[Durham, NC] — Self-Help Credit Union (www.self-help.org) announced today that it has officially transferred its South Carolina membership to its sister institution, Self-Help Federal Credit Union (Self-Help Federal). The change, approved by Self-Help members in August, allows the credit union to not only broaden its area of reach in the state, but also enhance member services and accomplish its long-term growth strategy.
As of September 1, 2025, all Self-Help branches located in South Carolina will become part of Self-Help Federal. The Self-Help board of directors voted for the transfer unanimously. Credit Union members approved the transfer on August 26.
“Transitioning to a federal charter In South Carolina is an exciting step forward for our members and our community,” said Randy Chambers, president of Self-Help Credit Union. “This change positions us to serve a larger membership base, expand access to our products and services, and ensure that we remain a strong, competitive financial partner for years to come.”
As a federally chartered credit union, Self-Help Federal can expand to more regions in the state, making it possible for more individuals and families to benefit from the credit union’s not-for-profit, member-owned structure and its commitment to ownership and opportunity for all.
Importantly, the transfer, called a “spin off” in credit union terms, will not affect existing member accounts, services, or insurance. All deposits will continue to be federally insured by the National Credit Union Administration (NCUA) up to $250,000 per account. Members should see no interruption to their accounts, loans, or on-line services. New signage with the Self-Help Federal logo will be visible in coming months.
“This conversion reflects our commitment to growing with our members and providing them with fair, affordable, and innovative financial solutions,” added Veronica Casillas-Madrigal, president Self-Help Federal. “We look forward to welcoming new members and continuing to strengthen our impact in the communities we serve.”
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About Self-Help Credit Union
Self-Help Credit Union was chartered in 1983 to build a network of branches that partner with working families and communities often underserved by the financial marketplace. With over $2.09 billion in assets and serving more than 105,000 members in 40 branches – ten in Florida, one in Georgia, 24 in North Carolina, and one in Virginia - Self-Help Credit Union is one of the fastest-growing community development financial institutions in the country. It is part of the Self-Help family of nonprofit organizations whose collective mission is to create and protect ownership and economic opportunity for all.
For over 40 years, the National Center for Community Self-Help and its affiliates have provided more than $12 billion in financing to help more than 174,000 borrowers buy homes, start and grow businesses, and strengthen community resources. For more information, please visit www.self-help.org.
FOR IMMEDIATE RELEASE:
For More Information, Contact:
Jenny Shields, Director of Media Relations, Self-Help Credit Union
Direct Line: 919.794.6798 | Cell: 919.584.4379 | Email: Jenny.Shields@self-help.org
919.794.6798 | Cell: 919.584.4379 | Email: Jenny.Shields@self-help.org