The National Credit Union Administration has approved a field of membership expansion for Myrtle Beach, S.C.-based Carolina Trust Federal Credit Union, which will broaden the credit union’s FOM to include Brunswick County, N.C.
Brunswick County is in southeastern North Carolina, just over the border from Myrtle Beach.
Carolina Trust FCU currently serves approximately 40,000 members and has branches in Myrtle Beach, Surfside Beach, Little River, Conway, Johnsonville and Lake City (all in South Carolina). The credit union explained that after it opened a branch in October 2014 in Little River (which is very close to the North Carolina border), residents of Brunswick County had wanted to join, but were ”unable to open accounts due to the credit union’s restricted field of membership.”
Aside from Brunswick County, the credit union already serves individuals and business owners who live, work (or regularly conduct business in), worship, volunteer or attend school in Horry, Georgetown, Marion and Williamsburg counties, along with the southern part of Florence County, S.C.
“Carolina Trust is excited to bring a lower-cost banking alternative to Brunswick County,” said Tim Carlisle, Carolina Trust’s president and CEO. “The southern part of Brunswick County does not have community access to a credit union, and we are eager to bring our unique style of banking and member service to an area underserved by credit unions.”
Carolina Trust FCU noted that although it has “no immediate plans” to open a facility in Brunswick County, the credit union still offers phone, online and mobile banking services, as well as mobile check deposit, online account opening and loan applications. Carolina Trust FCU is also a member of the nationwide CO-OP Branch and ATM networks.
Carolina Trust FCU posted net income of about $1.55 million last year, down from about $1.73 million in 2016.