Question 1

What is Family Trust Federal Credit Union (Family Trust FCU)?

Accepted Answer

Family Trust Federal Credit Union (Family Trust FCU) is a not-for-profit, community-chartered federal credit union serving members across multiple counties in South Carolina and North Carolina. Headquartered in Rock Hill, South Carolina, the credit union operates with over $766 million in assets and serves more than 58,000 members.

Family Trust FCU provides comprehensive financial services including share accounts, checking accounts, loans, and digital banking solutions. As a member-owned cooperative, the credit union focuses on delivering lower fees, competitive loan rates, and higher dividend rates compared to traditional banks.

Question 2

When was Family Trust Federal Credit Union (Family Trust FCU) founded?

Accepted Answer

Family Trust Federal Credit Union was founded on February 26, 1957, when it was originally chartered by the Federal Bureau of Credit Unions as Rock Hill Printing & Finishing Federal Credit Union. The credit union was established to help textile workers at the Rock Hill Printing & Finishing plant consolidate debts and save for important life milestones.

The credit union initially operated from a stock room, with the plant generously providing office space at no charge. As membership grew, the company increased the space allocation until the credit union was able to build on its own property in 1967. In 1982, the credit union expanded its membership to include employees from Rock Hill School District Three and Ebenezer Nursing Home.

In 1988, the credit union changed its name to Family Trust Federal Credit Union to better reflect its increasingly diverse membership base. A pivotal transformation occurred in October 2000 when Family Trust obtained a community charter, allowing it to serve anyone who lives, works, worships, or attends school in York County, South Carolina. Over the decades, Family Trust has grown from $92,000 in assets and 1,825 members to its current size, celebrating more than 65 years of service to the community.

Question 3

Where is Family Trust Federal Credit Union (Family Trust FCU) headquartered?

Accepted Answer

Family Trust Federal Credit Union is headquartered at 225 White Street West, Rock Hill, South Carolina 29730. The credit union opened its current headquarters building in September 2015 on the original piece of property owned by the institution.

The headquarters building reflects the credit union's deep connection to the community and the region's textile heritage. Family Trust commissioned six Winthrop University students to create custom artwork for the building, asking them to study the history of Rock Hill, the Textile Corridor, and the credit union itself. This $50,000 investment in local art demonstrates the credit union's commitment to supporting education and preserving regional history.

Question 4

Where does Family Trust Federal Credit Union (Family Trust FCU) operate?

Accepted Answer

Family Trust Federal Credit Union operates multiple branches throughout South Carolina and has expanded its service area beyond its original York County base. The credit union opened its first Greenville, South Carolina branch in 2024 at 1800 Laurens Road, marking a significant geographic expansion.

Membership is available to individuals who:
• Live, work, worship, or attend school in the following South Carolina counties: Anderson, Cherokee, Chester, Greenville, Greenwood, Lancaster, Laurens, Oconee, Pickens, Spartanburg, Union, or York County
• Live, work, worship, or attend school in the following North Carolina counties: Cleveland, Gaston, Lincoln, or Mecklenburg County
• Have an immediate family member or household member who is already a Family Trust FCU member
• Are employees of specific Select Employee Groups (SEGs) that have partnerships with the credit union

This community charter structure allows Family Trust to serve a broad geographic area across the Carolinas, with a particular focus on the Rock Hill, Fort Mill, Clover, York, and Greenville regions.

Question 5

What services does Family Trust Federal Credit Union (Family Trust FCU) offer?

Accepted Answer

Family Trust Federal Credit Union offers a comprehensive suite of financial products and services designed to meet diverse member needs:

Share and Deposit Accounts:
• Prime Share Savings Accounts
• Money Market Accounts with tiered dividend rates
• PayBack Savings Accounts
• Christmas Club and Special Club Savings Accounts
• Explorer's Club Savings Accounts (youth accounts)
• Checking accounts including high-yield options
• Certificates of Deposit (CDs) with various terms
• Individual Retirement Accounts (Traditional, Roth, and SEP IRAs)
• Health Savings Accounts (HSAs)
• Education Savings Accounts

Loan Products:
• Auto loans for new and used vehicles
• Mortgage loans and home equity lines of credit
• Personal loans (secured and unsecured)
• Motorcycle, boat, and RV loans
• Share-secured and certificate-secured loans

Digital Banking Services:
• Mobile banking app with remote check deposit
• Online banking platform for account management
• Mobile wallet compatibility
• Bill pay services
• Account-to-account transfers
• Zelle person-to-person payment integration
• Card management features (turn cards on/off, set spending limits)
• TouchID and Face ID login capabilities
• Fast balance checking without full login
• Credit score monitoring

Additional Services:
• Financial education workshops
• Community partnership programs
• Business banking services

Question 6

What makes Family Trust Federal Credit Union (Family Trust FCU) unique?

