Two South Carolina credit unions to merge | Credit Union Journal

South Carolina Federal Credit Union in North Charleston, South Carolina, is planning to merge with G.H.S. Federal Credit Union in Greenville, South Carolina.

The $2.4 billion-asset South Carolina FCU said it will join with the $56 million-asset G.H.S. Federal and provide its new members with access to an expanded suite of financial services such as mortgage lending and investment and retirement offerings. The merger is expected to be finalized on April 30.

“Greenville is an incredible city that has experienced significant growth in a relatively short period of time,” Scott Woods, president and CEO of South Carolina FCU, said in a press release Tuesday. “We are thrilled to be planting roots in Greenville and are looking forward to welcoming G.H.S. members into our credit union family.”

Upon completion of the merger, the newly combined credit union will operate under the South Carolina FCU name and is expected to retain all employees of the Greenville-based institution. Current G.H.S. president Frank Rivers will retain a leadership position overseeing the Greenville market.

“We began serving the Greenville area in 1954, and today we have more than 11,000 members,” Rivers said in the release. “Merging with South Carolina Federal will help us better serve our members and do even more for our community.”

The North Charleston-based credit union previously underwent several mergers within South Carolina in 2020, as it joined with Charleston County Teachers Federal Credit Union in Charleston, Health Facilities Federal Credit Union in Florence and Spartan Federal Credit Union in Spartanburg.