Anna’s brother-in-law was right.

Here are news items from your credit union.

In a move that runs counter to the upward trend of interest rates, 1st Cooperative Federal Credit Union will reduce interest rates on loans for new automobiles effective July 1. Meanwhile, dividend rates on certificates will increase, a move sure to be welcomed by savers.

“Members are looking more closely at new vehicles as the cost of used vehicles has increased,” said Ashley Beach Reid, COO of the credit union. “We’re trying to make those purchases easier, even though it goes against the tide of most financial institutions.”

Rates for new-vehicle loans will drop to as low as 3.29% annual percentage rate (APR). There’s a range of rates based on a member’s credit qualifications, but even the highest rate has been lowered — to 14.79% APR.

More good news comes with higher dividend rates for savings certificates. The 12-month certificate will earn 0.85% annual percentage yield (APY). The rate for 24-month certificates will increase to 1.05% APY.

The credit union’s board of directors approved the rate changes at its last meeting.

While members need to call the credit union (803-796-0234) to purchase savings certificates, they can begin the loan application online at

Membership in the credit union is open to electric cooperative employees, trustees, and families including spouse, children, grandchildren, parents, grandparents and siblings. To join, click here.

A lower interest rate will provide relief from rising minimum payments and huge credit card debt starting February 1.

1st Cooperative Visa Platinum holders will get a limited-time 6.99% annual percentage rate on all balances transferred from other cards to a 1st Cooperative Visa. This balance transfer special will be offered between February 1 and April 15, 2022. Those who open a new 1st Cooperative Visa will also get the same rate.

Members will pay no transfer fee and get the lower rate when they transfer balances from retail store cards or those from other financial institutions.

“We know from experience that the 6.99% rate will ease the burden on a lot of people,” said Ashley Beach Reid, the credit union’s chief operating officer. “Faced with financial pressure brought on by holiday shopping, many electric cooperative employees and their families will be searching for relief.”

Members who already have a 1st Cooperative Visa Platinum can make transfers beginning on February 1 to take advantage of the special rate. Non-members have plenty of time to join, apply for a Visa Platinum and then make their transfers from other cards. Credit union membership is open to electric cooperative employees, trustees, and their families, who include spouses, parents, grandparents, children, grandchildren, siblings, and in-laws (with step and adoptive relationships included).

“The savings can be huge, especially if someone is paying the 18% to 29% charged by some other cards,” Beach Reid said. “The special rate is good for the life of the transferred balance—until it’s paid off—and there’s no fee to make the transfer. You don’t see that too often”

Apply at If you’re not a credit union member, join first at Members with questions can contact the credit union at 803-796-0234.

Glycer BeachI would guess that 1st Cooperative members are patriotic people who find important meaning in Veteran’s Day, November 11. Many of us have a personal reason to pause with appreciation.

My reason is my father, the Reverend Dr. Glyger G. Beach, a retired colonel and chaplain of the U.S. Army Reserve. He immigrated to America from St. Vincent and the Grenadines, an island country in the Caribbean, seeking a better life for his family. He later became a chaplain in the Army Reserve. We were proud to know he was recognized with a Bronze Star, Meritorious Service and Army Commendation medals, an Army Superior Unit Award and a Global War on Terrorism Expeditionary Medal.

glyger receives award
Beach receives the Veterans Hall of Fame Award from New York state Senator Kevin Parker

When my siblings and I were concerned that he could be risking his life in Iraq, he responded by proudly saying, “When I go, and if I die, tell anyone and everyone that I willingly gave my life in service to God and the United States of America.” We were thankful that he came home safely. That’s him in the photo receiving the Veterans Hall of Fame Award from New York state Senator Kevin Parker. Though my father has held many titles over his lifetime, I value the title ‘Dad’ the most. Today, however, I appreciate his title of Veteran of the U.S. Army, and I salute you, your family members and friends if that title applies to you.

For all those who have served in the military, we at 1st Cooperative thank you.

Ashley Beach Reid
Chief Operating Officer
1st Cooperative Federal Credit Union

Her Story

When Anna needed a new car, her brother-in-law Kenny, a co-op employee, recommended 1st Cooperative, where family members of co-op employees can join, too. She opened her account and bought a new vehicle the same day. Then, for the double-win: While applying for the car loan, she also got a debt consolidation loan and is paying lower overall interest.

That’s great news, Anna, like the information you’ll find on this page.

These instructions apply only for your first time logging on to our new Online Banking system after September 2.

If you are an existing Online Banking user, here’s how to log on to our new Online Banking system:

  • Your temporary Logon ID (username) is the member number for the Primary Member on the account.
    • You must enter leading zeroes to make it 6 digits.
    • Examples: If your current member number is 1234, you would enter 001234. For the member number 12, you would enter 000012.
  • Your temporary Security Code (password) is the last 4 digits of the Primary Account holder’s Social Security number.
    • Example: 9876

You will be prompted to change your Logon ID and Security Code. Once these are changed, you will use your NEW Logon ID and Security Code the next time you log on to Online Banking.

Click here to proceed to Online Banking logon »