SC 29202
(800) 235-4290
(803) 781-5400

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South Carolina Credit Unions Resources

Type Title
White Papers Credit Union Memberships Can Save Employees Money
See all Credit Unions Resources