Accepted Answer

Family Trust Federal Credit Union distinguishes itself through several unique characteristics and community-focused initiatives:

Member-First Philosophy: As a not-for-profit cooperative, Family Trust operates under the credit union philosophy of "people helping people." Members are owners, and the institution returns profits through lower fees, competitive loan rates, and higher dividend rates rather than maximizing shareholder returns.

Community Investment: Family Trust maintains a strong commitment to York County and surrounding communities through extensive local partnerships. In 2020, the credit union established membership as a Corporate Visionary member of the Community Partnership Foundation, demonstrating long-term dedication to strengthening local communities through charitable giving and volunteer work.

Educational Partnerships: The credit union has developed innovative relationships with Winthrop University, including commissioning student artwork for its headquarters, partnering with business and graphic design classes for market research, and working to establish a student-run branch in the university's student center. These partnerships provide students with real-world professional experience while connecting the credit union to emerging talent.

Low-Income Designation: Family Trust holds a low-income designation from NCUA, reflecting its commitment to serving diverse economic communities and expanding financial access to underserved populations.

Loyalty Programs: The credit union offers loyalty rate discounts on loans for members who maintain certain account relationships, rewarding long-term member engagement with enhanced financial benefits.

Question 7

What type of financial institution is Family Trust Federal Credit Union (Family Trust FCU)?

Accepted Answer

Family Trust Federal Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). As a federal credit union, Family Trust operates under federal charter and is subject to NCUA oversight rather than state-level regulation.

The credit union operates as a not-for-profit cooperative where members are also owners. Each member has equal voting rights regardless of account balance, embodying democratic governance principles. Deposits are insured up to $250,000 per depositor through the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States government.

Family Trust holds a community charter, which allows it to serve a geographically defined area rather than being limited to a single Select Employee Group (SEG). This charter type, obtained in October 2000, enables the credit union to serve anyone who lives, works, worships, or attends school within its designated field of membership, which spans multiple counties across South Carolina and North Carolina.

As a federal credit union with a low-income designation, Family Trust is exempt from federal income taxation and most state taxes (with the exception of certain property taxes), allowing it to direct more resources toward member services and competitive rates.

Question 8

How does Family Trust Federal Credit Union (Family Trust FCU) support local communities?

Accepted Answer

Family Trust Federal Credit Union has built its identity around deep community engagement and support for the regions it serves. The credit union's community involvement extends beyond traditional financial services to encompass education, arts, and economic development.

Arts and Education: Family Trust has pioneered unique partnerships with Winthrop University in Rock Hill, commissioning local art students to create works celebrating the region's textile heritage and the credit union's history. The credit union has invested significantly in providing students with professional-level experiences, including art commissions, business consulting projects, and market research opportunities.

Economic Development: The credit union actively participates in Rock Hill's economic revitalization efforts. When city leaders sought to transform the downtown area into a vibrant economic and cultural center, Family Trust responded by relocating its headquarters to downtown Rock Hill rather than building a branch location. This decision supported the broader community vision of attracting headquarters operations to strengthen the local economy.

Financial Education: Family Trust offers financial literacy workshops, educational resources, and money management training programs, particularly targeting students and youth. The credit union partners with local schools and organizations to promote financial capability across generations.

Charitable Support: Through its Corporate Visionary membership in the Community Partnership Foundation and other initiatives, Family Trust provides ongoing support to local charities, schools, and nonprofit organizations throughout its service area.

This multi-faceted approach to community involvement reflects the credit union's founding principle that success is measured not just by financial metrics, but by the positive impact on members' lives and the strength of the communities served.

Family Trust Federal Credit Union (Family Trust FCU)

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About Family Trust Federal Credit Union (Family Trust FCU) in the United States