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S.C. Federal to acquire Florence-based credit union

Banking & Finance
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S.C. Federal Credit Union will acquire Florence-based Health Facilities Federal Credit Union. The acquisition comes after a membership vote last month.

Maggie Wickey, spokeswoman for S.C. Federal, said Health Facilities will take the North Charleston-based company’s name, and all aspects of the business will come under its umbrella. Terms of the acquisition were not made available by press time.

The acquisition, which is scheduled to be effective March 2, will retain both Health Facilities locations in Florence and all employees, a news release said. Health Facilities CEO Robert Harris will continue in the role of city executive.

S.C. Federal Credit Union, with nearly $2 billion in assets, has been serving members throughout the state for more than 80 years and Florence residents since 2016. The credit union has more than 155,000 members and operates 21 offices statewide.

“We are very proud of our presence in Florence and are thrilled to deepen our community reach by merging with Health Facilities, a strong trusted local entity,” said Scott Woods, president and CEO of S.C. Federal. “Florence is a thriving town and we are committed to providing the best service to our soon-to-be 10,000 members here.”

Harris said the leadership of Health Facilities believes the merger is an opportunity to provide more convenient, competitively priced products and services to members while keeping pace with the growth of Florence.

“We look forward to the future and serving both the Pee Dee region and the state of South Carolina,” Harris said.

Reach Shamira McCray at 843-849-3119.

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