Reflecting on 2024: A Year of Growth, Service, and Innovation
As we look back on 2024, it’s clear this year has been one of remarkable growth, unwavering dedication, and exciting innovation at Mid Carolina Credit Union (MCCU). From new services and community involvement to significant milestones in lending and membership, we are proud to share the highlights of our journey with you. As CEO, I am most proud of our employees, whose hard work and commitment to excellence have been the driving force behind every achievement this year.
Supporting Our Community
At MCCU, community is at the heart of everything we do. In 2024, we contributed over $40,000 in community sponsorships and donated $18,000 to support local school activities. Our commitment to education continued with four $500 scholarships awarded to deserving student members.
We also held three successful shred events, helping our community securely dispose of 16,960 pounds of confidential documents while promoting sustainability. Additionally, our incredible team of employees volunteered 350+ hours at local events, fostering meaningful connections and giving back in every way possible.
Empowering Members Through Financial Solutions
2024 saw exciting new additions to our suite of products and services to better serve our members. These include:
Online Account Opening: Opening accounts is now easier than ever, with members and new applicants able to open savings, checking, certificates, and more directly online.
Message Pay: A convenient way to make payments online — streamlining the experience for members.
External Transfer: Allowing members to transfer funds seamlessly between MCCU and other financial institutions.
Additionally, we launched the Adjustable Rate Mortgage (ARM) product to provide more flexible lending options. This year, MCCU granted 2,553 new loans, totaling over $27.2 million. Of those, 533 new vehicle loans contributed to members hitting the road with confidence.
Investing in Growth & Expansion
2024 marked the opening of our newest branch in the Sandhills area of Richland County, a significant investment of over $200,000 in hard costs and additional spending on marketing and personnel. This expansion is part of our ongoing commitment to making MCCU services accessible to even more communities.
Looking ahead, we are already planning for a new branch in Elgin, with construction slated for late 2025 or early 2026.
Celebrating Milestones
This year, we were thrilled to welcome 1,418 new members to the MCCU family and paid out $1.1 million in dividends to existing members, demonstrating our dedication to giving back to those who trust us with their financial well-being. In addition, we waived significant statement fees, putting more money back into the pockets of our members.
A Commitment to Security and Innovation
Our IT team worked diligently in 2024, completing several projects to enhance member security and operational efficiency, including the Windows 11 migration and implementing high-security badge readers. In the branches, we upgraded the drive-up systems in Camden to improve the member experience.
Looking Ahead to 2025
As we transition into the new year, we are excited to introduce contactless credit cards, further enhancing convenience and security for our members. We are also bolstering cybersecurity measures and planning additional mortgage and construction loan products to support your financial goals.
From all of us at Mid Carolina Credit Union, thank you for making 2024 a truly special year. Here’s to an even brighter 2025 as we continue to grow, serve, and innovate together!
Dean Scarborough
CEO, Mid Carolina Credit Union