Founders Federal Credit Union is headquartered in Lancaster and is the largest credit union in the state of South Carolina. It is also the 114th largest credit union in the nation. It was established in 1961 and as of December of 2020, it had grown to 700 employees and 223,140 members at 32 locations. Founders Federal Credit Union has 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
1/16/15 - Founders FCU Offers Competitive Rate 60-month CD and IRA
8/18/14 - Founders Federal CU attractive CD rates On 3,4 And 5 year terms, also 5Yr IRA CD
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
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.
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 Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24063 |
| Year Chartered | 1961 |
| Employees | 700 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.03% |
| Return on Equity - YTD | 8.26% |
| Annual Interest Income | $133.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $3.10B$2.65B |
| Loans | Q4 2020vs Q4 2019 | $2.36B$2.25B |
| Deposits | Q4 2020vs Q4 2019 | $2.58B$2.14B |
| Equity Capital | Q4 2020vs Q4 2019 | $381.6MM$348.5MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $25.6MM$23.2MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $10.3MM$12.6MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $158.00K$274.00K |
