LANCASTER, S.C. — In times of stale member growth, $1.4 billion Founders Credit Union has shown an expertise in gaining members, reporting a 9.6% membership increase over last year.
According to President/CEO Bruce Brumfield, Founders has been growing steadily since 1995, showing an 8% to 10% membership increase each year. Last year, Founders merged with two smaller credit unions, GT&R Employees North Carolina Federal Credit Union and Torrco Employees Federal Credit Union. Founders gained approximately 1,500 members in the first merger and about 3,500 members in the second.
"You're going to pick up members in mergers, but a lot of the times they look large and once you go in and clean them up its not as many members," Brumfield said.
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