Credit Union Day at State House Highlights Importance of Expanding Financial Choice for Public Entities

Event Connects Lawmakers with Credit Union Leaders Serving More Than 1.7 million South Carolinians

South Carolina credit unions hosted their first-ever Credit Union Day at the State House, providing legislators with a meaningful, firsthand view of the community impact of these member-owned financial institutions. The Palmetto Public Deposits Coalition (PPDC) noted that this perspective is especially important as policymakers consider updates to public deposits law that would allow public entities to bank with credit unions.

Hosted by the Carolinas Credit Union League (CCUL), the event brought together credit union CEOs and senior leaders from across the Palmetto State for a full day of engagement with lawmakers and staff. Leaders from across the state engaged with lawmakers to share how credit unions serve families, small businesses, and local governments every day.

Representative Brandon Newton (R-Lancaster) and Senator Russell Ott (D-Calhoun) spoke to over 40 credit union executives and employees from across the state, sharing perspectives on the legislative environment and hearing directly from credit union representatives about the work they are doing in their communities.

Credit union representatives were formally recognized in both chambers of the General Assembly, where lawmakers welcomed South Carolina’s credit unions to the State House by recognizing the vital role they play in communities across the Palmetto State. Members noted that, as not-for-profit and member-owned institutions serving more than 1.7 million South Carolinians, credit unions provide affordable financial services, support small businesses, help families build financial security, and reinvest locally to strengthen the state’s economy from the Upstate to the Lowcountry.

As a coalition partner in PPDC, CCUL’s leadership led efforts to organize the event and provide lawmakers with a valuable opportunity to connect directly with the people leading financial institutions rooted in their districts and communities.

“This kind of direct engagement is incredibly important,” said Billy Boylston, Vice President of Governmental Affairs for CCUL. “When lawmakers can sit down face-to-face with credit union CEOs and leadership from their own communities, it puts a real-world perspective behind the policies we discuss in Columbia, like expanding access for public deposits to credit unions. It helps them better understand how credit unions serve families, small businesses, and local governments every day.”

PPDC leaders noted that Credit Union Day helped advance broader understanding among legislators and staff of credit unions’ economic footprint and the practical, community-level impact of allowing public entities greater flexibility in where they deposit taxpayer funds.

“When lawmakers see the breadth of credit union leadership engaged at the State House and hear directly about their service to more than 1.7 million members, it reinforces why updating public deposits law is about more than banking,” said PPDC Chairman Rick Osbon. “It’s about creating choice, encouraging competition, and ensuring taxpayer dollars are managed as efficiently and effectively as possible for local communities.”

PPDC continues to advocate for updating the public deposits law, noting that greater choice and competition in the marketplace lead to stronger outcomes for taxpayers and communities alike across the Palmetto State.

About the Palmetto Public Deposits Coalition

The Palmetto Public Deposits Coalition is an alliance of community leaders, credit unions, and local government associations advocating for a more competitive environment for returns on taxpayer dollars to empower South Carolina communities. The coalition is committed to ensuring that public funds are managed responsibly, with the best interests of South Carolina’s communities in mind. For more information about the Palmetto Public Deposits Coalition, please visit palmettopublicdeposits.com.