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 111th largest credit union in the nation. It was established in 1961 and as of September of 2021, it had grown to 700 employees and 229,389 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

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!

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

Posted by: |

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.



Health Grade Components

NCUA #24063
Year Chartered1961
Primary Regulator
Profit Margin
Return on Assets - YTD1.69%
Return on Equity - YTD13.68%
Annual Interest Income$102.3MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$3.47B$3.00B
LoansQ3 2021vs Q3 2020$2.54B$2.34B
DepositsQ3 2021vs Q3 2020$2.94B$2.49B
Equity CapitalQ3 2021vs Q3 2020$424.3MM$369.4MM
Loan Loss AllowanceQ3 2021vs Q3 2020$21.9MM$28.2MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$7.6MM$9.5MM
Real Estate OwnedQ3 2021vs Q3 2020$69.00K$391.00K
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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

4.07%--Loyalty Select
0.50%$500-Variable Rate IRA
0.15%--Christmas Club

Founders Federal Credit Union Money Market Rates

0.45%*$50k*-Money Market Plus
OTHER TIERS: 0.25% $1k - $25k | 0.35% $25k - $50k

Founders Federal Credit Union CD Rates

1.66%$500-84 Month Loyalty Share Certificate
1.41%$500-84 Month Share Certificate
1.15%$500-60 Month Share Certificate
0.90%$500-36 Month Share Certificate
0.90%$500-48 Month Share Certificate
0.65%$500-12 Month Share Certificate
0.65%$500-24 Month Share Certificate
0.65%$50-12 Month Youth Certificate
0.40%$500-6 Month Share Certificate

Founders Federal Credit Union IRA Rates

2.02%*$100k*-84 Month Loyalty IRA
OTHER TIERS: 1.76% $500 - $50k | 1.86% $50k - $100k
1.76%*$100k*-84 Month IRA
OTHER TIERS: 1.51% $500 - $50k | 1.61% $50k - $100k
1.51%*$100k*-60 Month IRA
OTHER TIERS: 1.26% $500 - $50k | 1.36% $50k - $100k
1.26%*$100k*-36 Month IRA
OTHER TIERS: 1.00% $500 - $50k | 1.10% $50k - $100k
1.26%*$100k*-48 Month IRA
OTHER TIERS: 1.00% $500 - $50k | 1.10% $50k - $100k
1.00%*$100k*-12 Month IRA
OTHER TIERS: 0.75% $500 - $50k | 0.85% $50k - $100k
1.00%*$100k*-24 Month IRA
OTHER TIERS: 0.75% $500 - $50k | 0.85% $50k - $100k


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