Carolina Trust Federal Credit Union

What Carolina Trust Federal Credit Union does

Carolina Trust Federal Credit Union is a federally chartered, not-for-profit financial cooperative headquartered in Myrtle Beach, South Carolina, operating since 1958 with roots serving military personnel and a current field of membership covering Horry, Georgetown, Marion, Williamsburg, and southern Florence counties in South Carolina plus Brunswick County in North Carolina. The institution delivers a full-service retail and small-business banking product set through seven physical branches, deposit-capable ATMs, online and mobile banking, digital wallet support (Apple Pay), and the CO-OP shared branching network for nationwide access, with a comprehensive suite spanning multiple checking and savings tiers, certificates and IRAs, HSAs, youth accounts, a Lime-branded Visa credit card family, mortgages, home equity products, auto/boat/RV loans, personal and business loans, insurance, and investment referrals via CBS Investor Connection.

The underlying technology stack is a conventional member-facing digital banking platform: web and mobile account management, bill pay, eStatements, mobile check deposit, card alerts and controls, audio-response phone banking, and integration with Visa card rails and the CO-OP network. The credit union is regulated by the NCUA, with federal deposit insurance to at least $250,000 and NMLS #410644 for mortgage origination; certifications include Equal Housing Lender and ECOA compliance.

The revenue model is a standard credit union net-interest-spread business: interest income on consumer and mortgage loan portfolios (auto, boat/RV, mortgage, HELOC, credit card, personal, business) plus fee and interchange income from overdrafts ($32 courtesy coverage / paid item fees), debit/credit interchange, and ancillary service charges, with member deposits (checking, savings, money market, CDs) funding the loan book. Go-to-market is community-driven: local event sponsorships (CCU, Myrtle Beach Bowl), WBTW News 13 "Financial Friday" media segments, content marketing through an active financial-education blog, and organic social on Facebook and Instagram, targeting individual consumers and small businesses in the coastal Carolinas.

Name

Carolina Trust Federal Credit Union

Legal name

Carolina Trust Federal Credit Union

Website

https://carolinatrust.org

Company type

Private

Founded year

1958

Operating status

Operating

Headcount range

11–50 employees

Short description

Carolina Trust Federal Credit Union is a federally chartered, not-for-profit cooperative bank founded in 1958 and headquartered in Myrtle Beach, SC, serving individual consumers and small businesses across six coastal Carolinas counties through 7 branches, full digital banking, and the CO-OP shared branching network.

Ownership category

akta.pro rank

Product category

Credit Union Banking Services

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Student/University Credit Unions (FSABAEAJ)

Keywords

• Consumer banking services
• Credit union lending
• Mortgage and home equity
• Vehicle and recreational loans
• Small business banking

Headquarters

HQ city

Myrtle Beach

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Loans: Primary revenue source from interest charged on vehicle loans, mortgages, home equity loans, personal loans, credit cards, and business loans. Interest rates vary by product type and member creditworthiness.
2. Fee Income: Various service fees including courtesy coverage/overdraft fees ($32), paid item fees, check ordering fees, and other banking service charges. Also includes interchange income from debit and credit cards.
3. Member Deposits: Accepts member deposits including checking accounts, savings accounts, money market accounts, and certificates. Uses these deposits to fund loans and generates revenue through the spread between loan interest rates and deposit interest rates paid to members.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Carolina Trust Federal Credit Union is a federally chartered, member-owned credit union providing consumer and small business banking products including checking and savings accounts, Visa and Lime-branded credit cards, vehicle and recreational vehicle loans, mortgages, home equity loans and lines of credit, personal and business loans, insurance products, and digital banking services. The institution generates revenue primarily through net interest income on loans funded by member deposits, supplemented by service fees, and serves members through 7 branch locations in South Carolina, a digital banking platform, deposit-capable ATMs, and the CO-OP shared branching network.

