Founders FCU's (SC/NC) 60-Month CD Soars

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Deal Summary: 60-month Share Certificate, 3.29% APY, $500 minimum deposit.

Availability: Residents of the South Carolina counties of Chester, Chesterfield, Laurens, and Union; SC towns of Duncan and Wellford; 69 South Carolina Census tracts; hundreds of SEGs.

In December 2015, Founders Federal Credit Union’s (Founders FCU) 60-month Share Certificate was a rate leader, with a "wow-worthy" 2.52% APY. That rate lasted about six months before dropping to 2.37% APY. It’s time to say “wow” again, as the 60-month Share Certificate is now earning 3.29% APY. The minimum opening deposit is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.29%$500-Founders Federal Credit Union60 Month Share Certificate
Rates as of September 11, 2018.

The 60-month Share Certificate is also offered as an IRA (Traditional, CESA, Roth) at a higher rate of 3.39% APY, with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.39%$500-Founders Federal Credit Union60 Month IRA (Traditional, CESA, Roth)
Rates as of September 11, 2018.

As stated in the Disclosure Page (attached to the online application) the Early Withdrawal Penalty reads as follows:

Unless stated otherwise, the amount of the early withdrawal penalty is based on
the term of your account. For terms of 24 months or greater, 360 days’ dividends.

Thanks to DA reader, ILsaver, for his email about this hot deal.

Availability

Headquartered in Lancaster, South Carolina, Founders Federal Credit Union’s field of membership (FOM) offers a variety of ways to join.

Residency: Individuals, who live, work, worship, attend school, or volunteer in the South Carolina counties of Chester, Chesterfield, Laurens, and Union, and the South Carolina towns of Duncan and Wellford are eligible for membership.

On the first screen of its online application, Founders FCU also lists 69 Census Tracts (Cherokee, 8; Lancaster, 3; Richland County, 26; Spartanburg, 20; Yorktown,12) that qualify for membership. A link to the FFIEC Geocoding/Mapping System website is provided to help determine Census Tract eligibility.

Employment: Employees, retirees, and volunteers of more than 1,000 businesses in South Carolina and North Carolina are eligible to join.

Associations/Organizations: Individuals who are members, or attend, worship, or volunteer at over 180 listed associations/organizations are eligible to join. The 180+ groups listed include, among others, many churches, schools, and home owners associations.

Other: Immediate family members and household members of current Founders FCU members are welcome to apply.

Joining Founders FCU and/or opening a Share Certificate can be done online, or at any of 28 South Carolina branches located in Cheraw, Chester (3), Chesterfield, Clemson, Clinton (2), Columbia (2), Duncan, Fort Mill (3), Gaffney, Indian Land, Kershaw, Lancaster (4), Laurens, Pageland, Rock Hill (4), Spartanburg (4), and Union. Founders FCU has a single North Carolina branch, located on S. Tyron Street in Charlotte.

Credit Union Overview

Founders Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.25% (excellent) based on December 31, 2017 data. In the past year, Founders FCU has increased its non-brokered total deposits by 114.77 million, an excellent annual growth rate of 6.97%. Please refer to our financial overview of Founders Federal Credit Union (NCUA Charter # 24063) for more details.

In 1950, Colonel Elliott White Springs established the Springs Employee Credit Union for the benefit of the employees of Springs Mill. Following years of growth and several mergers, the name was changed to Founders Federal Credit Union in 1993. The Credit Union begin distributing capital dividends in 2000, and to date, has returned over $36 million in to members. Founders FCU is currently the largest credit union in South Carolina, with more than 216,500 members and assets in excess of $2.1 billion.

How the Share Certificate Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Founders Federal Credit Union's 60-month Share Certificate APY currently ranks first.

The above rates are accurate as of 5/9/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Charlotte CD rates, Columbia CD rates, Greenville CD rates, 5-year CD rates

Comments
111
111   |     |   Comment #1
So.... what is it with the less-populated environs of South Carolina these days that seems to correlate with relatively higher Credit Union CD rates? Several weeks ago Sharonview...now this one.... Curious, especially since they don't seem to be centered on the (assumably) more-populated and more trade-oriented coastal cities like Charleston. Any ideas? Is BMW making a large expansion? Other industries....?
Rosedala
Rosedala   |     |   Comment #2
Such a great offer at this time! Too bad it's not for the rest of us not residing in South Carolina. I'm happy for the SC residents though... :)
Bricky
Bricky   |     |   Comment #3
"Soars"?? Funny. Some people are easily impressed.
zzz
zzz   |     |   Comment #4
better than the Fed
Anonymous
Anonymous   |     |   Comment #7
IMO, 3.3% / 5 year with 1 year penalty is not a WOW in this environment. I think earlier deals of 3% Freedom FCU for *3* year term (6m penalty) and 4% Sharonview 5 year (1 yr penalty) were the WOW deals... Now, we should get at least that good to get a WOW I think :-)... the rates keep rising...
Anonymous
Anonymous   |     |   Comment #8
The next posted rate of 2.99% at Gulf Coast FCU for 3 years / 6 month penalty is a better deal IMO... (But yes, both that one and this one are georgraphy-limited deals and other other ones I mentioned in #7 were national.)
Founders FCU Bumps Up Rate On 60-Month CD
Availability: Residents of South Carolina (SC) counties of Chester, Chesterfield, Laurens, and Union; SC towns of Duncan and Wellford; 43 SC Census tracts; hundreds of SEGs.

In the beginning of this year, I wrote about Founders Federal Credit Union’s (Founders FCU) 60-month Share Certificate. At that time, the APY was competitive but not really "wow-worthy;" that changed on Monday with an increase of 25 basis points, resulting in a 2.52% APY.

The minimum opening deposit is $500, with no maximum balance cap. The 60-month Share Certificate...

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Founders FCU Offers Competitive Rate 60-month CD and IRA

Availability:

Residents of South Carolina (SC) counties of Chester, Chesterfield, Laurens, and Union; SC towns of Duncan and Wellford; 43 SC Census tracts; hundreds of SEGs.

Founders Federal Credit Union (Founders FCU) is offering a competitive rate 60-month Share Certificate (2.27% APY). The minimum opening deposit is $500 and there is no maximum balance cap. This 60-month Share Certificate (CD) is also offered as an IRA (Traditional, CESA, Roth) at a higher rate of 2.37% APY, with the same funding requirements.

As stated on Founders FCU’s Disclosure Page,...

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Founders Federal Credit Union is offering a very competitive 4-year CD with a 3.03% APY. The 3-year CD is also competitive with a 2.02% APY. The IRA CDs have rates that are even higher: 3.14% APY for 4 years and 2.12% APY for 3 years. Minimum deposit is $500. These rates are listed in the credit union's rates page as of 3/28/2011.

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4.06% 48-Month CD & 3.29% 36-Month CD at Founders FCU in SC/NC - Local Only
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  • 2.50% APY 24-35 months
Minimum deposit is $500. Rates are 10 basis points higher for IRA CDs. These rates are listed at the credit union's rates page as of 12/08/09.

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5.61% 13-Month CD at a Carolina CU (Founders)
Founders Federal Credit Union is offering a special 5.61% APY 13-month fixed rate share certificate. The minimum deposit is $500. There's also a 13-month IRA certificate special with a yield of 5.72% APY.

Unfortunately, this current special rate is much lower than what they offered last year when the 13-month CD special yield was 6.14% APY.

Membership is open to those who live, work or worship in Chester and Chesterfield counties of South Carolina. The cities of Wellford and Duncan are also included. In addition, there's a long list of eligible companies...



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