Auto Loans

Yes, if you have cross-account access set up. If you would like to set up cross-account access, please visit a local financial center or Contact Us.  

If you are already registered for Bill Pay, simply click on the "Pay Bills" tab located in the main menu. Not registered for Bill Pay, simply:

• Click "Sign up for payments" in the Make a Payment or Bill Pay widget, or
• Click on "Bill Pay" in the main menu.
• Click "Enroll Now".
• Verify the Account Holder Personal Information.
• Notify us if you change ANY INFORMATION in the Account Holder Personal Information section.
• Verify the Account Information.
• Select the "Funding Account" to pay online bills.
• Begin paying bills immediately.

To keep your Bill Pay account activated, pay a bill within 90 days or the account will become inactive. If this happens, contact us to have the account unlocked. If you are unable to set up your Bill Pay, or have any questions, please visit a local financial center or Contact Us. 

Please add the following address:

Overnight Loan Payments
South Carolina Federal Credit Union
6265 Rivers Avenue
North Charleston, SC 29406

South Carolina Federal Credit Union
P.O. Box 62349
North Charleston, SC 29419-2349

A payoff quote is available for all loans and will include accrued interest and the daily per diem.

Auto, boat, recreational vehicle, credit cards or personal loans:

To obtain today's payoff or a 10 business day payoff quote:
• Visit a local financial center.
• Contact Us.
Any overage of your payoff will be deposited into your savings account or returned to you in an overpayment check.

First Mortgage:
Contact Dovenmuehle at (877) 636-9534
Second Mortgage/HELOC:

Fax payoff request to Fulfillment at (843) 737-7400. Request must include:

• Member Name.

• Member Social Security Number.

• Account Number.

• Payoff (good through) date.

• Return Fax Number.

• Copy of a signed authorization of release form from member requesting this information.

• Once payoff is given, Second Mortgage/HELOC will be locked and no advances can be taken.

Or visit a local financial center.

Loan payment due dates are generally 30-45 days from the loan closing date. The payment due date is  notated in your loan documents and agreed upon before disbursement of your loan. Due dates and loan payment amounts can also be viewed through Online Banking, Mobile Banking or statements.

If you would like to make short term payment arrangements, you may also contact our Loss Prevention Team at (843) 569-5045 or (800) 845-0349.

Titles are released once the loan balance is satisfied:

• For loans paid off by certified funds (cashier’s check, cash or money order), the title will be mailed within 48 business hours of receiving Release Form.

• For loans paid off with a personal check, the title will be mailed within 7-10 business days.

• Third Party releases take up to 5 days.

Our loans are calculated with simple interest.

Simple interest is the calculation of daily accrued interest on your principal loan balance.
Interest accrues from the date of your last payment through the date of the next received payment.
If a payment is received 29 days from the last payment, there will be 29 days of interest charged on the unpaid principal balance of the loan. The remainder of the loan payment is credited to principal and reduces the unpaid principal balance on the loan.

For example, a $25,000 loan at a 7% interest rate would be calculated using the formula (Principal Balance x rate)/ 365 days:
$25,000 x 7% =$1,750
$1,750/365 days = $4.80 per day

As the principal balance is paid down, the daily interest will decrease as well.

For all loan requests you will be asked to provide personal information:

• Name of each applicant.

• Physical Address (P.O. Box does not apply).

• Length of time at address.

• Contact Phone Number.

• E-mail Address.

• Social Security number.

• Date of Birth.

• Income Information.

• Name of current Employer.

• Address and Phone Number of Employer.

• Length of Employment.

• Salary.

• Position Held.

• Other applicable income (Retirement, Pension, Disability, Court-Ordered Child Support).

• Current mortgage or rent obligations.

• Name and phone number of nearest relative not living with you.

• Reason for loan application.

To apply now:
Get started with an online loan inquiry, visit a local financial center or Contact Us.

Loans cannot be transferred; however you can sell your vehicle to another individual. For more information on how to sell your vehicle visit www.scdmvonline.com.

• For the current auto fee schedule, please visit the South Carolina DMV website at http://www.scdmvonline.com

• For the current boat fee schedule, please visit the South Carolina DNR website at https://www.dnr.sc.gov//boating/Titling_and_Registration/Fees.html

• South Carolina sales tax is generally 5% of the sale price with a maximum of $300. To calculate sales tax, use the calculator link below http://www.convertit.com/Go/ConvertIt/Calculators/Finance/Sales_Tax_Calc.ASP

For all vehicle loan requests you will be asked to provide the following information:

• Year.

• Make, model, and vehicle identification number.

• Mileage.

• Additional equipment or options.

• A copy of the purchase agreement or bill of sale will be required at or prior to loan closing

• For all unsecured loan requests over $10,000 a Personal Financial Statement will need to be completed.

To apply now:
Get started with an online loan inquiry, visit a local financial center or Contact Us. 

Monthly statements will be issued at the beginning of each month if the loan account:

• Has a checking or a savings account with monthly debits or credits,

• Has a Money Market, or

• Quarterly statements will be issued for all other loan accounts.

Current loan information will always be available through Online Banking or Mobile Banking.

Vehicles can be purchased out-of-state and online.

To determine eligibility, an application must be submitted with all buyer and vehicle information in addition to:

• Name of dealership or individual.

• Current vehicle financing institution or a clear title.

• State vehicle is currently registered in.

• Certain documents may be required but are not limited to the following:

• Titling Approval Letter.

• Original Title.

• Supporting Titling Documents.

• Copy of Buyer’s Order with account number.

• Form 400.

• Power Of Attorney (signed by buyer).

• Property tax receipt or current registration card.

• DMV titling fees.

All South Carolina DMV forms may be printed from www.scdmvonline.com.
To apply now, visit a local financial center or Contact Us.

Credit Life Insurance and Credit Disability Insurance is offered on loans.

Credit Life Insurance:

• Pays off or reduces the outstanding loan balance up to the coverage limit if you die while insured.

• Available on consumer loans and credit cards up to $50,000 and 180 months.

• Low cost coverage with 30-day free look.

• Available through 69 years of age, terminating at age 70.

• Available for primary and/or joint owners on the loan.

Credit Disability Insurance.

• Makes the loan payment up to the maximum coverage limits should you become totally disabled due to sickness or injury while insured.

• Available on all consumer loans and credit cards up to $50,000 and 120 months.

• Low cost coverage with a 30-day free look.

• Available through 65 years of age, terminating at age 66.

• Available for primary and/or joint owners on the loan.

To add Credit Life and/or Credit Disability to a new or existing loan, visit a local financial center or Contact Us

Extra protection is available for auto loans:
Guaranteed Asset Protection (GAP)

• Relieves you of the responsibility for the remainder of the loan balance that the primary insurance carrier does not cover due to a totaled or stolen vehicle.

• Available on auto loans financed up to $100,000 and 84 months.

• Maximum GAP loss payout up to $50,000.

• Available on motorcycle, ATV, and Jet Ski loans financed up to $50,000 and 120 months.

• Low cost protection with a 60-day free look.

Mechanical Breakdown Protection (MBP)

• Extends coverage to virtually all mechanical and electrical components of your vehicle in addition to the manufacturer’s warranty.

• Available on new and pre-owned vehicles.

• Cost and coverage vary based on collateral information.

• Transferrable coverage.

• Choose from Ultimate Guard, Preferred Guard, and Classic Guard.

To add GAP or MBP to a new or existing loan, visit a local financial center or Contact Us.