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 |
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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 |
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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 |
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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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» See also Statement of Financial Condition