Product overview

Carolina Trust Federal Credit Union is a full-service financial institution offering a comprehensive suite of banking products organized around checking and savings accounts, credit cards, loans, insurance, and digital banking services. The core banking platform includes multiple checking account tiers (Rewards+ Checking, Rewards Checking, Essentials Checking, Encore Checking, Money Market Accounts), regular and purpose-specific savings accounts, Certificates and IRAs, Health Savings Accounts, and youth accounts. Credit offerings span the Lime Credit Card family (LimeRewards+, LimeRewards, LimeEssentials), Visa debit and business cards, auto loans including first-time buyer programs, boat and recreational vehicle loans, home mortgages and home equity products (HELOCs and home equity loans), personal loans for debt consolidation and credit building, student loans, and business loans. Insurance products include auto/home, whole life, accidental death & dismemberment, GAP protection, and mechanical repair coverage. Digital banking includes online/mobile banking, digital wallets with Apple Pay support, card controls, and audio response phone banking. The institution operates seven branch locations serving Horry, Georgetown, Marion, Williamsburg, and southern Florence County in South Carolina, plus Brunswick County in North Carolina.

Differentiator

Problem solved

Functional benefit

Brands

• Lime Credit Cards: Brand name for credit card products including LimeRewards+, LimeRewards, and LimeEssentials Visa cards
• Coastal Carolina University Partnership
• Myrtle Beach Bowl Partnership

Products and services

• Rewards+ Checking Premium checking account offering up to 2.00% APY, enhanced rewards, and additional benefits for qualifying members.
• Rewards Checking Checking account offering cash rewards and competitive rates for members who meet certain criteria.
• Essentials Checking Basic checking account with essential features and low or no monthly fees for everyday banking needs.
• Encore Checking Checking account designed for members over age 50 with senior-friendly features and benefits.
• Money Market Accounts Savings account with competitive interest rates offering a balance between accessibility and higher yields than regular savings.
• Regular Share Savings Basic savings account establishing member ownership in the credit union with a minimum deposit.
• Certificates and IRAs Certificate of Deposit (CD) products and Traditional and Roth IRAs for retirement savings with tax-advantaged growth.
• Health Savings Account (HSA) Tax-advantaged savings account for qualified medical expenses, available to members with high-deductible health plans.
• Youth Accounts (Goal Club Youth Savings and Checking) Banking products designed for young members, including Goal Club Youth Savings and Goal Club Youth Checking accounts.
• LimeRewards+ Visa Signature Credit Card Premium Visa Signature credit card with rewards, travel benefits, and Visa Signature perks for high-spending members. Rates as low as 11.74% APR.
• LimeRewards Visa Credit Card Standard rewards credit card offering cash back or points on purchases.
• CCU Athletics Visa Credit Card Co-branded credit card supporting Coastal Carolina University Athletics with affiliated rewards.
• Visa Secured Credit Card Secured credit card requiring a deposit, designed for members building or rebuilding credit.
• Auto Loans Vehicle financing for new and used automobiles with rates as low as 4.75% APR and flexible terms.
• Boat Loans Financing for recreational watercraft including boats and personal watercraft.
• Recreational Vehicle Loans Loans for RVs, motorhomes, ATVs, jet skis, and motorcycles with promotional rates including 3.99% APR from May 14 - July 31. Includes 0.25% rate reduction for automatic draft.
• Mortgages Home purchase loans including conventional fixed-rate and adjustable-rate mortgages with rates as low as 5.229% APR.
• Home Equity Lines of Credit (HELOC) Revolving credit line secured by home equity, allowing members to borrow as needed up to a set limit.
• Home Equity Loans Fixed-rate loans disbursed in a lump sum using home equity as collateral for major expenses.
• Debt Consolidation Loan Personal loan designed to combine multiple debts into a single payment, potentially at a lower interest rate.
• Credit Builder Loan Loan designed to help members establish or improve their credit history.
• Personal Line of Credit Revolving credit account for personal use with flexible borrowing and repayment options.
• Student Loans Financing options for educational expenses including potential refinancing of existing student loans.
• Business Loans Commercial lending products including business lines of credit, term loans, and commercial real estate financing.
• Business Checking Checking account tailored for business needs with features for managing cash flow and transactions.
• Business Saving Account Savings account for business owners to set aside funds for business expenses or reserves.
• Visa Business Platinum Credit card designed for business owners with spending controls, reporting, and rewards.
• Insurance Products (Auto, Home, Life, GAP, Mechanical Repair) Insurance offerings including auto and home insurance, accidental death and dismemberment, whole life insurance, GAP protection, mechanical repair coverage, and debt protection with life plus.
• Safe Deposit Boxes Secure storage service for valuable documents and items at select branch locations.
• Digital Banking Platform Online and mobile banking platform providing 24/7 account access, bill pay, transfers, mobile check deposit, and account management.
• Investments (CBS Investor Connection) Third-party investment services through CBS Investor Connection for retirement planning and wealth management.
• Identity Theft Protection Monitoring and protection services to help members safeguard against identity theft and fraud.

