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The U.S. Navy closed the Charleston Naval Shipyard and naval base on April 1, 1994, but CNS' member base was robust enough that the credit union was able to withstand the loss. In recognition of the changed environment and the credit union's broad membership, CNS changed its name on August 9, 1994, to South Carolina Federal Credit Union.
State Credit Union, a federal credit union commonly known as "State Credit Union," is headquartered in Columbia, South Carolina.It is the sixth largest credit union in the state measured by asset size, according to National Credit Union Administration [2] reports as of September 2010.
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The Federal Deposit Insurance Corporation federally insures most traditional banks in case of failure. But credit unions are not considered traditional banks. Is a credit union FDIC insured?
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