Part Two, A Conversation with Scott Woods, President of SC Federal Credit Union

Started in 1936 to serve the employees of the Charleston Navy Shipyard, the South Carolina Federal Credit Union has now grown into one of the largest credit unions in the country.  They are the oldest member-owned institution in the Charleston area.  

South Carolina Federal Credit Union has over 150,000 members and offers a full range of financial services including savings and investments, checking, credit cards and loans. Their team’s entire focus is on personally providing the products, services, tools and forward thinking that allow members to focus on making their lives more satisfying.

Credit union membership is ownership. As a not-for-profit, the credit union exists only for the financial benefit of its membership. As a result, South Carolina Federal is able to pay competitive dividends on savings and offer attractive interest rates on loans.  

We sat down to talk with the President of South Carolina Federal Credit Union.  In Part Two of a two part interview, we talk about the credit unions new retail bank of the future initiative; and growth in a highly regulated environment.