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 110th largest credit union in the nation. It was established in 1961 and as of June of 2019, it had grown to 671 employees and 221,146 members at 33 locations. Founders Federal Credit Union's CD rates are 96% 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

Just Ended The 4.16% Rate On IRA 01/08/19 - 1/10/2019

If you are a resident in several counties of SC and awesome credit union to work with.

Founders Federal Credit Union (SC) 60-Month CD APY Leaps Up - 11/15/2018

Founders Federal Credit Union (SC/NC) has boosted the rate on its 60-month Share Certificate to 4.06% APY. Minimum deposit is $500, with no stated balance cap.

5 Yr Share Certificate @ 4.06 APY - 11/13/2018

I stumbled across our local Credit Union offering 4.06 APY (4%) for a 5 year share certificate

View all posts from:

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.

Unhappy Customer

I have been a member since 1981, but that doesn't count for much when it comes to their food through service.
They changed the terms of my credit card without ever notifying me until such time their computer started kicking out messages more than a year after the change. They they denied ever making the change.
My most recent experience has been when I applied for a mortgage. My salesperson looked at all my documents and said there would be no problem with pre-approval. After 2 weeks of inquiring the notified me they would not provide the loan. The rejection was based on some obsure ratio based on losses reported on my tax return. It was very obvious that the underwriter could not read a tax form. I was forced to then scramble to find another lender to meet my closing date which approved my loan in 20 days. Their incompetence caused a significant amount of of frustration and added expense.

Previous Multiple Count Customer

Friday I pulled out all of my accounts as you charged my 10 year old grandsons account $30 as someone said his address was incorrect. I have all the correct numbers on his account and I cannot believe you took money from a child's account. I will never bank with you again.



Health Grade Components

NCUA #24063
Year Chartered1961
Primary Regulator
Profit Margin
Return on Assets - YTD1.44%
Return on Equity - YTD10.58%
Annual Interest Income$61.6MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$2.49B$2.28B
LoansQ2 2019vs Q2 2018$2.10B$1.90B
DepositsQ2 2019vs Q2 2018$2.07B$1.86B
Equity CapitalQ2 2019vs Q2 2018$338.3MM$307.2MM
Loan Loss AllowanceQ2 2019vs Q2 2018$23.7MM$24.8MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$9.3MM$12.7MM
Real Estate OwnedQ2 2019vs Q2 2018$529.00K$416.00K
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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

5.38%--Loyalty Select
0.80%$5-Variable Rate IRA
0.25%--Christmas Club

Founders Federal Credit Union Money Market Rates

0.80%*$50k*-Money Market Plus
OTHER TIERS: 0.60% $1k - $25k | 0.70% $25k - $50k

Founders Federal Credit Union Checking Account Rates

0.05%--Checking Account

Founders Federal Credit Union CD Rates

3.03%$500-60 Month Share Certificate
3.03%$50$3k12 Month Loyalty Advantage Certificate
2.78%$500-48 Month Share Certificate
2.52%$500-36 Month Share Certificate
2.27%$500-24 Month Share Certificate
1.76%$500-12 Month Share Certificate
1.76%$50-12 Month Youth Certificate
1.00%$500-6 Month Share Certificate

Founders Federal Credit Union IRA Rates

3.14%$500-60 Month IRA
2.88%$500-48 Month IRA
2.63%$500-36 Month IRA
2.37%$500-24 Month IRA
1.86%$500-12 Month IRA


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