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 105th largest credit union in the nation. It was established in 1961 and as of December of 2022, it had grown to 761 employees and 251,066 members at 39 locations. Founders Federal Credit Union's money market rates are 5X 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 CD Rates Plummet Hard. 7 Year CD: 5.09% -> 3.03% - 3/3/2023

20 Million Given Back To Depositors on 2/13/23 - 2/14/2023

Founders FCU just gave back 20 million to savers and believe me it was HUGE(percentage terms), especially if you had significant assets on deposit all of 2022.Their sever crashed due to so much activity on 2/13...everyone including myself was surprised, was unbelievable! Look at their long term CD rates (84 month for example) and next year you just might be surprised and a little richer as well.

Check Out These New Certificate Rates and Longer Terms Too! - 2/7/2023

Pretty nice if you're eligible to join. Maybe it will force some other FI's to think about being more competitive??? Dividend Rate Annual Percentage Yield 12 Month Certificate 3.50% 3.55% 24 Month Certificate 3.75% 3.80% 36 Month Certificate 4.00% 4.06% 48 Month Certificate 4.25% 4.32% 60 Month Certificate 4.75% 4.84% 84 Month Certificate1,2 5.00% 5.09% 84 Month Loyalty Certificate1,3 5.25% 5.35% Youth Certificate – 12 Months 3.50% 3.55% Dividend Rate Annual Percentage Yield 12 Month IRA 3.75% 3.80% 24 Month IRA 4.00% 4.06% 36 Month IRA 4.25% 4.32% 48 Month IRA 4.50% 4.58% 60 Month IRA 5.00% 5.09% 84 Month IRA1,2 5.25% 5.35% 84 Month Loyalty IRA1,3 5.50% 5.61%

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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 Unhappy

Posted by: |

I have been with Founders for over 30 years .I wanted to get an extension to my current loan I was a couple payments behind.So I talked with the loan officer who told me that I need to make my payment on my car loan and I my personal loan .Which I did and she sent it to get approval.Now I emailed her several times No reply from her. I texted her still no reply.She replied 30 minutes before they closed.Emailed and said I can’t get the loan until I have 90!days of on time payments..That pissed me off because she had me thinking if I caught the payments up I could get the loan..Founders help WHO They want too help…Uhhhhhh…!



Health Grade Components

NCUA #24063
Year Chartered1961
Primary Regulator
Profit Margin
Return on Assets - YTD1.36%
Return on Equity - YTD11.2%
Annual Interest Income$174.5MM
Assets and Liabilities
AssetsQ4 2022vs Q4 2021$4.02B$3.60B
LoansQ4 2022vs Q4 2021$3.29B$2.60B
DepositsQ4 2022vs Q4 2021$3.45B$3.05B
Equity CapitalQ4 2022vs Q4 2021$485.2MM$431.8MM
Loan Loss AllowanceQ4 2022vs Q4 2021$24.4MM$22.8MM
Unbacked Noncurrent LoansQ4 2022vs Q4 2021$14.3MM$8.0MM
Real Estate OwnedQ4 2022vs Q4 2021$0$145.00K
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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%--Loyalty Select
1.00%$500-Variable Rate IRA
0.25%--Christmas Club

Founders Federal Credit Union Money Market Rates

2.02%*$50k*-Money Market Plus
OTHER TIERS: 1.46% $1k - $25k | 1.61% $25k - $50k

Founders Federal Credit Union CD Rates

4.58%$500-36 Month Share Certificate
4.32%$500-24 Month Share Certificate
4.06%$500-12 Month Share Certificate
4.06%$500-48 Month Share Certificate
4.06%$50-12 Month Youth Certificate
3.80%$500-60 Month Share Certificate
3.29%$500-84 Month Loyalty Share Certificate
3.03%$500-84 Month Share Certificate

Founders Federal Credit Union IRA Rates

4.84%$500-36 Month IRA
4.58%$500-24 Month IRA
4.32%$500-12 Month IRA
4.32%$500-48 Month IRA
4.06%$500-60 Month IRA
3.55%$500-84 Month Loyalty IRA
3.29%$500-84 Month IRA


Charlotte Area

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