Welcome to S.C.I. Federal Credit Union family!!
To become a member, all you have to do is make a minimum deposit of $25 and pay a one-time membership fee of $1. WestRock employees may invite other family members to take advantage of membership in S.C.I. FCU. Eligible family members include:
|Other Family Members
|Employee’s Spouse’s Parents
|Employee’s Siblings and their Spouses
Our membership policy is “Once a member, always a member ”. You must, however, keep the minimum $25 in your share account.
As a member of S.C.I. Federal Credit Union, you are one of the owners—the credit union belongs to YOU! We encourage you to use your credit union and to take full advantage of its many services. Just call or stop by and we will be glad to help you.
S.C.I. Federal Credit Union is a member owned financial institution serving employees of WestRock Corporation who work in Florence, SC; members of this credit union who are retired as annuitants from the above employment and retain their membership in this credit union; employees of this credit union; members of their immediate families; and organizations of such persons.
If you are not a member of S.C.I. Federal Credit Union and wish to find out if you are eligible to join, please call us at (843) 669-3712.
Office Hours: Monday through Friday – 8:30 AM until 5:00 PM
Friday – Drive-through open 5:00 PM until 6:00 PM in addition to regular office hours
The mission of S.C.I. Federal Credit Union is to incorporate sound, systematic savings and loan programs in various fields and services at competitive rates, all with a personal touch and convenience in mind for our members.
Management & Staff
Board of Directors
Daniel L. Broach, President
Franklin Cockfield, Vice President
William N. Leach, Treasurer
Gayle Hutchinson, Secretary
Dyson Caraway, Director
Don Roth, Director
Sam Singletary, Director
Charles Norris, Chairperson
Robert Seastrunk, Manager
Renea Alexander, Member Service Representative
Larry Holmes, Member Service Representative
Chelsey Gasque, Member Service Representative
Funds Availability Act and Regulation CC
This disclosure describes your ability to withdraw funds at S.C.I. Federal Credit Union. It only applies to the availability of funds in transaction accounts. The Credit Union reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts for periods longer than those described in this policy. Please ask us if you have a question about which accounts are affected by this policy. This policy is established in compliance with the Expedited Funds Availability Act and Regulation CC.
S.C.I. Federal Credit Union
Your Ability to Withdraw Funds at S.C.I. Federal Credit Union
Our policy is to make funds from your cash and check deposits available to you on the same business day that we receive your deposit. Electronic direct deposits will be available to you the same day we receive the deposit. At that time, you may withdraw the funds in cash and we will use the funds to pay checks that you have written
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before close of business on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after close of business or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Reservation of Right to Hold
In some cases, we will not make all of the funds that you deposit by check available to you on the same day that we receive your deposit. Those funds may not be available until the second business day after the day of your deposit. However, the first $225.00 of your deposit will be available on the first business day after the day of your deposit. If we are not going to make all of the funds available to you on the date of deposit, we will notify you at the time we make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees or if we decide to take the action after you have left the premises, we will mail you the notice by the next business day after we receive your deposit. If you will need the funds from your deposit right away, you should ask us when the funds will be available.
Holds On Other Funds
If we cash a check that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that you have on deposit in your account with us. Those funds will be available at the time those funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. Those funds in your account would then not be available for withdrawal until the time periods that are described elsewhere in this Disclosure for the type of check that you deposited.
Although funds may have been available to you and you may have withdrawn them, you are still responsible for problems with the deposit, such as checks that are deposited being returned unpaid.
Longer delays may apply
In some cases, we may delay your ability to withdraw funds that you deposit by check you’re your account an additional number of days for these reasons:
- We believe a check you deposit will not be paid
- You deposit checks totaling more than $5,525.00 in one (1) day.
- You deposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the past six (6) months.
- There is an emergency such as a failure of communications or equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons and we will tell you when these funds will be available. They will generally be available to you no later than the seventh business day after the day of your deposit.
Special Rules for New Accounts
If you are a new member, the following special rules will apply during the first 30 days your account is open.
Funds from electronic deposits will be available on the day we receive the deposit. The first $5,525.00 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your deposit. The excess over $5,525.00 will be available on the ninth business day after the day of your deposit. Funds from wire transfers into your account will be available on the first business day after the day we received the transfer. Funds from deposits of cash and the first $5,525.00 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and state and local government checks will be available on the same day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5525.00 will be available on the ninth business day after the day of your deposit. If your deposit of these checks(other than a U.S. Treasury Check) is not made in person to one of our employees, the first $5,525.00 will not be available until the second business day after the day of your deposit. Funds from all other deposits will be available on the thirteenth calendar day after the day of your deposit.
S.C.I. Federal Credit Union Privacy Notice and Disclosure
If after reading this notice you have questions, please contact us at:
S.C.I. Federal Credit Union
PO Box 3258
Florence, SC 29502
Information We Collect About You
We collect nonpublic personal information about you from the following sources:
- Information we receive from you on application and other form
- Information we receive from a consumer reporting agency
- Information obtained when verifying the information you provide on an application or other forms: this may be obtained from your current or past employees, or from other institutions where you conduct financial transactions
We may disclose all of the information we collect, as described above, as permitted by law.
Parties Who Receive Information From Us
We may disclose nonpublic personal information about you to the following types of third parties:
- Financial services providers, such as insurance companies
- Non –financial companies, such as consumer reporting agencies, data processors, check/share drafts printers, plastic card processors, and government agencies
Disclosure of Information to Parties That Provides Services to Us
In order for us to conduct the business of the credit union, we may disclose all the information we collect, as described above, to companies that perform other services on our behalf so that we may provide members competitive products and services. We may also disclose nonpublic personal information about you under circumstances as permitted or required by law. These disclosures typically include information to process transactions on your behalf, conduct the operations of our credit unions, follow you instructions as you authorize, or protect the security of our financial records.
To protect our members’ privacy, we only work with companies that agree to maintain strong confidentially protections and limit the use of information we provide. We do not permit these companies to sell the information we provide to other third parties.
Disclosure of Information About Former Members
If you terminate your membership with S.C.I. Federal Credit Union, we will not share information we have collected about you, except as may be permitted or required by law.
How We Protect Your Information
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, or procedural safeguards that comply with federal regulations to guard your nonpublic personal information.
The Credit Union Web Site
What Members Can Do to Help
S.C.I. Federal Credit Union is committed to protecting the privacy of its members. Members can help by following these simple guidelines:
- Protect your account numbers, plastic card numbers, PINs (personal identification numbers) or passwords never keep your PIN with your card, which can provide free access to your accounts if your card is stolen.
- Use caution when disclosing your account numbers, social security numbers, etc. to other persons. If someone calls you explaining the call is on behalf of the credit union and asks for your account number, you should beware. Official credit union staff will have access to your information and will not need to ask it
- Keep your information with us current. If your address or phone number changes, please let us know. It is important that we have current information on how to reach you. If we detect potentially fraudulent or unauthorized activity or use of an account, we will attempt to contact you immediately.
- Let us know if you have questions. Please do not hesitate to call us —we are here to serve you!
S.C.I. Federal Credit Union
Post Office Box 3258
Florence, SC 29502
Phone: (843) 669-3712
Fax (843) 669- 3851
What’s a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.
Who owns a credit union?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.
How did credit unions start?
The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary’s Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.
What is the purpose of a credit union?
The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.
Are savings deposits insured?
Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.
Who can join a credit union?
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a “field of membership.” The field of membership may include where they live, where they work, or their membership in a social or economic group.
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