History of Oconee Federal

Where We Started

History is about the past. Yet, it exists only in the present. Our story demonstrates not only where we started, but it represents who we are today and where we will go in the future.

Oconee Federal’s roots grow deep within Southern soil, in that we were chartered by the State of South Carolina in February 1924 as Seneca Building and Loan Association.

In 1958, we became Oconee Savings and Loan Association when our first branch office was opened in Walhalla, South Carolina. Then in 1992, our Association was issued a federal charter, resulting in a name change to Oconee Federal Savings and Loan Association.

Continuing to grow, in 2011, Oconee Federal completed a mutual-to-stock conversion, creating Oconee Federal Financial Corp. and Oconee Federal, MHC. Oconee Federal Financial Corp. is a federally chartered corporation formed to be the mid-tier stock holding company for Oconee Federal. Meanwhile, Oconee Federal, MHC is a federally chartered mutual holding company formed to be the mutual holding company of Oconee Federal Financial Corp. Oconee Federal is a wholly owned subsidiary of Oconee Federal Financial Corp.

In 2014, Oconee Federal entered into a merger agreement with Stephens Federal Bank, a Toccoa, GA based mutual savings bank in business since 1933. The acquisition added Stephens Federal’s three offices in Toccoa and Clayton, Georgia. We constructed a new Oconee Federal branch in 2020 in Clemson, South Carolina. Our most recent expansion was in 2024 in the Pee Dee Region of South Carolina with the merger and acquisition of Mutual Savings Bank in Hartsville.

Who We Are Today

We are headquartered in Seneca, South Carolina with a strong community-focused branch network of nine retail offices. Each of our locations have ATMs onsite, as well as belonging to the Allpoint ATM network. Please see our locations page for a complete listing of our offices including address, phone number and directions.