Credit union
Caro Federal Credit Union
Columbia, South Carolina, Richland County, SC
$175M in total assets and 10,586 members, the 1,389th largest of 4,298 US credit unions and 21st of 45 headquartered in South Carolina.
- NCUA charter
- 24404
- Charter
- Federal
- Chartered
- 1990
- NCUA insured since
- 1981
- Field of membership
- Multiple common bond - primarily educational
- Low-income designation
- Yes
- Website
- http://www.SmartCaro.org
At a glance
Compared with 12 federally insured credit unions in South Carolina with $100 million to $1 billion in assets, as of June 30, 2026.
| Measure | This credit union | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $175M | 8% | $284M | |
| Loans | $110M | 33% | $179M | |
| Deposits (shares) | $150M | 8% | $247M | |
| Members | 10,586 | 2% | 22,469 | |
| Return on assets | 0.37% | 33% | 0.85% | |
| Net interest income to assets | 4.93% | 83% | 3.78% | |
| Efficiency ratio | 93.5% | 92% | 77.5% | |
| Net worth ratio | 15.41% | 92% | 11.63% | |
| Loans to shares | 73% | 42% | 75% | |
| Cost of deposits | 0.84% | 25% | 1.59% |
Ratios are annualized from year-to-date figures. Return on assets uses average assets, as NCUA does. Cost of deposits includes dividends on shares.
Growth
Total assets grew 7.1% a year over 10 years and 9.9% a year over the last 5, including 3 mergers in the last 10 years. Membership grew 10.3% a year over 5 years, to 10,586.
Dashed lines mark larger mergers, listed below.
Mergers and acquisitions
| Closed | Absorbed | Assets at last filing |
|---|---|---|
| Apr 2026 | 1st Cooperative Federal Credit Union Credit union, Cayce, SC | $22M |
| Jan 2026 | Rural Cooperatives Credit Union Credit union, Louisville, KY | $34M |
| Aug 2022 | St Francis Federal Credit Union Credit union, Greenville, SC | $11M |
| Jun 2014 | V A R O No. 319 Federal Credit Union Credit union, Columbia, SC | $1M |
| Jan 2013 | Agfirst Federal Credit Union Credit union, Columbia, SC | $10M |
Where they operate
5 branches in 4 counties.
1 of 5 branch locations are approximate (ZIP code centers).
Largest counties by branches
| County | Branches | Share of all branches | Rank |
|---|---|---|---|
| Richland County, SC | 2 | 1.5% | 20 of 40 |
| Jefferson County, KY | 1 | 0.4% | 32 of 49 |
| Muhlenberg County, KY | 1 | 8.3% | 5 of 8 |
| Greenville County, SC | 1 | 0.5% | 36 of 54 |
Credit unions do not report deposits by branch, so these are branch counts: this credit union's branches against every bank and credit union branch in the county. Rank is among all banks and credit unions with a branch there.
Branches by year
| Year end | Branches | Change |
|---|---|---|
| 2016 | 3 | |
| 2017 | 3 | 0 |
| 2018 | 3 | 0 |
| 2019 | 2 | −1 |
| 2020 | 2 | 0 |
| 2021 | 2 | 0 |
| 2022 | 3 | +1 |
| 2023 | 3 | 0 |
| 2024 | 3 | 0 |
| 2025 | 3 | 0 |
| Jun 2026 | 5 | +2 |
Member-serving offices as listed in NCUA call reports. Changes include branches gained in mergers.
Earnings and credit
Return on assets
Year to date, annualized, with the peer median.
Credit and capital
| This credit union | Peer median | |
|---|---|---|
| Delinquent loans, 60+ days | 0.88% | 0.87% |
| Net worth ratio | 15.41% | 11.63% |
| Loans to shares | 73% | 75% |
Delinquent loans are two or more months past due. Net worth is NCUA's capital measure for credit unions.
Related
Credit unions of similar size in South Carolina
Most branches in Richland County, SC
Figures as of June 30, 2026 from the credit union's NCUA call report (Form 5300), NCUA's credit union locator and FFIEC merger records.