Founders Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 2.27% | 5-year CD | 60 Month Share Certificate 2.35% - Synchrony Bank 60 Month CD |
| 2.37% | 5-year IRA | 60 Month IRA (Traditional, CESA, Roth) 1.55% - 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
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!
Founders Federal Credit Union is Highly Recommended
I have been with Founders Federal Credit Union for many years. The one thing I like best is their customer service. No matter what my issue has been, the representative I have spoken with has been extremely helpful and professional. I opened a Roth IRA a few years ago, and I feel very confident in their ability to help me manage the fund and address any issues or problems I have. The only complaint I have is their mobile site. It works fine most of the time, but it's glitchy a lot more often than I think is acceptable.
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.
Founders Federal Credit Union Gives $10 Million
Founders Federal Credit Union, a credit union in Lancaster, South Carolina; will be giving $10million back to its members in the form of a bonus dividend. About half will go to depositors based on their interest earned and the other half will go to borrowers based on their interest paid. There’s no doubt that its 200,000 members are thrilled.
» Founders Federal Credit Union Gives $10 Million
VERY Poor Customer Service
Founders has very poor customer service. I waited in the lobby and sat for 20 minutes when a banker was not helping anyone else. They didn't acknowledge me or say they would be with me in a minute. Once they did see fit to help me, they read my name and social security number out over the phone to another department with her door wide open and a lobby of customers. Poor service, poor training and very poor attitudes there.
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.
FIND ANOTHER Credit Union... STAY AWAY! THEY'll HIRE ANYONE WHO CAN FOG A MIRROR, They Obviously Do Not Do Personality Tests Or Background Testing Before They Hire Someone.
BEWARE: The New banking center manager in Rock Hill (Rocky)... is an idiot. When I was waiting in the lobby, I overheard him cussing when on a phone call conversation to what appeared to be a disgruntled customer. When I addressed him about the situation he became defensive and turned down my loan... I have a 697 Credit score. Obsurd to say the least.
I tried to reach the Vice President of Founders (Darrell Bowie) several times to express my concern, he has still has not returned my calls. I have left him messages daily for over a week. I will be taking my banking elsewhere to say the least.
DONT USE THIS BANK
I HAVE A CAR LOAN WITH THIS BANK AND THEY TOOK IT UPON THEMSELVES TO ALL OF A SUDDEN ADD INSURANCE TO MY ACCOUNT. THE REASON BEING IS MY INSURANCE COMPANY SWITCHED POLICIES BACK IN APRIL AND THEY "THOUGHT" MY INSURANCE HAD LAPSED. I HAVE MY INSURANCE COMPANY TO SEND THEM THE INFORMATION AND THEY CANNOT USE THIS BECAUSE FOUNDERS NAME IS NOT ON IT. YET THEY STILL WANT TO CHARGE ME AS THOUGH I DON'T HAVE INSURANCE AND THE PROOF IS RIGHT IN FRONT OF THEM. I HAVE BEEN BANKING WITH THEM SINCE I HAVE BEEN OLD ENOUGH TO HOLD AN ACCOUNT AND NOTHING GOOD HAS EVER CAME OUT OF THEM. TODAY I DID SOMETHING THAT I HAVEN'T EVER DONE AND THAT WAS OPENED A NEW ACCOUNT AT ANOTHER BANK. PROBABLY THE BEST DECISION I EVER MADE. SO, UNLESS YOU WANT THEM TO ADJUST YOUR INFORMATION WHEN THEY ARE IN THE WRONG, I SUGGEST THAT YOU DO NOT USE THIS BANK.
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 |
