Growth of our credit unions
In recent years our credit union network has expanded in North Carolina, South Carolina, California, Greater Chicago, Florida, and Washington to help meet growing needs for affordable banking services.
North Carolina. Over the past decade, Self-Help Credit Union has merged with ten community-focused credit unions. These locally-rooted institutions were seeking to stabilize their operations and increase their products and services. In one recent example, a 2014 merger with Generations Community Credit Union helped to preserve and expand services for predominantly African-American communities in eastern and central NC.
California. In 2008, we starting serving in California as Self-Help Federal Credit Union (SHFCU). SHFCU has grown through eight mergers with community-focused credit unions throughout the state. In Los Angeles, we acquired five stores from a conventional check casher and converted them into a hybrid check casher/credit union model that serves unbanked and underbanked consumers.
Chicago. When federal regulators closed Second Federal Savings and Loan in the Chicago area, Self-Help partnered with local community organizations to keep its branches open and assist customers. In 2012, Self-Help acquired Second Federal S&L and continued service to 14,000 predominantly Latino depositors and borrowers.
Florida. When the leaders of Community Trust Federal Credit Union (CTFCU) in Apopka, Florida needed a merger partner, they sought out Self-Help. In 2016 Self-Help Federal merged with CTFCU, and later CTFCU joined Self-Help Credit Union. We are continuing CTFCU's 30-year legacy of serving farmworkers and other low-income families in Florida.
South Carolina. In 2018, two South Carolina credit unions joined the Self-Help family: Palmetto Trust Federal Credit Union (Columbia) and CommunityWorks Federal Credit Union (Greenville). Palmetto Trust Federal was started to serve local federal employees. CommunityWorks Federal focused on a mission to serve the unbanked or under-banked. Self-Help is continuing and expanding the work these credit unions have started.
Washington. Lower Valley Credit Union merged with Self-Help in 2021. Founded in 1952, Lower Valley is deeply rooted in the Yakima and Wenatchee Valleys of Washington State and well recognized for its vision of ‘Planting Seeds of Opportunity for a Better Tomorrow.'
Through a series of mergers, acquisitions, and new branch launches, Self-Help Credit Union and Self-Help Federal Credit Union together have forged a network of over 71 branches and offices serving more than 188,800 members in eight states.