Quantifiable outcome

• Checking accounts with up to 2.00% APY
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Myrtle Beach BowlminorGTM or Marketing Partner · 7 November 2022Sponsorship of the Myrtle Beach Bowl college football game, supporting local sports and community engagement in the Grand Strand area.
• Coastal Carolina UniversitycoreStrategic or Co-development Partner · 5 December 2019Partnership providing banking services to CCU students, faculty, and staff. Includes scholarship opportunities and co-branded credit card (CCU Athletics Visa Credit Card). The credit union actively supports the university through various initiatives.
• WBTW News 13 - Living Local CarolinaminorGTM or Marketing PartnerRegular Financial Friday segment on the Living Local show featuring Carolina Trust mortgage and home equity products, with Brand Ambassador August Mize and Mortgage Loan Officer Kelly Rowland.
• CO-OP NetworkcoreTechnology or IntegrationShared branching and surcharge-free ATM network providing members access to thousands of credit union branches and ATMs nationwide. Enables members traveling or relocating to conduct transactions at partner credit unions.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Truliant Federal Credit Union: Mid-sized community credit union headquartered in Winston-Salem, NC, with a full suite of consumer and business banking products across the Carolinas. Directly comparable in cooperative structure, product breadth, and Carolinas service area.
• Palmetto Citizens Federal Credit Union: Columbia, SC-headquartered community credit union serving members across South Carolina with deposit, lending, and digital banking products. Same cooperative model and overlapping Carolinas membership.
• Founders Federal Credit Union: Lancaster, SC-based community credit union with broad consumer and mortgage lending products. Comparable in member-owned structure, geographic focus within South Carolina, and full-service banking offering.
• SRP Federal Credit Union: South Carolina community credit union offering checking, savings, mortgages, and consumer loans. Directly comparable in cooperative structure and regional Carolinas footprint.
• Coastal Federal Credit Union: North Carolina-headquartered community credit union serving a similar coastal-Southeast membership with checking, savings, mortgages, and consumer lending. Comparable in scale and product mix to Carolina Trust FCU, providing a close regional peer benchmark.
• Spero Financial Federal Credit Union: South Carolina-based community credit union offering personal banking, mortgages, and consumer loans to a defined membership field. Closely comparable as a SC community cooperative serving similar demographic segments.

Broad incumbents

• State Employees' Credit Union (SECU): One of the largest credit unions in the US, headquartered in Raleigh, NC, with statewide membership and a comprehensive banking, lending, and investment platform. Serves as the broad incumbent reference point against which smaller Carolinas community credit unions like Carolina Trust compete.

Regional players

• Conway National Bank: Conway, SC-based community bank operating in the same Horry County service area as Carolina Trust. Comparable as a regional deposit and consumer lender competing for the same coastal SC household relationships.
• Local First Bank: Community bank serving the Myrtle Beach/Grand Strand area of South Carolina with deposit, lending, and treasury products. Directly comparable by geography and customer base, though organized as a bank rather than a cooperative.

Emerging players

• Alliant Credit Union: Large digital-first US credit union with no community membership field, competing for the same consumer deposits and lending relationships nationally. Represents the digital-native competitive pressure facing traditional community credit unions like Carolina Trust.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/carolinatrustfcu
• Instagraminstagram.com/carolinatrustfcu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carolina Trust Federal Credit Union