To ensure continued and exceptional service for its members, St. Francis Federal Credit Union has merged with industry leader Caro Federal Credit Union. For Caro, the merger serves as a transformational opportunity to serve new and existing relationships in the Upstate of South Carolina.
For the well capitalized Greenville-based St. Francis, which has served Bon Secours St. Francis Health System since 1966, the merger is a key growth driver to maximize efficiencies and enhance products and delivery channels for members – all while retaining its entire team, programs and services, and existing location.
“The merger brings together two great institutions, and we are delighted to join the Caro family,” said former St. Francis CEO Katia Marini-Nunez. “Our plan is to leverage our combined resources – to truly be financial experts for members in the greater Greenville area.”
Located across the street from St. Francis Downtown at 121 Sumner St., the new Greenville branch of Columbia-based Caro is less than five minutes away from the high growth areas of Greenville’s West End Historic District and the Village of West Greenville. The credit union has two locations in Columbia and boasts a straightforward vision of “real solutions for real people.”
“Both Katia and I have built our credit unions on the foundation of integrity, and that remains a cornerstone,” said Caro CEO Anne Shivers. “This merger is about finding pathways toward helping people in the Upstate with their everyday financial needs and long-range goals.”
With the merger, Caro has $123 million in total assets. From 2020 to 2021, the credit union grew by nearly $3.5 million in assets and $3.5 million in loans, year-over-year increases of 3.3% and 5.31%, respectively. With the addition of St. Francis’ 1,800 members, Caro’s membership now totals more than 7,800.