GREENVILLE, S.C. — Members of SC Telco FCU have voted to approve a “spin-off” of the CU’s branch in Florence, S.C. to South Carolina Federal Credit Union. The official transition will occur on Sept. 30, 2018.
In a statement, SC Telco said it 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, S.C., made it difficult and unsustainable to serve the Florence members and employees efficiently, the credit union said.
“In no way was this decision made out of financial necessity,” said Steve Harkins, SC Telco president/CEO. “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.”