Founders Federal Credit Union


Overview / Commentary
800-845-1614
737 Plantation Rd
Lancaster, SC 29720

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 September of 2019, it had grown to 694 employees and 223,495 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

Founders Federal Credit Union (SC) 84-Month CD Earns Up To 4.58% APY - 11/20/2019

Founders Federal Credit Union (SC/NC) has added an 84-month Share Certificate (3.29% APY) and 84-month Loyalty Share Certificate (4.48% APY). $500 min deposit.

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Excellent Service!

Posted by: murr9506 | Jan 1, 2020

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.

Customer Service

Posted by: Susan1995 | Jan 15, 2020

Customer Service needs work. I have been with Founders for more than 10 years now. I have a checking account, savings account, loyalty account, 2 loans, a credit card, three of my children have account under me; this all means nothing to Founders. Their customer service is horrible. They don’t care about their customers. Go to a different Credit union so you won’t invest your time into an union who doesn’t care about you!

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Health
A+

Health Grade Components

Overall
NCUA #24063
Year Chartered1961
Employees694
Primary Regulator
Profit Margin
Return on Assets - YTD1.5%
Return on Equity - YTD10.89%
Annual Interest Income$94.6MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$2.58B$2.34B
LoansQ3 2019vs Q3 2018$2.18B$1.96B
DepositsQ3 2019vs Q3 2018$2.09B$1.89B
Equity CapitalQ3 2019vs Q3 2018$348.9MM$316.6MM
Loan Loss AllowanceQ3 2019vs Q3 2018$22.6MM$24.8MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$9.9MM$13.6MM
Real Estate OwnedQ3 2019vs Q3 2018$441.00K$507.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.38%--Loyalty Select
0.80%$500-Variable Rate IRA
0.25%$5-Share/Savings
0.25%--Christmas Club

Founders Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%*$50k*-Money Market Plus
OTHER TIERS: 0.60% $1k - $25k | 0.70% $25k - $50k

Founders Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Checking Account

Founders Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.58%$500-84 Month Loyalty Share Certificate
3.29%$500-84 Month Share Certificate
3.03%$500-60 Month Share Certificate
2.78%$500-48 Month Share Certificate
2.52%$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

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.68%$500-84 Month Loyalty IRA
3.39%$500-84 Month IRA
3.14%$500-60 Month IRA
2.88%$500-48 Month IRA
2.63%$500-36 Month IRA
2.37%$500-24 Month IRA
1.86%$500-12 Month IRA
Locations

Availability



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