Featured Savings Rates
Featured Accounts

Founders Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
2.27%5-year CD60 Month Share Certificate
2.37%5-year IRA60 Month IRA (Traditional, CESA, Roth)
2.02%4-year CD48 Month Share Certificate

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 109th largest credit union in the nation. It was established in 1961 and as of September of 2016, it had grown to 587 employees and 209,537 members at 31 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.
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Reviews (8)

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 loyaltyĀ¯ 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

Posted by: CLTinCLT | Oct 11, 2016

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

Posted by: Sispan | Aug 22, 2014

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

Posted by: horizon | Jan 7, 2013

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.

Posted by: ROB | Dec 5, 2011

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

Posted by: Anonymous | Jun 30, 2011

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
A+

Health Grade Components

Overall
NCUA #24063
Year Chartered1961
Employees587
Primary Regulator
Profit Margin
Return on Assets - YTD0.88%
Return on Equity - YTD6.01%
Annual Interest Income$70.1MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$2.00B$1.82B
LoansQ3 2016vs Q3 2015$1.59B$1.43B
DepositsQ3 2016vs Q3 2015$1.61B$1.44B
Equity CapitalQ3 2016vs Q3 2015$287.0MM$274.7MM
Loan Loss AllowanceQ3 2016vs Q3 2015$20.6MM$20.3MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$10.8MM$15.4MM
Real Estate OwnedQ3 2016vs Q3 2015$1.4MM$2.5MM
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%--Variable Rate IRA
0.15%--Share/Savings
0.15%--Christmas Club

Founders Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%*$50k*-Money Market Plus
OTHER TIERS: 0.35% $1k - $25k | 0.45% $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
3.03%$50$3k12 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

APYMINMAXACCOUNT NAMEVIEW 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
Locations

Founders Federal Credit Union has 31 locations. Click to view all Founders Federal Credit Union locations.