History

One of the most recognizable landmarks in Charleston is the Kapstone Paper Mill.  It is hard to miss the paper mill as you cross over the Don Holt connector on I-526. In 1955, the employees of the Charleston Paper Mill realized the need for affordable lending services and a safe place for the employees to keep their savings. To that end, the Charleston Paper Mill Credit Union was born in a 750 square-foot construction shed, better known today as the Butler Building. In its infancy, CPM was only able to offer members savings and loan accounts.

In 1975, CPM converted to a federal charter to escape prohibitive state regulations. Now able to issue share certificates, CPM expanded by opening a second branch in Summerville, thus serving more of the Westvaco employees. As federal restrictions loosened in 1983, CPM was able to expand even further into the town of Orangeburg. In 1988, the first Upstate office was opened after a merger with Texize Credit Union in Greenville. After deciding to open a second Greenville location, CPM soon followed with branches in Spartanburg, Orangeburg and St. Matthews. In 2000, the Greer branch was started to serve BMW Manufacturing, and in 2007, CPM continued its expansion with additional branches in North Charleston, Charleston, Easley and Simpsonville. 

     In 2009, CPM merged with the South Carolina
     Firefighter's Federal Credit Union and is proud to
     serve all members of the SC Firefighters' Association.
     As of July 2010, we are also pleased to announce the
     opening of our newest full-service branch in the
     capitol city of Columbia.  

CPM Federal currently has a network of 13 branches, and the name now signifies the three areas of the state in which we serve: Coastal, Piedmont, and Midlands. CPM is proud of its heritage and continues striving to keep our original mission in mind — to exceed our members' highest expectations!