Question 1

What is CS Credit Union (CSCU)?

Accepted Answer

CS Credit Union (CSCU) is a member-owned federal credit union headquartered in Catawba, North Carolina, serving approximately 2,800 members with over $29 million in assets. The credit union primarily serves employees and family members of CommScope Inc. and select partner companies in North Carolina.

Operating as a full-service financial institution, CSCU specializes in providing personalized banking services to its employment-based membership community. The credit union is nestled between the foothills of North Carolina and Lake Norman, positioning itself as a community-focused alternative to traditional banks.

Question 2

When was CS Credit Union (CSCU) founded?

Accepted Answer

CS Credit Union was initially chartered in 1986 as MA/-COM Employees Credit Union. The credit union originated as a spin-off from two previous credit unions: Siecor Credit Union and Superior Cable Credit Union.

It was established to serve employees and family members of the forerunner of present-day CommScope, Inc. of North Carolina. The credit union underwent several name changes throughout its history, becoming CommScope Credit Union in 1994. In 2016, the credit union adopted the name "CS Credit Union" to establish a separate brand identity independent of its primary employer group.

In 2021, CS Credit Union was designated an independent business entity separate from CommScope, while retaining CommScope US employees and family members as the core of its field of membership.

Question 3

Where is CS Credit Union (CSCU) headquartered?

Accepted Answer

CS Credit Union is headquartered at 6519 CommScope Road, Catawba, North Carolina 28609. The credit union is strategically located near the CommScope corporate facilities in Catawba County, reflecting its historical roots serving CommScope employees.

Question 4

Where does CS Credit Union (CSCU) operate?

Accepted Answer

CS Credit Union primarily operates in Catawba County, North Carolina, with its main focus on the Catawba and Hickory areas. The credit union's geographic reach extends throughout North Carolina, particularly for real estate lending secured by properties within the state.

The credit union's field of membership is employment-based rather than community-based. Members must have an employment connection to specific companies, though the "once a member, always a member" principle allows individuals to maintain membership even after changing employment.

Question 5

What services does CS Credit Union (CSCU) offer?

Accepted Answer

CS Credit Union provides a comprehensive range of financial services including:

Deposit Accounts: Regular share savings accounts (including custodian accounts for minors), share draft checking accounts, share certificates, Individual Retirement Accounts (IRAs), Christmas Club savings, and Vacation Club savings.

Lending Products: New and used automobile/truck loans, recreational vehicle loans, personal secured and unsecured loans, overdraft protection linked to checking accounts, mortgages (purchase and land), home equity lines of credit (HELOCs) for North Carolina properties, and Visa credit cards.

Digital Banking Services: Internet banking with account management, balance inquiries, fund transfers, and transaction history. The credit union offers a mobile banking app available for iOS and Android devices, featuring remote deposit capture for eligible members, bill pay services, and electronic statements (e-docs and e-Statements).

Additional Services: Visa travel/money cards, Visa gift cards, certified checks, and discounted tickets to local attractions including Biltmore House, Carowinds, Tweetsie Railroad, and the Southern Show.

Question 6

What makes CS Credit Union (CSCU) unique?

Accepted Answer

CS Credit Union distinguishes itself through several key features:

Employment-Based Community Focus: CSCU maintains a close relationship with its core employer groups, primarily serving CommScope employees and their families, along with employees of CPI Satcom & Antenna Technologies, Inc. and select other partner companies. This focused membership creates a tight-knit community of members with shared employment connections.

Lifetime Membership Benefit: The credit union upholds the "Once a Member, Always a Member" philosophy, allowing members to maintain their accounts and services even after changing employment or retiring from the original employer group.

Low Entry Barrier: Membership requires only a $25 minimum deposit in a share savings account, which grants full access to all products and services plus voting rights in Board elections.

People Helping People Philosophy: CSCU emphasizes the cooperative credit union model where member deposits directly fund loans to fellow members, reinforcing the community-focused nature of the institution. The credit union has grown from its 1986 origins while maintaining personalized service for over 35 years.

Question 7

What type of financial institution is CS Credit Union (CSCU)?

Accepted Answer

CS Credit Union (CSCU) is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA) under charter number 66856. As a federal credit union, it operates under federal regulations and supervision.

The credit union functions as a member-owned financial cooperative, meaning members are also owners with voting rights. Unlike traditional banks that operate for profit and serve stockholders, CSCU operates for the benefit of its members, returning earnings through competitive dividend rates, lower loan rates, and reduced fees.

Membership Requirements: Eligibility is based on employment with select employer groups (SEGs). Primary membership is available to employees of CommScope Inc. of North Carolina and its U.S. subsidiaries, employees of CPI Satcom & Antenna Technologies, Inc. in Catawba County, North Carolina employees of GI Communications Division, credit union employees, retirees, and spouses of deceased members.

Immediate family members of existing members—including grandparents, parents, children, siblings, and spouses—are also eligible for full membership privileges. Member deposits are federally insured up to $250,000 by the NCUA, providing the same level of protection as FDIC insurance at banks.

CS Credit Union (CSCU)

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About CS Credit Union (CSCU) in the United States