Credit union · NCUA insured
Carolina Federal Credit Union
A $84.9M credit union headquartered in Cherryville, NC, with 7,435 members and 1 branch in North Carolina. Best rates: CDs 4.00% and savings 2.10% APY.
Carolina Federal Credit Union Carrot Score
86
Carrot Score
Higher than 74% of U.S. banks and credit unions
#15 of 38 in Charlotte, NC-SC metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Carolina Federal Credit Union
Federally chartered in 1969 in Cherryville, North Carolina, Carolina Federal Credit Union was originally established to serve Carolina Freight employees.
The member-owned credit union serves individuals across Gaston and Cleveland counties.
- Headquarters
- 1200 E Church St, Cherryville, NC 28021-9211
- NCUA charter
- 19788
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Where you live or work
- Membership is open to anyone who lives, works, goes to school, or worships in Gaston or Cleveland County.
Employers and groups
- Membership is open to eligible employees and retirees of sponsored/partnered companies and associations.
Family and household
- Membership is open to all family members of eligible individuals.
Branches
1 branch in North Carolina
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North Carolina
1 branch
- Carolina Federal Credit UnionMain office1200 E Church St, Cherryville, NC 28021Directions
Walk-in offices from the NCUA directory as of March 31, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
Well capitalizedas reported to the NCUA
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 10.58% | 14.31% | 19.38% or more |
| Troubled loans60+ days late | 0.72% | 0.70% | 0.18% or less |
| ProfitabilityReturn on assets | 0.68% | 0.65% | 1.19% or more |
| LendingLoans per $100 deposited | $85 | $59 | — |
- CapitalNet worth ratio10.58%Peers’ middle 14.31% · Top 25% 19.38%+
- Troubled loans60+ days late0.72%Peers’ middle 0.70% · Top 25% ≤0.18%
- ProfitabilityReturn on assets0.68%Peers’ middle 0.65% · Top 25% 1.19%+
- LendingLoans per $100 deposited$85Peers’ middle $59
Compared with the 2,478 credit unions with under $100 million in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are loans 60 or more days late.
Regulators’ own ratings of Carolina Federal Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.