A small SC town lost its only bank. Now a new credit union has opened there
Nearly two years ago, the small Newberry County town of Whitmire saw its only bank close its doors.
But now the town has a financial institution once again.
Palmetto Citizens Federal Credit Union has opened its doors at 138 Main St. in Whitmire. The branch is located in a roughly 1,600-square-foot historic building located downtown.
“We’re excited to announce our branch in the Town of Whitmire is now open, and we’re proud to once again bring local banking services to this community,” Palmetto Citizens said in a March 16 Facebook post. “After the town’s previous financial institution closed, access to in-person banking became more difficult for many residents. We’re honored to help fill that gap and look forward to serving the people and businesses of Whitmire for years to come.”
Whitmire has a population of about 1,400, per census data. In 2023 it lost its only bank when a First Citizens Bank branch there closed its doors, as reported by WIS at the time.
Initially founded in 1936 as the Columbia Teachers Credit Union, Palmetto Citizens Federal Credit Union now has 14 branches across the Midlands, per a news release. It employs more than 300 people in the state and manages more than $1.4 billion in assets.
“We’re honored to become part of the Whitmire community and help restore local banking access for the town’s residents and businesses,” Palmetto Citizens president and CEO Robert Dozier said in a statement. “When Whitmire lost its last bank, it created a real challenge for people who depend on in-person financial services.
“As a not-for-profit credit union, we saw an opportunity to step in, support this community and provide the trusted financial resources people need to succeed.”
