Dec, 31, 2022 — FOUNDERS FEDERAL CREDIT UNION is a federal credit union headquartered in LANCASTER, SC with 38 branch locations and about $3.97 billion in total assets. Opened 62 years ago in 1961, FOUNDERS FEDERAL CREDIT UNION has about 249,839 members and employs 774 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: | 38 branch locations |
| Members: | 249,839 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,972,900,895 |
| CEO/Manager: | Bruce A Brumfield |
| Chairperson: | Jay C Rainey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 388,497,320 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,750,638,763 |
| Unsecured Loans | 501,858,901 |
| Other Loans | 935,704,646 |
| TOTAL LOANS | 3,188,202,310 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -23,517,750 |
| Land And Building | 84,487,363 |
| Other Fixed Assets | 11,966,889 |
| NCUSIF Deposit | 29,497,712 |
| All Other Assets | 1,085,142 |
| TOTAL ASSETS | 3,972,900,895 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 5,615,450 |
| Notes & Interest Payable | 50,000 |
| Accounts Payable & Other Liabilities | 58,811,266 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 502,771,134 |
| Regular shares | 1,066,408,917 |
| All Other Shares & Deposits | 1,855,025,177 |
| TOTAL SHARES & DEPOSITS | 3,424,205,228 |
| TOTAL LIABILITIES | 3,488,681,944 |
| Regular Reserve | 0 |
| Other Reserves | -1,780,722 |
| Undivided Earnings | 485,999,673 |
| TOTAL EQUITY | 484,218,951 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,972,900,895 |
| INCOME & EXPENSE | |
| Loan Income | 122,751,563 |
| Investment Income | 2,586,898 |
| Other Income | 18,797,306 |
| Total Employee Compensation & Benefits | 50,319,090 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 55,730,710 |
| Non-operating Income & (Expense) | 105,245 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,114,684 |
| Cost of Funds | 22,933,888 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 54,568,405 |
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