Credit Card Disclosures 4Qtr

Founders Federal Credit Union's filed agreement for Credit Card Disclosures 4Qtr 2024 discloses a 13.5% purchase APR, no annual fee and a 17.9% penalty rate. That purchase rate ranks near the 11th percentile across this corpus of 4,587 filings.

What this filing discloses

Founders Federal Credit Union filed this agreement for Credit Card Disclosures 4Qtr 2024 with the Consumer Financial Protection Bureau. The filing runs six pages.

The filing is explicit about a purchase rate, a balance transfer rate, a penalty rate, an annual fee line and a late payment maximum. No figure appears for a cash advance rate.

How the purchase rate compares

At 13.5%, the purchase APR falls at roughly the 11th percentile of the 2,280 filings indexed here, which sits well down in the cheaper fifth of the set.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

The cost of carrying a balance

Carry $2,000 on this card for a year without paying it down and the purchase rate alone generates roughly $289 in interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $203 annually against that benchmark.

Per statement cycle that is on the order of $22.31 on $2,000, which is the number that actually shows up on a bill.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Charges beyond interest

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

The filing discloses a 6% balance transfer rate without an accompanying fee figure.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

Penalty pricing and late fees

If the account defaults, the filing permits a rate of 17.9%. Among disclosing agreements here that ranks near the 8th percentile.

That is 4.4 points above the standard purchase rate. On a $3,000 balance, the shift from 13.5% to 17.9% adds something like $154 of interest over a year — the real cost of the default, quite apart from the fee itself.

The maximum late fee is $35 — roughly the 54th percentile of the late fee ceilings disclosed across this index.

How it sits in the issuer's own range

17 separate Founders Federal Credit Union filings appear in the corpus. Across that lineup purchase rates span 12.5% to 14.75%; this filing's 13.5% sits above 1 of the comparable ones.

What is outside the disclosure

This page cannot tell you anything about cash advances, because the filing's disclosure table as read does not contain it.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Reading the agreement yourself

The filed PDF is linked from this page and runs six pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 13.5% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost.