FDIC-insured South Carolina bank established in 1963, offering checking, savings, CDs, IRAs, and loan products with competitive rates and local community focus.
Data compiled from public sources · Rating from CreditDoc methodology
1st Federal Savings Bank of SC, Inc. was founded in August 1963 as First Federal Savings & Loan Association of Walterboro. Over six decades, the institution has evolved through name changes while maintaining its founding principle of community service.
The bank operates as "The Family Bank" with deep roots in South Carolina, emphasizing long-term staff relationships and customer dedication. The bank offers a comprehensive range of deposit and loan products. Deposit options include personal checking, business checking, savings accounts, certificates of deposit (CDs), and IRAs.
Their loan products span mortgages, consumer loans, and commercial lending. 15% APY, requiring a $1,000 minimum opening balance. They also offer Kasasa branded products including Kasasa Cash, Kasasa Cash Saver, Kasasa Cash Back, and Kasasa Cash Back Saver accounts.
Customers can access funds through online banking, mobile app, and in-person locations with extended hours. S. Government, demonstrated staff longevity (many employees with 20+ years tenure), and a strong community orientation.
The bank emphasizes customer education through video tutorials and an online education center. They support modern banking through eStatements, mobile apps, and online banking platforms, while maintaining accessibility features for low-vision users. The bank is straightforward about CD terms and conditions: early withdrawal penalties apply, promotional rates may be withdrawn without notice, and fees can reduce earnings.
Their website lacks extensive information about business services, loan terms, or detailed product specifications beyond CDs. No specific information is provided about minimum balances for other accounts, APR ranges for loans, or competitive advantages beyond community presence.
Yes. 1st Federal Savings Bank of SC, Inc. is a registered company, headquartered in Walterboro, SC, founded in 1962.
Account opening typically takes 1-3 business days. Loan decisions vary by product.
CreditDoc Diagnosis
Best for South Carolina residents and businesses seeking traditional community banking with FDIC protection and relationship-focused service. Primary caveat: Limited web transparency on loan products, account minimums, and fees; customers should contact the bank directly for specific terms and competitive rate comparisons.
Abbeville First Bank is a South Carolina-based community bank serving Abbeville County for over 115 years, offering personal and business banking with emphasis on local service and homeownership.
Best for: Abbeville County residents seeking local banking relationships and personalized service, Homebuyers in the region who value the bank's demonstrated mortgage lending expertise
Anderson Brothers Bank is a South Carolina-based FDIC-insured community bank serving since 1933, offering checking, savings, personal loans, auto loans, and mortgages across 26+ locations.
Best for: South Carolina residents seeking a community bank with local branch access and FDIC protection, Small business owners needing tailored business banking and relationship-based lending
Community bank with branches in South Carolina offering personal and business banking, loans, and financial literacy resources.
Best for: South Carolina residents seeking personalized relationship banking with local experts, Small business owners and entrepreneurs in the Lowcountry region looking for community-focused business lending
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