Founders Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 2.27% | 5-year CD | 60 Month Share Certificate 2.25% - Bank of Internet USA 60 Month CD |
| 2.37% | 5-year IRA | 60 Month IRA (Traditional, CESA, Roth) 1.56% - National Average |
| 2.02% | 4-year CD | 48 Month Share Certificate |
Founders Federal Credit Union is headquartered in Lancaster and is the largest credit union in the state of South Carolina. It is also the 111th largest credit union in the nation. It was established in 1961 and as of June of 2017, it had grown to 635 employees and 212,450 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
1/16 - Founders FCU Offers Competitive Rate 60-month CD and IRA
3/28 - Top 4-Year CD and IRA CD Rates at Founders Federal Credit Union 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.
Really Poor Business Practices
Ive tried doing business here a couple of times, and their policies and practices are just shady. You can't trust them to honor their obligations, just refusing to follow their agreements. Nickel and dime folks to death over nothing - their corporate behavior, lack of customer service, and overall dishonesty has turned me into a vocal and regular spokesman against banking here. Go to Family Trust or SCBT instead.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 24063 |
| Year Chartered | 1961 |
| Employees | 635 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.76% |
| Return on Equity - YTD | 5.44% |
| Annual Interest Income | $49.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $2.11B$1.94B |
| Loans | Q2 2017vs Q2 2016 | $1.68B$1.54B |
| Deposits | Q2 2017vs Q2 2016 | $1.75B$1.57B |
| Equity Capital | Q2 2017vs Q2 2016 | $292.7MM$281.0MM |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $21.5MM$20.7MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $11.1MM$9.3MM |
| Real Estate Owned | Q2 2017vs Q2 2016 | $1.3MM$2.5MM |
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 |
|---|---|---|---|---|
| 0.80% | - | - | Variable Rate IRA | |
| 0.15% | - | - | Share/Savings | |
| 0.15% | - | - | Christmas Club |
Founders Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.55%* | $50k* | - | Money Market Plus | ||
| OTHER TIERS: 0.35% → $1k - $25k | 0.45% → $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 |
|---|---|---|---|---|
| 3.03% | $50 | $3k | 12 Month Loyalty Advantage Certificate | |
| 2.27% | $500 | - | 60 Month Share Certificate | |
| 2.02% | $500 | - | 48 Month Share Certificate | |
| 1.51% | $500 | - | 36 - 47 Month Share Certificate | |
| 1.10% | $500 | - | 24 - 35 Month Share Certificate | |
| 0.90% | $500 | - | 12 - 23 Month Share Certificate | |
| 0.90% | $50 | - | 12 Month Youth Certificate | |
| 0.90% | $500 | - | One Year Special Tax Certificate | |
| 0.40% | $500 | - | 6 - 11 Month Share Certificate | |
| 0.35% | $500 | - | 1 - 5 Month Share Certificate |
Founders Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.37% | $500 | - | 60 Month IRA | |
| 2.12% | $500 | - | 48 Month IRA | |
| 1.61% | $500 | - | 36 - 47 Month IRA | |
| 1.20% | $500 | - | 24 - 35 Month IRA | |
| 1.00% | $500 | - | 12 - 23 Month IRA |
