GKCU... We're Here for you!

In 1952 the employees of International Paper Company decided to pool their resources together and form a financial cooperative to serve their everyday and long term needs. Over the years, we have expanded to include anyone who lives, works, or attends school in Georgetown and Williamsburg counties so they can experience the credit union difference!

Offering a variety of services that can meet the needs of your family, GKCU is here for you... come see what we can do for you. Stop by or click through our website to see the products and services available to you, along with our competitive rates and friendly service, you will soon see why GKCU will be your credit union... for life!

Credit union vs. Bank? What's the Difference?
The biggest difference is... YOU! As a credit union member - you are also an owner! Unlike for-profit financial institutions, credit union are owned by its members and governed by a member-elected board of directors. Our primary purpose is to encourage savings through various types of investment plans, and to provide low cost loans and other financial services needed by our members. As a full-service, non-profit financial institution, we continue to search for and implement new and improved services and benefits for our members. Those savings are used to make loans to members at favorable rates, as well as provide other financial services.

Are credit unions safe?
You can trust your money is safe with us. GKCU, as a state-chartered credit union, is closely regulated by state and federal entitities as well as perform quarterly and annual interal audits by outside firms. Credit Unions were created as a safe place for people to save and borrow money, and historically have operated in a conservative manner.

Deposits in all South Carolina credit unions are insured up to $250,000 by the National Credit Union Administration (NCUA) insurance program, which is the strongest of all federal financial institution insurers.

The history of credit unions
The first credit union was created in 1849 in southern Germany when poor farmers got together to pool their money. The amount needed by these borrowers was too small for existing financial institutions to lend without charging excessive interest rates. The collateral available for securing consumer loans was usually deemed inadequate to allow institutions to offer any loans to consumers. Credit unions were established as a result of combining the savings and borrowing needs of consumers.

Credit unions came to Canada in 1900. The first U.S. credit union was founded in 1909 in New Hampshire. The credit union idea spread quickly after 1934, when federal legislation was passed permitting the creation of credit unions anywhere in the country. Today there are over 9,800 credit unions in the United States and 90 million members.

People Helping People: A philosophy that works
Today's financial world is competitive and complex. Just about anybody these days can offer financial services.

Players in the financial game try to differentiate themselves and their services from the rest of the marketplace. However, credit unions have something that truly sets them apart from all other financial institutions: the credit union philosophy. Credit unions offer a philosophy of cooperation and service...a philosophy that actively puts dollars into members' pockets instead of taking them out.

The credit union philosophy of "people helping people" and our not-for-profit, democratic structure makes us different from all other financial institutions. Remember that the credit union objectives are:

• To protect, preserve, and safeguard the assets of the member-owners.
• To offer financial services(s) of high quality at fair rates.
• To educate members in sensible money management to improve their financial condition.
• To promote the credit union philosophy.

These ideas are demonstrated each and every day through the service credit unions provide their members.