Founders Federal Credit Union

Overview / Commentary
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 87th largest credit union in the nation. It was established in 1961 and as of March of 2024, it had grown to 805 employees and 265,251 members at 42 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

Posted by: |

Have been a member of Founders for over 30 years.
Always excellent service and the best rates.
Highly recommend.

Excellent Service!

Posted by: |

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!

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.

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



Health Grade Components

NCUA #24063
Year Chartered1961
Primary Regulator
Profit Margin
Return on Assets - YTD1.15%
Return on Equity - YTD9.9%
Annual Interest Income$69.8MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$4.73B$4.14B
LoansQ1 2024vs Q1 2023$3.63B$3.34B
DepositsQ1 2024vs Q1 2023$3.94B$3.6B
Equity CapitalQ1 2024vs Q1 2023$538.2MM$479.7MM
Loan Loss AllowanceQ1 2024vs Q1 2023$60.1MM$47.3MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$21.7MM$11.3MM
Real Estate OwnedQ1 2024vs Q1 2023$0$46K
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* 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

4.07%$0-Loyalty Select
2.53%$500-Variable Rate IRA
0.25%$0-Savings Account
0.25%$0-Christmas Club

Founders Federal Credit Union Money Market Rates

2.78%*$100k*-Money Market Plus
OTHER TIERS: 1.76% $1k - $50k | 2.27% $50k - $100k

Founders Federal Credit Union CD Rates

4.84%$500-12 Month Share Certificate
4.06%$500-24 Month Share Certificate
3.80%$500-36 Month Share Certificate
3.80%$500-12 Month Youth Certificate
3.55%$500-48 Month Share Certificate
3.29%$500-60 Month Share Certificate
3.03%$500-84 Month Loyalty Share Certificate
2.78%$500-84 Month Share Certificate

Founders Federal Credit Union IRA Rates

5.09%$500-12 Month IRA
4.32%$500-24 Month IRA
4.06%$500-36 Month IRA
3.80%$500-48 Month IRA
3.55%$500-60 Month IRA
3.29%$500-84 Month Loyalty IRA
3.03%$500-84 Month IRA


Charlotte Area

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