SAVINGS

The financial health of your Credit Union is, as always, on solid ground. And your funds are insured by the National Credit Union Administration (NCUA), the federal agency that administers the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, like the FDIC’s Deposit Insurance Fund, is a federal insurance fund backed by the full faith and credit of the U.S. Government. Recently the amount of free insurance coverage on your funds was raised to $250,000 on savings. Click on the following links for more in-depth information on Your Insured Funds, including share insurance estimators and frequently asked questions.

NCUA Share Insurance F.A.Q.
Share Insurance Estimator.
NCUA Insured Funds Brochure.
How Your Accounts Are Federally Insured?

 

   


SAVINGS (SHARE) ACCOUNTS

Our basic savings program. Each member is required to have a minimum balance of $25.00 (one share) in a regular share account to maintain their credit union membership.
 

   


INDIVIDUAL RETIREMENT ACCOUNTS (IRA)

 

Traditional

Contributions made to a Traditional IRA have the potential to be tax deductible; all earnings are tax free until withdrawn. Investment options include an IRA Share or IRA CD (see current CD rate schedule for details). For all tax related questions please consult a skilled tax advisor. For questions regarding IRA’s please call for details.*

ROTH

Contributions are not tax deductible though your contributions may qualify you for a Savers Tax Credit of no more than $1000. All earnings are tax-free, and have the potential to be tax-free at the time of withdrawal. For all tax related questions please consult a skilled tax advisor. For questions regarding IRA’s please call for details.*

Coverdell Educational Savings Accounts (ESA)

This IRA is designed to help a fund a child’s education (Elementary, Secondary, or Post-Secondary). The contributions are nondeductible, but the earnings and contributions when used to pay for qualified education expense are tax-free. For all tax related questions please consult a skilled tax advisor. For questions regarding IRA’s please call for details.*

 

*Franklin First is not a financial advisor. If you need advice pertaining to investment of your retirement accounts, we suggest you contact a skilled financial advisor.

 

   

 

VACATION CLUB

Save for those important getaways at a higher rate of interest. Withdrawals can be made twice a year at your discretion.

 

   


HOLIDAY CLUB

Smart spending starts with smart savings. Our Holiday Club account allows you to save all year long to make sure you’re prepared for the holidays. Funds from your Holiday Club account are automatically transferred to your regular savings account in early October, unless you make arrangements otherwise with a Member Service Representative. Don’t let the holidays sneak up this year; open your Holiday Club account today and shop for your loved ones without the stress.

 

   

 

INVESTMENTS

 

Money Market Accounts

The best dividend rate available without locking your money in for a specific term. Four separate rate levels are available, based on account balance.
 

 

Term Certificates
Known in other financial institutions as certificates of deposit (CDs). A $500.00 minimum balance is required.