SC Telco Federal Credit Union Announces Sale of the Florence Branch and Spin-off of Florence Members to South Carolina Federal Credit Union

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SC Telco Federal Credit Union members voted to approve a “spin-off” of the Florence Branch operations to South Carolina Federal Credit Union on June 13, 2018.   The official transition will occur on September 30, 2018.

SC Telco came to the difficult, but intentional decision in an effort to use all member resources wisely and efficiently across the upstate and midlands.  The geographic location of the Florence branch, in relation to the credit union’s headquarters located in Greenville, SC made it difficult and unsustainable to serve the Florence members and employees efficiently.

Steve Harkins, SC Telco President/Chief Executive Officer commented, “In no way was this decision made out of financial necessity. In fact, we have never been stronger financially. This was a win-win for both credit unions as we look to redistribute resources to the Upstate which is the fastest growing area in South Carolina.  They have agreed to retain all staff so members will continue to see the same friendly faces that have been serving them for many years.”

 

About SC Telco: SC Telco Federal Credit Union was chartered in 1935 as a not-for-profit financial cooperative, and today has over 50,000 members and $370 million in assets.  Headquartered in Greenville, South Carolina, the credit union’s footprint spans the Upstate, Midlands and Pee Dee of South Carolina with branches in Greenville, Taylors, Easley, Spartanburg, Columbia, and Florence.