Historic U.S. Financial Institution Moves Retirement Plan to OneAmerica®

North Charleston, S.C.- based South Carolina Federal Credit Union selected American United Life Insurance Company®(AUL), a OneAmerica company, as the provider for its retirement plans. The 401(k) and 457 retirement plans have $40 million in combined assets and cover more than 400 employees.

The relationship with OneAmerica brings financial wellness and retirement strategies to the forefront for South Carolina Federal’s dedicated employees.

“As a leading financial institution in the Southeastern U.S. with over 80 years in business, we are focused on helping our members handle their finances in the smartest way,” said Leslie Norris, Senior Vice President of Human Resources and Development with South Carolina Federal. “Our employees deserve the same kind of treatment, which is why we are committed to encouraging retirement readiness and positive retirement outcomes, including a dollar-for-dollar, 10-percent match on deferrals. OneAmerica supports these strategies, which makes it a great fit.”

Plan advisor Jim Fede, president of benefit solutions of SCF Solutions, understands the value a comprehensive retirement plan benefit provides in retaining quality employees. “South Carolina Federal realizes its employees are its most important asset. Offering comprehensive benefit programs provides the pathway to attract and retain loyal employees,” Fede said. “Providing a great 401(k) plan and education resources enables employees to prepare for the retirement that meets their lifestyle. OneAmerica shares in this core business philosophy and commitment.”

“South Carolina Federal and Jim Fede knew from day one that our clients are our main focus at OneAmerica. We strive to provide a client experience that allows for innovative, proactive retirement preparation and execution,” said Marsha Whitehead, vice president of marketing for retirement services. “With our comprehensive education program, customized communications and account management services, we are able to enhance South Carolina Federal’s retirement plan and help their employees pursue their respective retirement goals.”

The transaction occurred in the fourth quarter of 2016. 

OneAmerica® is the marketing name for the companies of OneAmerica.

Products issued and underwritten by American United Life Insurance Company® (AUL), a OneAmerica company. Neither AUL nor their representatives provide tax, legal, fiduciary, or investment advice.

Retirement ready? OneAmerica has resources for employer plan sponsors designed to improve participant retirement outcomes. Learn more at https://www.oneamerica.com/retirement-readiness

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About South Carolina Federal 

South Carolina Federal Credit Union is headquartered in North Charleston, SC, and is the oldest locally owned and managed financial institution in the tri-county area. More than 150,000 members own and belong to the not-for-profit financial cooperative, which has over $1.4 billion in assets. South Carolina Federal is a community-chartered credit union. South Carolina Federal has 19 financial centers, and ATMs throughout Charleston, Columbia, Georgetown and Florence. More information about South Carolina Federal can be found at scfederal.org.

About OneAmerica®

A national leader in the insurance and financial services marketplace for 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers. To learn more about our our products, services and the companies of OneAmerica, visit OneAmerica.com/companies.