Founders Federal Credit Union is headquartered in Lancaster and is the largest credit union in the state of South Carolina. It is also the 84th largest credit union in the nation. It was established in 1961 and as of March of 2025, it had grown to 840 employees and 275,555 members at 44 locations. Founders Federal Credit Union's money market rates are 6X 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
Excellent Credit Union
Have been a member of Founders for over 30 years.
Always excellent service and the best rates.
Highly recommend.
Disappointed Grearly After 35+ Years With Founders
My last loan experince was greatly disappointing with 35+ banking with Founders and credit rating over 800+. Working abroad is difficult when banking, but in the past I made a personal loan while working in Germany to buy my BMW; a short phone call and 30 minutes later a check ($35k) was in the mail. Now still being abroad and once again needing a personal loan to buy a new car, Founders wasted a week of my time, asking me questions about my financial status since I have been with them so long, and I assumed my account was valued. I was denied a peronal loan ($41K; offered $30k, even less than Germany) exceeding their limit; however, in years past it was approved. After waiting a week (clerk waiting manager decision) I was told "congrats", they approved me $5k over the limit, but short of the money I requested. I was hugely disappointed. I then contacted my USAA back and within 5 to 10 minutes my personal loan was approved and check in the mail for the full $41k; imagine that!. My children also have accounts with Founders and expressed that they recieved cold service also, which surprised me; however, I have now experienced it. What happened to my old Founders hometown feeling, or have rhey changed under new leadership that is not "hometown" friendly as before. I now feel that I am a mere customer and not a valued member; just business as usual ethic. Founders has lost the feeling it once had in my mind, and I assume leadership business ethics has taken over. A discouraged member. Dennis K. Wisher
Awesome Credit Union
I find the star-ratings and comments mind blowing as my experiences with my local Founders and telephone reps -- through 16+years -- have all been so positive.
Very Unhappy
I have been with Founders for over 30 years .I wanted to get an extension to my current loan I was a couple payments behind.So I talked with the loan officer who told me that I need to make my payment on my car loan and I my personal loan .Which I did and she sent it to get approval.Now I emailed her several times No reply from her. I texted her still no reply.She replied 30 minutes before they closed.Emailed and said I can’t get the loan until I have 90!days of on time payments..That pissed me off because she had me thinking if I caught the payments up I could get the loan..Founders help WHO They want too help…Uhhhhhh…!
Very Disappointed Customer
I've been a member for over 20+ years with Founders Federal Credit Union. I have bought several cars and had personal loans with Founders, all of which have been paid off in full. I recently applied for a new loan to consolidate other debt. I was denied. I am very disappointed to have invested so much with this bank. I went to another bank that I had no previous affiliations with, and was approve for the line of credit.
When Founders let you down, please inbox me and I will tell you where you can go for your bankings needs.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24063 |
| Year Chartered | 1961 |
| Employees | 840 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.28% |
| Return on Equity - YTD | 10.12% |
| Annual Interest Income | $74.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $4.87B$4.73B |
| Loans | Q1 2025vs Q1 2024 | $3.8B$3.63B |
| Deposits | Q1 2025vs Q1 2024 | $4.19B$3.94B |
| Equity Capital | Q1 2025vs Q1 2024 | $607.9MM$538.2MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $72.4MM$60.1MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $25.8MM$21.7MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $700K$0 |
