Founders Federal Credit Union Expands Across the Carolinas While Keeping Lending Decisions Local

LANCASTER, SC, October 19, 2026 (EZ Newswire) -- Founders Federal Credit Union is expanding its presence across the Carolinas, including into larger metropolitan markets such as Spartanburg and Charlotte, while maintaining a local decision-making model designed to keep lending close to the communities it serves. Headquartered in Lancaster, South Carolina, Founders serves more than 294,000 members through a network of nearly 50 offices and reports more than $5.2 billion in total assets.

“Most of our growth happened in rural communities,” said Bruce Brumfield, CEO of Founders Federal Credit Union. “We take a lot of pride in continuing to serve those markets, even as other financial institutions have moved out of them. We want to give our members the same level of personal service and attention they would get from a small credit union. It doesn’t take a lot to show people that they matter.”

That approach reflects the credit union’s origins. Established in 1950 by employees at the Springs Mills cotton mill, Founders was formed to serve workers who often had limited access to traditional banking services. For more than 75 years, the credit union has built relationships with working families that often span generations.

“Helping people isn’t just our mission — it’s who we are,” said Brumfield. “We were formed to help folks that could not get banking services anywhere else because they were blue-collar textile workers. The heart and soul of our credit union is helping people.”

Much like a traditional bank, Founders provides everyday financial products such as checking accounts, credit cards, and auto and home loans. Unlike a bank, however, Founders is a member-owned, not-for-profit financial cooperative. Instead of passing its profits to shareholders, the credit union returns those earnings to members through better rates, lower fees, and enhanced services.

“There are those in the financial world who believe that you can’t make money while also helping people,” said Brumfield. “To them, all I can say is, ‘Look at our financial statements.’ Our structure works, and we’re never going to shy away from helping anyone.”

More Than Banking

As Founders has grown, its relationship-driven mission has expanded beyond traditional banking. Several years ago, the credit union learned that many members were struggling to find affordable options for Medicaid supplemental insurance. Those conversations resulted in the launch of Founders Insurance Services, whose dedicated agents help members evaluate life, health, auto, and homeowners coverage.

“Our financial planning division, Founders Wealth Management, started the same way,” said Brumfield. “We had members who needed help preparing for retirement and saving for college. We started looking for ways that we could make things easier for them. Now, we’re managing around $700 million in assets for those members.”

Brumfield says the purpose of these expanded services is to give members more resources to build stronger and more secure financial futures.

“We’re here to meet our members’ financial needs,” said Brumfield. “We want them to feel like they can relax because they’re with Founders.”

Local Decisions, Local Service

The same relationship-based approach extends to lending. Even as Founders moves into larger markets, the credit union says it has remained committed to keeping most loan decisions at the local-office level.

“We try to do everything at the local level, and almost every loan we make is reviewed and approved by the local office staff,” said Brumfield. “When someone’s AC breaks in the middle of a South Carolina summer, or they need to buy a new car to get to work, they can’t wait for someone in a corporate office to take a week to approve their loan. They need an answer now.”

That local approach is especially important for members who may have fewer conventional borrowing options. Roughly 35% of Founders’ loans are made to members with substandard credit. The credit union says those borrowers often benefit from having an established relationship with a local loan officer who understands their circumstances.

“Many of these folks are struggling with the day-to-day financial stuff,” said Brumfield. “To serve them effectively, you have to be there for them in person.”

Investing in Service

For Founders, local service and modern technology are complementary. The credit union continues to invest in mobile and online banking, its South Carolina-based contact center, and data-security tools intended to make service more accessible while protecting member information.

“We’re firm believers in meeting our members where they are,” said Brumfield. “If members prefer mobile or online banking, we want them to have the most secure and intuitive systems we can provide. If they need to call us for help, we want to make that process as smooth as possible. That’s why our contact center is located right here in South Carolina.”

Founders also uses AI-powered tools to help protect members from fraud and other security threats.

“Technology is one area where you can’t afford not to spend money,” said Brumfield. “If you fall behind, you’ll never catch back up.”

Founders extended that technology expertise beyond its own operations in 2020 by starting Founders Innovative Technology, which shares IT expertise with other credit unions and local businesses.

Giving Back

Helping members achieve financial security is only one part of Founders’ mission. The credit union also invests in the communities it serves through cash donations, volunteer support, financial education, and partnerships with local organizations.

“We believe that if you’re going to live and operate in a community, you have a social responsibility to do your part to make sure that community thrives,” said Brumfield. “That’s why we’re actively involved with community groups and local charities in every community that we serve.”

Founders supports causes and organizations across its footprint, from youth sports programs and local school districts to food banks, Habitat for Humanity, and Hospice and Community Care. The credit union is also a major sponsor of Camp Cole, a Columbia-based camp for children and teens with serious illnesses and disabilities.

The credit union also provides free financial literacy classes and other resources. Its outreach team works with audiences ranging from middle school students to college students, helping them build stronger financial habits and make informed financial decisions. Members who need personalized advice can also be connected with free financial counseling.

Whether through local lending, expanded financial services, technology, or community partnerships, Founders says each initiative reflects the same member-first philosophy that has guided the credit union for more than seven decades.

“We want to be the very best credit union that we can be, both for our current members and our future ones,” said Brumfield.

About Founders Federal Credit Union

The Founders Difference began in 1950 when a group of Springs Mills employees decided to do something to protect their colleagues from predatory loan sharks and moneymen, and improve the financial wellbeing of their neighbors. What began as an idea took root and flourished as the Springmaid Credit Union expanded throughout the tri-county area, helping our member-owners and their families save and borrow their way to financial security. Seventy years and a name change later, Founders Federal Credit Union is still proudly carrying on the tradition of looking out for our neighbors and working every day to ensure our communities are healthy and strong. Today, Founders serves over 295,000 members through 49 locations across two states and holds over $5 billion in assets. As a not-for-profit financial cooperative, we strive to provide our members with better rates on savings and loans, friendly and personalized service, and a commitment to supporting our communities through financial education, scholarships, and other giving. Stop by to say hello and find out what the Founders Difference can mean for you! For more information, visit foundersfcu.com.

Media Contact

Nicki Nash
nicki.nash@foundersfcu.com