The new entity, called Spero Financial, will comprise more than 59,000 members, $525 million in assets and 10 banking locations throughout the Upstate and Midlands, according to a news release. Brian McKay will be president and CEO of the company, which will be based in Greenville.
“With over 150 collective years of helping South Carolinians improve their financial lives, it’s only fitting that our new name should have its origin in our home state’s most recognizable symbol — the great seal of South Carolina,” McKay said in the release. “There, we read the Latin motto ‘Dum spiro spero’ meaning ‘While I breathe, I hope.’ ‘Spero’ means hope — a word that’s deeply rooted in our unchanging mission and cooperative spirit of people helping people.”
The name was chosen also to highlight the sparrow-like characteristics of the company: agility, vigilance and adaptability, the release said.
“By reflecting on the richness of our history, staying true to the hopefulness of our mission, and holding fast to the commitment of helping our communities soar, Spero Financial captures who we’ve been, who we are and who we’re becoming,” McKay said in the release.
Spero Financial’s logo and other branding elements will be unveiled later this year as SC Telco transitions to its new name, the release said. AFCU locations will be rebranded in early 2021.p