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.

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 with minimum deductible of $1,400 (self-only coverage) or $2,800 (family coverage). The annual out-of-pocket (including deductibles and co-pays) cannot exceed $6,900 (self-only coverage) or $13,800 (family coverage). HDHPs can have first dollar coverage (no deductible) for preventive care and higher out-of-pocket (copays & coinsurance) for non-network services.
  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). 

ROTH IRA*

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.

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) 264-5578.