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FDIC-insured bank offering checking, savings, loans, mortgages, and trust services across South Carolina and Georgia with a community development focus.
Data compiled from public sources
Security Federal Bank is a traditional community bank operating across South Carolina (Aiken and Columbia areas) and Augusta, Georgia. The institution is FDIC-insured and operates as a designated Community Development Financial Institution (CDFI), positioning itself around a mission of community support and financial inclusion that spans over a century. 00% APY on balances up to $10,000), savings accounts, auto loans, home equity lines of credit, and mortgage loans.
For business customers, they provide business checking, treasury management services, small business loans, and merchant services. Additional services include trust and wealth management, financial counseling with no listed cost, and insurance products (home, auto, business) through partner agents. They maintain 7-day branch access and offer online banking with mobile apps for treasury management.
Security Federal differentiates itself through its CDFI status, no-cost financial counseling services, and focus on accessibility with lower minimum balance options on premium accounts. The bank promotes add-on benefits like BaZing fuel credits and roadside assistance through their checking accounts, and has launched new products like Perks Checking with a dedicated app. Their emphasis on community reinvestment and personal relationship banking distinguishes them from larger national competitors.
As a regional community bank, Security Federal is best suited for customers seeking local branch relationships and community-focused banking in South Carolina and Georgia. The competitive checking rates and comprehensive product suite make them viable for both personal and small business banking. However, customers should note the geographic limitation to three specific metropolitan areas and the minimum balance requirements needed to earn advertised APY rates.
This is state-level context for Banks consumers in Aiken, SC. It does not confirm that Security Federal Bank or this specific location is licensed.
State regulator
South Carolina Board of Financial Institutions
Consumer protection
South Carolina Attorney General Consumer Protection Division
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Security Federal Bank processed 376 mortgage applications in 2023, with 87.5% recorded as approved across 4 states.
376
Applications
87.5%
Approval Rate
$259K
Avg Loan
4
States Served
Based on 376 applications. Income in thousands (reported by applicant).
Source: CFPB Home Mortgage Disclosure Act (HMDA) Data, 2023. Applications include originated, approved, and denied loans.
Security Federal Bank offers 12 services including High-yield checking accounts (up to 4.00% APY), Savings accounts, Auto loans, Home equity lines of credit, Mortgage loans (purchase and refinance), and 7 more.
Security Federal Bank has profile signals associated with South Carolina and Georgia residents seeking community-focused banking with local branch relationships, Small business owners needing treasury management, merchant services, and local business lending, Consumers prioritizing high checking account yields with manageable transaction requirements, Community development-minded customers seeking CDFI-certified financial institutions.
Key strengths: High-yield checking account offering up to 4.00% APY on balances up to $10,000 with lower minimum deposit requirements ($1,000-$2,500); FDIC-insured deposits backed by U.S. Government listed refund term; Designated Community Development Financial Institution (CDFI) status providing community-focused lending. Areas to consider: Geographic limitation: operates only in Aiken, Columbia SC and Augusta GA areas with no national presence; APY tiers create disincentive for larger deposits (0.25% APY on balances above $10,000).
In the Banks category, comparable providers include 1st Federal Savings Bank of SC, Inc., Abbeville First Bank, Ssb, Bank of the Lowcountry. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Security Federal Bank is profile signals for South Carolina and Georgia residents who value community banking, competitive checking rates, and personalized service. The primary caveat is strict geographic limitation to three metropolitan areas, making this option unavailable for customers outside Aiken/Columbia SC and Augusta GA.
FDIC-insured South Carolina bank established in 1963, offering checking, savings, CDs, IRAs, and loan products with rate claims to verify and local community focus.
Profile signals: South Carolina residents seeking FDIC-insured deposit accounts with local banking relationships, Customers prioritizing relationship banking with experienced, long-tenured staff
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.
Profile signals: Abbeville County residents seeking local banking relationships and personalized service, Homebuyers in the region who value the bank's demonstrated mortgage lending experience context
Community bank with branches in South Carolina offering personal and business banking, loans, and financial literacy resources.
Profile signals: 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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