Having a healthy and secure savings account brings peace of mind.  Franklin First understands this which is why funds are insured by the National Credit Union Administration (NCUA)—the same 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. The amount of free insurance coverage on your funds is $250,000 on savings.  To learn more, please use the following links:

Savings (Share) Accounts are 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.  Direct deposit is available through an ACH system.

The Frankie Fund Saver Club is a kid’s savings account created to teach and promote financial education and help laying the foundation for creating good savings habits.  This account is intended to be an interactive experience for the child, and the requirement is that the child will be present and participating in the account opening and in transactions to earn rewards.  

The Franklin Fund Savers Club can be opened for those ages 3-12.   

Kids will receive $5.00 after 15 deposits of $5.00 or more. The reward can be earned up to 4 times. In addition, a letter of congratulations, along with a special reward will be sent in the mail to the child. 

Kids will receive a savings card that will help them track their deposits that they can turn in when they hit 15 deposits.     

*Deposits cannot be split to create multiple deposits in one interaction.  Remember this account is intended to teach financial education and incentivize kids to establish good savings habits.  The incentive rewards, including the $25.00 membership, will only be applied if the child is present and participating in the transactions.  If parents would like to make deposits to the child’s account as well, this can be done but will not count toward the incentive rewards that the child is working toward.

An HSA allows you to put away money for routine and unexpected medical expenses.  Since there is no “use it or lose it” requirement, your unused HSA dollars can accumulate tax deferred to pay for future health care costs.  Funds deposited into the account belong to you, so they stay with you when you change employers. This account is used to pay for qualified medical expenses.

Account Details

Franklin First offers both HSA Share Savings and HSA Checking accounts for your convenience. You will receive an account statement quarterly or monthly depending on the account type selected, which details all deposits and withdrawals.  Account balances are insured up to the limits imposed by the NCUA.

  • No minimum balance to open & no monthly fees (Membership Required)
  • Tax-free withdrawals** for qualified medical expenses

HSA Eligibility

To open and make contributions to an HSA, you must meet the following requirements:

  • You must be covered under a High Deductible Health Plan (HDHP).
  • You cannot be covered by any other health plan that is not a HDHP.
  • You are not enrolled in Medicare.
  • You are not claimed as a dependent on another person’s tax return.
  • You are younger than 65 years old. (If you are 65 or over and choose to continue working, but are not enrolled in Medicare, you are still eligible.)

To confirm your eligibility, check with your Employer, Health Insurance Provider, or the U.S. Treasury’s Website on Health Savings Accounts.

Frequently Asked HSA Questions

  1. What is a “High Deductible Health Plan” (HDHP)?
    A HDHP is a health insurance plan that meets certain minimum deductible and maximum out-of-pocket (including deductibles and co-pays) expenses. HDHPs can have first dollar coverage (no deductible) for preventative care and higher out-of-pocket (copays &coinsurance) for non-network services.  HDHP amounts are subject to adjustment based on Cost-of-Living Adjustments (COLAs) by the IRS, for the current years eligibility requirements - visit the Internal Revenue Service website here to learn more.
  2. How much can be contributed to a Health Savings Account?
    Annual contribution limits can be viewed on the Internal Revenue Service website.
  3. Do Health Savings Account funds roll over year after year and get invested?
    Yes, the money invested in a Health Savings Account rolls over year after year.
  4. How do I access funds?
    Access to the account is via check or through cash withdrawals at our branch.
  5. Who has control over the money invested in a Health Savings Account?
    In most cases the individual will have control over the assets.

*Ask your Employer or Health Insurance Company if your health insurance plan is considered a HDHP and makes you eligible to open and make contributions to an HSA.

**Franklin First is not a financial or tax advisor. If you need tax or investment advice, we encourage you speak with a skilled tax professional.

A Money Market account provides the best dividend rate available without locking your money in for a specific term.  Direct deposit is available through an ACH system.  Franklin First offers four separate rate levels, based on account balance. 

Known in other financial institutions as certificates of deposit (CDs), Franklin First Term Certificates only require a minimum balance of $500.00.  A Term Certificate usually offers higher yields than regular savings accounts, and in exchange, you leave your money in the account for a specified amount of time, ranging fromm 3 months to 5 years.  Dividends or earnings are quoted in terms of the annual percentage yield (APY).  These can be compounded yearly, quarterly, monthly, or even daily basis.  Contact Us for more information on opening a Term Certificate and for current rate information. Link to Contact Us page.

Save for those important getaways at a higher rate of interest. Withdrawals can be made twice a year at your discretion, and money can be direct deposited through an ACH system.  Contact Us for more information on opening a Vacation Club Account and for our current rate information.

Our Holiday Club account allows you to save all year long to make sure you’re prepared for the holiday purchases.  Funds from your Holiday Club account are automatically transferred to your regular savings account in early October, unless you make alternate arrangements with a Member Service Representative.  Funds can also be direct deposited through an ACH system.  Contact Us for more information on opening a Holiday Club Account and for our current rate information.

We know that your pets are a part of your family, which is why we’ve created the Pet Care Club Account—designed to help you care for your pet’s routine and unexpected needs.

How it works:

  • Add money to the account via direct deposit, in the branch, or via mobile deposit.
  • Withdrawals can only be made to cover expenses related to your pet’s care, and you can do this by bringing in a receipt, vet bill, or estimate for care.
  • The Pet Care Club funds can be used for veterinary care, medicine, food, pet care supplies, grooming, boarding, and pretty much any pet care related expense.

It is never too early to begin saving for retirement.  Franklin First offers:

Traditional IRA* 

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). 


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.

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 non-deductible, but the earnings and contributions when used to pay for qualified education expense are tax-free. 

*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.

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To report a lost or stolen Franklin First VISA credit card, call: (800) 449-7728From outside the U.S. call: (727) 299-2449.

To report a lost or stolen Franklin First ATM or Debit/Check Card during regular business hours call: (413) 774-6700.  After hours call: (800) 472-3272