Truliant FCU Launches Major Expansion in South Carolina
Winston-Salem, N.C., credit union adding four locations south of the border.
Truliant Federal Credit Union, which has most of its 31 of its 35 locations in its home state of North Carolina, is planning a major expansion in South Carolina.
Truliant of Winston-Salem, N.C., ($3.95 billion in assets, 293,790 members as of June 30) had only one location in South Carolina for 28 years until its opening this month of the Truliant Upstate Regional Office in downtown Greenville’s historic district.
The Upstate locations will form the fourth regional concentration of Truliant branches. The biggest is the Piedmont Triad area of North Carolina, which includes Winston-Salem, Greensboro and High Point. The other regions are the Charlotte metro area and southwestern Virginia, where it has three branches.
Truliant announced the expansion Tuesday during its ribbon-cutting for the regional office. The three-story, 19,000-square-foot building was constructed in 1920. Truliant bought the building in 2021 and renovated it to support commercial lending, financial advisors, community outreach and mortgage services.
In addition to the regional office, Truliant plans to open three branches in the Upstate by the end of 2023.
The first is a newly constructed branch office at 6 State Park Road in the Cherrydale Point shopping center that will open in November.
It will be followed by new branches in Easley, in neighboring Pickens County, in early 2023, and one later in 2023 in Greer — a city at the border of Greenville and Spartanburg counties that has been home to BMW’s only U.S. car plant since 1994.
“These locations reflect our commitment to the entire Upstate region and are part of a continued effort to provide residents with excellent financial services,” Hall said. “It will help drive more job creation and commercial lending growth, reinforcing the Upstate’s reputation as a commercial center.”
Truliant said it is dedicating a significant portion of the regional office to an onsite training center that can accommodate up to 18 employees. The South Carolina expansion will create more than 60 jobs over the next several years, including branch staff, ancillary services, support services and back-office roles.
Truliant President/CEO Todd Hall said the Upstate of South Carolina, which includes counties crossed by Interstate 85, will represent a significant percentage of Truliant’s expansion in the next several years.
“Our contiguous strategy south along the I-85 corridor is the next logical step for Truliant,” Hall said. “We see a great opportunity in the Upstate market. This area aligns perfectly with our growth strategy.”
Truliant entered South Carolina in 1994 when JPS Textile Group, a leftover from the 1988 breakup of J.P. Stevens & Co., became a membership segment of Truliant. Truliant’s sole South Carolina branch has been in Greenville, and since 2016 it has been on Pelham Road.
“Truliant has a long history in Greenville, and we plan to do here what we do best: Offer great value to our members and provide straightforward financial solutions that helps them meet their goals,” Hall said.
Greenville is the largest county in South Carolina’s Upstate. Other Upstate counties are Spartanburg, Anderson, Oconee, Pickens, Laurens, Cherokee and Union.
NCUA data shows 23 credit unions had 85 branches and other offices in the Upstate as of June 30. Of those, the nine credit unions that had at least five Upstate branches accounted for 59 of the branches. They are:
- CPM Federal Credit Union, North Charleston, S.C. ($587 million, 61,248 members) has six locations.
- Carolina Foothills Federal Credit Union, Spartanburg, S.C. ($190.2 million, 17,992 members) has six locations.
- Founders Federal Credit Union, Lancaster, S.C. ($3.9 billion, 247,175 members) has nine locations.
- Greenville Federal Credit Union, Greenville, S.C. ($411.3 million, 33,145 members) has five locations.
- MTC Federal Credit Union, Greenville, S.C. ($264.7 million, 17,101 members) has five locations.
- S.C. State Federal Credit Union, Columbia, S.C. ($1.3 billion, 84,367 members) has six locations.
- South Carolina Federal Credit Union, North Charleston ($2.6 billion, 174,736 members) has six locations.
- Spero Financial Federal Credit Union, Greenville, S.C. ($594.8 million, 50,226 members) has 10 locations.
- Upstate Federal Credit Union, Anderson, S.C. ($116 million, 15,224 members) has five locations.