Dec, 31, 2023 — FOUNDERS FEDERAL CREDIT UNION is a federal credit union headquartered in LANCASTER, SC with 40 branch locations and about $4.54 billion in total assets. Opened 63 years ago in 1961, FOUNDERS FEDERAL CREDIT UNION has about 262,059 members and employs 833 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FOUNDERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 737 Plantation Rd LANCASTER, SC 29720 |
| Phone: | (800) 845-1614 |
| Fax: | (803) 289-5936 |
| Website: | https://www.foundersfcu.com |
| Branches: | 40 branch locations |
| Members: | 262,059 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24063 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,537,263,191 |
| CEO/Manager: | Bruce A Brumfield |
| Chairperson: | Roy A Hunt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 536,396,731 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,956,918,488 |
| Unsecured Loans | 606,207,163 |
| Other Loans | 1,051,013,853 |
| TOTAL LOANS | 3,614,139,504 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -57,725,885 |
| Land And Building | 93,651,274 |
| Other Fixed Assets | 15,267,132 |
| NCUSIF Deposit | 32,767,898 |
| All Other Assets | 2,531,641 |
| TOTAL ASSETS | 4,537,263,191 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 15,945,517 |
| Notes & Interest Payable | 190,000,000 |
| Accounts Payable & Other Liabilities | 71,391,356 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 489,827,130 |
| Regular shares | 949,267,371 |
| All Other Shares & Deposits | 2,295,480,714 |
| TOTAL SHARES & DEPOSITS | 3,734,575,214 |
| TOTAL LIABILITIES | 4,012,153,082 |
| Regular Reserve | 0 |
| Other Reserves | 2,098,589 |
| Undivided Earnings | 523,011,520 |
| TOTAL EQUITY | 525,110,109 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,537,263,191 |
| INCOME & EXPENSE | |
| Loan Income | 225,643,904 |
| Investment Income | 16,972,292 |
| Other Income | 29,867,613 |
| Total Employee Compensation & Benefits | 77,254,097 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 76,549,064 |
| Non-operating Income & (Expense) | -70,488 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 40,112,540 |
| Cost of Funds | 76,201,356 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 58,984,800 |
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