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3 star rating based on 2 reviews.

Founders Federal Credit Union

Founders Federal Credit Union Locations
737 Plantation Rd
Lancaster, SC 29720
800-845-1614
www.foundersfcu.com



Founders Federal Credit Union is headquartered in Lancaster and is the largest credit union in the state of South Carolina. It is also the 91st largest credit union in the nation. It was established in 1961 and as of December of 2011, it had grown to 465 employees and 187,269 members. Founders Federal Credit Union has a 4-star health rating.

Founders Federal Credit Union Routing Number: 253279439

Related Posts

Credit Union Pays Members A Bonus Dividend (Forum) - 11/11/2011

Unlike banks, when credit unions make a profit, they often return it to members. According to the CharlotteObserver.com Founders Federal Credit Union will return $10 million to its members in the form of a bonus dividend, the Lancaster, S.C.-based institu

Top 4-Year CD and IRA CD Rates at Founders Federal Credit Union in SC/NC - Local Only - 3/28/2011

Founders Federal Credit Union is offering a very competitive 4-year CD with a 3.03% APY. The 3-year CD is also competitive with a 2.02% APY. The IRA CDs have rates that are even higher: 3.14% APY for ...

4.06% 48-Month CD & 3.29% 36-Month CD at Founders FCU in SC/NC - Local Only - 12/8/2009

Founders Federal Credit Union is offering some very competitive long-term CD rates. These include:4.06% APY 48 months3.29% APY 36-47 months2.50% APY 24-35 monthsMinimum deposit is $500. Rates are 10 basis points higher for IRA CDs. These rates are listed...

5.61% 13-Month CD at a Carolina CU (Founders) - 9/12/2007

Founders Federal Credit Union is offering a special 5.61% APY 13-month fixed rate share certificate. The minimum deposit is $500. There's also a 13-month IRA certificate special with a yield of 5.72% APY.Unfortunately, this current special rate is much...



See Rates for: Checking | Savings | Money Market | CD | IRA

Founders Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.05%--Checking Account

Founders Federal Credit Union Savings Account Rates

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0.40%--Variable Rate IRA
0.40%--Variable Rate Roth IRA
0.40%--Variable Rate CESA
0.10%--Share/Savings
0.10%--Christmas Club

Founders Federal Credit Union Money Market Rates

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0.30%$50k-Money Market Plus

Founders Federal Credit Union CD Rates

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1.00%$500-48 Month Share Certificate
0.90%$500-36 - 47 Month Share Certificate
0.60%$500-24 - 35 Month Share Certificate
0.40%$500-12 - 23 Month Share Certificate
0.40%$50-12 Month Youth Certificate
0.40%$500-One Year Special Tax Certificate
0.15%$500-6 - 11 Month Share Certificate
0.10%$500-1 - 5 Month Share Certificate

Founders Federal Credit Union IRA Rates

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1.10%$500-48 Month IRA
1.10%$500-48 Month Roth IRA
1.10%$500-48 Month CESA
1.00%$500-36 - 47 Month IRA
1.00%$500-36 - 47 Month Roth IRA
1.00%$500-36 - 47 Month CESA
0.70%$500-24 - 35 Month IRA
0.70%$500-24 - 35 Month Roth IRA
0.70%$500-24 - 35 Month CESA
0.50%$500-12 Month IRA
0.50%$500-12 Month Roth IRA
0.50%$500-12 Month CESA

Rates updated: 5/27/2012

Data for Q4 2011


Institution Statistics


FOUNDERS
NCUA #24063
BankRate ReportView
Year Chartered1961
Employees465
Primary Regulator

Assets and Liabilities

Assets$1.61 billion
Loans$1.12 billion
Deposits$1.33 billion
Equity Capital$218.76 million
Loan Loss Allowance$22.50 million
Unbacked Noncurrent Loans$21.27 million
Real Estate Owned$4.66 million

Historic Data - December 2010

Assets$1.55 billion
Equity Capital$205.47 million
Loan Loss Allowance$26.25 million
Unbacked Noncurrent Loans$18.71 million
Real Estate Owned$5.71 million

Profit Margin - Quarterly

Net Interest Margin5.04%
Return on Assets0.69%
Return on Equity5.07%
Interest Income$85.97 million
Non-Interest Income$26.83 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2011 Founders Federal Credit Union had $25.93 million in non-current loans and owned real-estate with $241.26 million in equity and loan loss allowances on hand to cover it. This gives Founders Federal Credit Union a Texas Ratio of 10.75% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Founders Federal Credit Union held steady from 10.54% as of December 31, 2010 to 10.75% as of December 31, 2011, resulting in a negative change of 2.01%. This indicates that the balance sheet and financial strength for Founders Federal Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, Founders Federal Credit Union has increased its total deposits by $45.43 million, resulting in 3.54% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Founders Federal Credit Union has shown is above average.
Capitalization5
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Founders Federal Credit Union has $1.61 billion in assets with $241.26 million in equity, resulting in a capitalization level of 14.99%, which is excellent.
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Founders Federal Credit Union Gives $10 Million
5 stars - Shorebreak - Tuesday, November 22, 2011 - 8:26 AM

Founders Federal Credit Union, a credit union in Lancaster, South Carolina; will be giving $10million back to its members in the form of a bonus dividend. About half will go to depositors based on their interest earned and the other half will go to borrowers based on their interest paid. There’s no doubt that its 200,000 members are thrilled.

» Founders Federal Credit Union Gives $10 Million

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FIND ANOTHER Credit Union... STAY AWAY! THEY'll HIRE ANYONE WHO CAN FOG A MIRROR, They Obviously Do Not Do Personality Tests Or Background Testing Before They Hire Someone.
1 stars - ROB - Monday, December 5, 2011 - 11:06 AM

BEWARE: The New banking center manager in Rock Hill (Rocky)... is an idiot. When I was waiting in the lobby, I overheard him cussing when on a phone call conversation to what appeared to be a disgruntled customer. When I addressed him about the situation he became defensive and turned down my loan... I have a 697 Credit score. Obsurd to say the least.  

I tried to reach the Vice President of Founders (Darrell Bowie) several times to express my concern, he has still has not returned my calls. I have left him messages daily for over a week. I will be taking my banking elsewhere to say the least.

 

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