South Carolina Federal Credit Union grows via merger
The membership of $31 million-asset Health Facilities Federal Credit Union in Florence, S.C. has voted to merge into South Carolina Federal Credit Union.
The merger will take effect in March 2020.
South Carolina Federal has had a presence in Florence since 2016. and the merger will add two additional branches to the SC Fed’s presence there, along with retaining all Health Facilities staff.
Health Facilities FCU CEO Robert Harris will continue in the role of city executive and members will have access to enhanced technology services and additional loan product offerings as a result of the deal.
"The leadership of Health Facilities believes this merger is an opportunity to provide more convenient, competitively priced products and services to our members, while keeping pace with the growth of Florence," Harris said in a statement. "We look forward to the future and serving both the PeeDee region and state of South Carolina."
Scott Woods, president and CEO of South Carolina FCU, said the credit union is proud of its presence in Florence and is eager to deepen its relationship with the community.
Health Facilities FCU reported more than $523,000 in net income for the first three quarters of 2019, up from more than $318,800 during the same period last year.