The 2025 Annual Meeting for Carolina Trust will be held on Thursday, March 27th at Horry Georgetown Technical College Burroughs and Chapin Auditorium. Due to limited seating, we request that you RSVP using the link below. We hope you'll join us to learn more about the state of your Credit Union.
The Nominating Committee has selected individuals from the Carolina Trust membership as nominees for Board of Director vacancies based on their qualifications and willingness to serve. Click herefor more information about the annual meeting, descriptions of each nominee, and nomination eligibility.
Rick Patelunas was recently appointed as Carolina Trust Supervisory Committee Chairman.
Rick grew up in upstate New York where he earned a BA in Economics from Binghamton University and an MBA from Syracuse University. While in school, he began his career in the US Postal Service, and after receiving his MBA, he relocated to Washington D.C. He completed additional graduate work in Economics at American University and worked as a Postal economist reporting on costing issues to the Postal Regulatory Commission.
After 47 years with the Postal Service, Rick retired to Myrtle Beach. He currently serves on the Chapin Memorial Library Board and served as Chairman of the Seniors Advisory Committee for the City of Myrtle Beach. Rick has served on the Carolina Trust Supervisory Committee for five years and is looking forward to bringing his knowledge and experience to this new role.
Pictured Above: Rick Patelunas, Supervisory Committee Chairman
CCU Play Ball Kid Sweepstakes
Register for a chance to be the next CCU Play Ball Kid! For the next few months, you will have several chances to win!
In addition to announcing the start of play at the baseball game the winner will receive:
NO PURCHASE IS NECESSARY. Parents/guardians age 18 or older as of February 3, 2025 and their child(ren) ages 5 – 13 who wish to qualify for this contest may submit a 3" x 5" piece of paper to the Credit Union with the following information: name and age of parent/guardian, name and current age of child, date, daytime contact number, mailing address, email address (if applicable), and the words “CCU Play Ball Kid .” In order to be eligible for the drawing(s), a postcard entry must be received by 5:00 pm EST on Wed. February 5th, Wed. February 19th, Wed. March 5th, Wed. March 26th, Wed. April 9th, Wed. April 23rd, Wed. April 30th. Entries will become the property of CTFCU and will not be returned. Limit one (1) entry on behalf of each child during the sweepstakes period.
Fraud Prevention Tips
Scams are everywhere as criminals try to cash in by stealing money or valuable personal information from victims. And given our modern reliance on technologies like smartphones and the internet, if you haven’t been a victim of a scam, you’ve likely been targeted by one. Click herefor more details as well as additional fraud prevention tips and resources.
Just a friendly reminder, Carolina Trust representatives will not request your account information through text or over the phone.
CTFCU Is Here For You
Governmental Affairs Conference
America's Credit Unions Governmental Affairs Conference (The GAC) is the most significant annual event for credit unions. Thousands of industry executives visit Capitol Hill to lobby for the continued well being of credit unions & our members & make it known we are Americans’ best financial partners. Members of our Executive team met with United States Representative Ralph Norman, Senator Tim Scott, United States Representative Russell Fry, United States Representative William Timmons, United States Representative Nancy Mace, United States Representative Sheri Biggs and United States Representative Joe Wilson and thanked them for their support of our credit unions. We thank Carolinas Credit Union League and their advocacy team for their work on this event & all throughout the year on the political advocacy issues that matter most to our industry.
Wildfire Emergency Service Donation
With wildfires recently affecting our area, we wanted to show our support and appreciation for our local firefighters and first responders. Members of our HR team gathered drinks, snacks, and more to help on behalf of Carolina Trust. Thank you to WMBF, Garden City Furniture & Mattress, and Easton Industries for organizing this donation drive!
Rock Out for a Cure
Our President/CEO and Chief Development Officer enjoyed a very impactful evening at the annual Rock Out for a Cure event. Thank you McLeod Health for what you’re doing in our community!
Random Acts of Kindness Day
In honor of Random Acts of Kindness Day, which was February 17th, Brand Ambassador August delivered flowers to the residents of Autumn Care of Shallotte and Anderson Oaks Assisted Living.
Habitat for Humanity Build
At Carolina Trust, we are people serving people to our core. A big thank you to several of our employees who represented us last month with their volunteer service building homes for Habitat for Humanity.
Lydia's Nest
A big thank you to our Lake City Branch Manager, Brunson Loadholt who represented the credit union recently volunteering at Lydia's Nest. Lydia's Nest is a local resource and community development center that serves the Pee Dee region.
IRA Contributions and Considerations
Can I still make a 2024 IRA contribution?
Yes. IRA owners have until their tax-filing deadline, April 15, 2025, to make a 2024 IRA contribution. The IRS requires that IRA owners make an irrevocable written election when they make these prior-year contributions. A prior-year contribution is any contribution made between January 1 and April 15 for the preceding year.
Can my spouse make an IRA contribution if they aren’t working right now?
Yes. If a working spouse receives enough eligible compensation to cover the IRA contribution for a nonworking spouse, the nonworking spouse can make a contribution to their IRA, provided they file a joint federal tax return. For example in 2024, a nonworking spouse whose marital partner earns $6,500 in annual eligible compensation can make a contribution of up to $7,000 (current annual limit) to their own IRA, assuming they file jointly. Or the $7,000 contribution can be split between the working and nonworking spouses’ IRAs as they choose (e.g., $3,500 to each). If the working spouse has at least $13,000 in annual eligible compensation and owns an IRA, then each spouse can make the maximum annual contribution to each of their IRAs (i.e., $7,000 to each). If one or both individuals is age 50 or older, their contribution limit is $8,000.
Can I contribute my full contribution limit to an IRA if I have 401k?
Yes, you can contribute to both a 401(k) and an IRA but you must stay within both accounts' contribution limits.
Do I have to report IRA contributions on my tax return?
Form 5498 reports IRA contributions, rollovers, Roth IRA conversions, and required minimum distributions to the IRS. Carolina Trust FCU as your IRA trustee or custodian is the one responsible for mailing Form 5498 to the IRS, along with a copy to you. If you didn't make any contributions, you won't receive a form. The form is required to be filed by May 31st the year following to which the contributions were made. Always keep a copy of Form 5498 with your tax records.
Current Promotions
Hurricane Preparedness
Hurricane Season will be here before you know it, and we want to make sure that you’re prepared. Now is the time to ensure that you have everything that you will need in the event of an emergency. Don’t wait until it's too late.
Digital Banking Access: Carolina Trust members may be asked occasionally to reset their digital banking password. As a reminder, Carolina Trust representatives will not request your account information through text or over the phone.
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency
Carolina Trust Federal Credit Union, PO Box 780004, Myrtle Beach, South Carolina 29578, USA, 8434482133
