Founders Federal Credit Union is headquartered in Lancaster and is the largest credit union in the state of South Carolina. It is also the 110th largest credit union in the nation. It was established in 1961 and as of December of 2019, it had grown to 704 employees and 224,954 members at 33 locations. Founders Federal Credit Union's money market rates are 25% 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
1/10 - Just Ended The 4.16% Rate On IRA 01/08/19
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 - Better Than A Bank
Love these guys. Their online and apps could use work, but I love their products. Great people as well.
Excellent Service!
I've had an account with Founders for more than a decade. I appreciate the promotional CD offers, the Loyalty Dividend, and the high yield Loyalty account. My questions are always answered professionally and promptly whether by phone or secure e-mail. Their online banking is always easy to use and accurate. I hope to open more accounts with Founders!
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!
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.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24063 |
| Year Chartered | 1961 |
| Employees | 704 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.07% |
| Return on Equity - YTD | 8.06% |
| Annual Interest Income | $128.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $2.65B$2.40B |
| Loans | Q4 2019vs Q4 2018 | $2.25B$2.00B |
| Deposits | Q4 2019vs Q4 2018 | $2.14B$1.95B |
| Equity Capital | Q4 2019vs Q4 2018 | $348.5MM$319.1MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $23.2MM$24.5MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $12.6MM$13.1MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $274.00K$419.00K |
