MTC is not a bank, but rather MTC Federal Credit Union, a financial institution headquartered in Greenville, South Carolina. It's a member-owned cooperative rather than a traditional bank.
About MTC Federal Credit Union
Here's a breakdown of key information about MTC Federal Credit Union, derived from the provided reference:
- Location: Headquartered in Greenville, SC 29607.
- Size: It is the 15th largest credit union in South Carolina.
- National Ranking: The 1,056th largest credit union in the United States.
- Establishment: Founded in 1976.
- Growth: As of June 2024, it had 79 employees and 16,852 members.
- Branches: Operates across 8 locations.
Key Differences Between Credit Unions and Banks
While both banks and credit unions offer similar financial services, there are key differences:
| Feature | Banks | Credit Unions |
|---|---|---|
| Ownership | Owned by shareholders | Owned by members |
| Profit Motive | Primarily for profit of shareholders | Primarily for the benefit of members |
| Eligibility | Open to the public | Membership-based, often with restrictions |
Services Offered
MTC Federal Credit Union, like most credit unions, likely offers:
- Checking and Savings Accounts
- Loans (Auto, Home, Personal)
- Credit Cards
- Online and Mobile Banking Services
- Financial Education and Support
Summary
MTC is actually MTC Federal Credit Union, a member-owned financial institution, and is not a bank. It is based in Greenville, SC, and is a notable credit union in both South Carolina and the US.
