Dividend Amp Frequently Asked Questions

If I enroll in Dividend Amp¹ while visiting a Founders Office but later decide I’d like to keep my dividends in the account they are posted to, do I have to come into an office to sign another form?  
No, you are welcome to enroll or unenroll via Founders Online. Please just wait one day from your office visit before changing your enrollment online. (If changes are made in a Founders office the same day as Founders Online, the election you made while in our office will override the Founders Online change you completed.)

How quickly does my enrollment take effect?
It depends on the channel in which you initiated your enrollment (in an office, in Founders Online, or while opening a new membership/account) but please allow up to three business days. If these three days cross a dividend posting period, your enrollment may not take effect until the next time dividends are posted.  

How quickly does my unenrollment take effect?
It depends on the channel in which you made your unenrollment request (in an office, in Founders Online, or while opening a new membership/account) but again it can take up to three days. If these three days cross a dividend posting period, your unenrollment request may not take effect until the next time dividends are posted.  

I have several certificates with Founders earning several different dividend rates. How does the Dividend Amp Savings Program benefit me? 
When certificate rates are paying a higher dividend than the Loyalty Select² account, it may be in your best interest to not enroll or unenroll in the Dividend Amp Savings Program. It really depends on your specific balances and rates, as well as any personal savings goals you have set.

I’d like to enroll my Savings Account and my Money Market Plus³ in this program but leave my Certificates as they are. Can I do that?
Enrolling in this program will enroll all eligible suffixes under your selected account which earn dividends, except for IRA Certificates. Accounts which may be eligible include Savings Accounts, Money Market Plus and Certificates.

So, if I enroll in this program, I will start earning 4.07% APY on all my accounts?  
No, the annual percentage yield (APY) you earn on your Savings Accounts, Money Market Plus and Certificates will not be affected by enrolling in this program. But, once dividends post to those accounts, they are immediately transferred to your Loyalty Select Account that is currently earning 4.07% APY.

Why are IRA accounts excluded from this program?
Since we are transferring the dividends out of the account, IRAs are excluded because of the tax implications of withdrawals from IRA accounts.  

I have a certificate with over $100,000 and the dividends are currently compounding within that certificate. If I transfer my dividends out to the Loyalty Select Account which has a small balance but a high rate, am I really gaining anything? 
This really depends on your specific balances and rates. But, it’s probably worth doing the math!  And remember, as your balance grows in the Loyalty Select Account over time, you will still benefit from the compounding dividends.

¹ All account types may not be eligible for the Dividend Amp program. By enrolling, all suffixes under the selected account number are enrolled, except for IRA Certificates which are not eligible. The Credit Union reserves the right to cancel or modify the Dividend Amp program at any time. For more information please visit foundersfcu.com/dividend-amp. For a complete list of terms, conditions and qualifications, please call 800-845-1614 or go to foundersfcu.com/loyalty-products-terms-and-conditions.
² Annual Percentage Yield of 4.07% is accurate as of October 1, 2023. The APY may change after the account is opened. No minimum balance is required to open the account or earn the advertised APY. Fees may reduce earnings. Deposits can only be made by FFCU through qualifying or enrolling in a Loyalty Select Account Program. Members will be responsible for any associated tax liability and may receive a 1099-MISC and a 1099-INT as applicable. All members and account types may not be eligible for a Loyalty Select account. Click here for full terms and conditions
³ Minimum balance of $1,000.00 required to earn the current dividend rate. If the balance falls below this amount, the regular savings dividend rate will apply.