Founders Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 3.29% | 5-year CD | |
| 3.39% | 5-year IRA | 2.28% - National Average |
| 3.03% | 4-year CD | 1.99% - National Average |
Founders Federal Credit Union is headquartered in Lancaster and is the largest credit union in the state of South Carolina. It is also the 109th largest credit union in the nation. It was established in 1961 and as of December of 2018, it had grown to 670 employees and 219,512 members at 33 locations. Founders Federal Credit Union's CD rates are 96% higher than the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Founders Federal Credit Union is open to those who live, work, attend school or worship in Chester, Chesterfield, Laurens, or Union Counties in South Carolina, the towns of Wellford or Duncan, South Carolina, and select census tracts in Spartanburg, Cherokee, or York. Membership is also open to employees or retirees of International Paper (Laurens, SC) and over 200 Select Employer Groups.
See current membership details
Related Posts
11/13 - 5 Yr Share Certificate @ 4.06 APY
5/9 - Founders FCU's (SC/NC) 60-Month CD Soars
1/16 - Founders FCU Offers Competitive Rate 60-month CD and IRA
11/11/11 - Credit Union Pays Members A Bonus Dividend
3/28/11 - Top 4-Year CD and IRA CD Rates at Founders Federal Credit Union in SC/NC - Local Only
12/8/09 - 4.06% 48-Month CD & 3.29% 36-Month CD at Founders FCU in SC/NC - Local Only
9/12/07 - 5.61% 13-Month CD at a Carolina CU (Founders)
8/27/06 - 6.14% 13-Month / 6.14% 48-Month CD at a Carolina CU (Founders)
6/2/06 - 5.61% 9-Month CD at a South Carolina CU
2/5/06 - 6.40% 60-Month Variable CD at a South Carolina CU
Great Credit Union if you live in York/Lancaster SC
I have been a member at Founders for nearly 20 years, and I am very happy to say that they continue to impress with their suite of products. Specifically, I am extremely impressed with their CD products. Additionally, if you have a checking and savings account (which only require a $5.00 minimum), they give you loyalty dividend at the end of the year, regardless of the amount that you have in either account, which really blows me away in a time of ridiculous bank fees, they are heads and tails above any of the other banks I have looked at. Finally, even though they are a small institution, relatively speaking, they are on par technologically with the bigger banks as well, and have mobile check deposit to your checking and savings, as well as access to all of the other functions you would want via their app. Without hesitation I would highly recommend Founders Credit Union!
Great opportunities
I really love this bank. It provides excellent service. It gave me a loan when no one else would for years because I had no credit or what credit I did have was bad. Giving loans to help establish credit or repair it is wonderful.
Small town bank, great service!
Founders Federal Credit Union is a small bank based in South Carolina, that has a few locations outside of South Carolina. They have great customer service, and unlike some smaller banks, they do an awesome job with their mobile banking, it is easy to use, and lets you do a lot of things like transfer money, view your mortgage, set up automatic bill payments, etc. I currently am enrolled in their savings, checking, and money marketing accounts. Also when I purchased a foreclosure, they were the only bank in the area that was willing to work with me and gave me a loan fairly hassle free. Founders has multiple atm's and offices located around my town, so it their is always once conveniently close by, no matter what part of town I'm in. I am quite pleased banking at my small local bank.
Unhappy Customer
I have been a member since 1981, but that doesn't count for much when it comes to their food through service.
They changed the terms of my credit card without ever notifying me until such time their computer started kicking out messages more than a year after the change. They they denied ever making the change.
My most recent experience has been when I applied for a mortgage. My salesperson looked at all my documents and said there would be no problem with pre-approval. After 2 weeks of inquiring the notified me they would not provide the loan. The rejection was based on some obsure ratio based on losses reported on my tax return. It was very obvious that the underwriter could not read a tax form. I was forced to then scramble to find another lender to meet my closing date which approved my loan in 20 days. Their incompetence caused a significant amount of of frustration and added expense.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24063 |
| Year Chartered | 1961 |
| Employees | 670 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.94% |
| Return on Equity - YTD | 6.98% |
| Annual Interest Income | $112.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $2.40B$2.13B |
| Loans | Q4 2018vs Q4 2017 | $2.00B$1.77B |
| Deposits | Q4 2018vs Q4 2017 | $1.95B$1.76B |
| Equity Capital | Q4 2018vs Q4 2017 | $319.1MM$297.4MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $24.5MM$23.7MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $13.1MM$15.7MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $419.00K$1.1MM |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
Just Ended The 4.16% Rate On IRA 01/08/19
Always verify rates and promotions with the bank or credit union. We are not Founders Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Founders Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 5.38% | - | - | Loyalty Select | |
| 0.80% | $5 | - | Variable Rate IRA | |
| 0.25% | $5 | - | Share/Savings | |
| 0.25% | - | - | Christmas Club |
Founders Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.80%* | $50k* | - | Money Market Plus | ||
| OTHER TIERS: 0.60% → $1k - $25k | 0.70% → $25k - $50k | |||||
Founders Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | - | - | Checking Account |
Founders Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.29% | $500 | - | 60 Month Share Certificate | |
| 3.03% | $500 | - | 48 Month Share Certificate | |
| 3.03% | $50 | $3k | 12 Month Loyalty Advantage Certificate | |
| 2.78% | $500 | - | 36 Month Share Certificate | |
| 2.27% | $500 | - | 24 Month Share Certificate | |
| 1.76% | $500 | - | 12 Month Share Certificate | |
| 1.76% | $50 | - | 12 Month Youth Certificate | |
| 1.00% | $500 | - | 6 Month Share Certificate |
Founders Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.39% | $500 | - | 60 Month IRA | |
| 3.14% | $500 | - | 48 Month IRA | |
| 2.88% | $500 | - | 36 Month IRA | |
| 2.37% | $500 | - | 24 Month IRA | |
| 1.86% | $500 | - | 12 Month IRA |
