Franklin Mint Federal Credit Union (FMFCU)

Overview / Commentary
5 Hillman Dr Ste 100
Chadds Ford, PA 19317-9998

Franklin Mint Federal Credit Union (FMFCU) is headquartered in Chadds Ford and is the 9th largest credit union in the state of Pennsylvania. It is also the 270th largest credit union in the nation. It was established in 1970 and as of March of 2021, it had grown to 328 employees and 118,195 members at 25 locations. Franklin Mint Federal Credit Union (FMFCU) has a B+ health rating.

Field of Membership Restrictions

Membership in Franklin Mint Federal Credit Union is open to those who live, work, worship, attend school, or volunteer in the City of West Chester, the Borough of West Chester, specific areas in Norristown, southeastern Delaware County (PA), or northern New Castle County (DE). Membership is also open to anyone who is associated with the Credit Union's partnered organizations or members of the FMFCU Foundation.
See current membership details

Franklin Mint Federal Credit Union

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Working with the local branches of the franklin mint credit union has been great. They really compete against larger banks by offering low rates, small fees (if any) and the ability to hold a savings account without having to keep a minimum balance within the account. Working with FMFCU has allowed me to save money that I would have likely lost in typical bank fees and put more of those funds to a savings account. The staff are always polite and friendly as well and are always willing to help with any questions regarding current accounts or opening a new account. I will continue to bank with this company as they have treated me like a valuable customer.

Franklin Mint Federal Credit Union -- a very good starter

I've been using Franklin Mint Federal Credit Union (FMFCU) as my primary bank for a little over a decade and it's been a positive experience overall. Back when I made an account there, its savings interest rates were around 7% for amounts up to $500 for its Super Saver accounts and around 3% for its larger Vacation/Holiday accounts (up to $2500), though the rates dropped off to less than 0.2% past those limits. Those were great interest rates even then. In the last few years, the interest rates on those accounts have dropped to 1.99%, which is still great for a bank/credit union during an era where extremely low interest rates are the norm. FMFCU's customer service is pretty good, though the ability to withdraw cash surcharge-free suffers if you travel outside of the Philadelphia area at all. FMFCU's web experience is acceptable and does what you need it to do, though it's nothing special. Its mobile app is not particularly good, however, and when I want to check my balances on my phone, I usually use the mobile web version instead of the app. My experience is positive overall. The one big complaint I have is the lack of the ability to send/deposit checks through the mobile app, but given its poor design, that might not be in the cards.

Franklin Mint Provides a Great Customer Experience

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I have been a long time member of Franklin Mint Federal Credit Union, and there has never been a day that I have regretted my decision. While many friends and family complain about their high banking fees, Franklin Mint has always been kind and understanding in my dealings with them. Their customer service has always been stellar as well, although I'll admit most of the time their banking experience is so seamless that I do not have to contact them directly very often. If you're in the market for opening a new account or want to get away from big banks, they are a great opportunity to do so.

FMFCU Went From Hero To ZERO!

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FMFCU was a great bank when I joined 35+ years ago (checking, 2 savings and a money market account). NO LONGER the case!! Ridiculous fees/hidden charges, absolutely horrific service and a terrible online platform. They practically force you to go paperless yet printing your statements is time consuming, complicated and antiquated (must open numerous windows, save to computer, reformat to avoid excessive waste of paper, ink and time, then open from file and finally, hopefully, print). Finally fed up, I tried to close 3 of my 4 accounts only to be told they could wire at $25 PER ACCOUNT, or mail hard checks. I refuse to pay $75 for my own money so opted for checks and explicitly requested (in writing) THREE separate checks, one for each account (after all, they were going to charge me a wire fee for each account, right?). No surprise, my instructions were ignored and I received ONE check for the total amount of the three accounts which I tried to deposit into my other CU’s ATM. Nope. Since they ignored my instructions to cut three separate checks, the single check amount exceeded ATM deposit limit. FMFCU refused to help leaving me no option other than wasting an entire day (3+ hour drive each way) to deposit in the new bank’s main branch (due to Covid, all other branches were closed to walk-ins). A week later I log into the one remaining account I left open to ensure all checks had cleared and I see an $8.95 “Inactivity” fee! The service center informed me the fee was because I hadn’t used the Bill-Pay service for 90 days. Really??? The above is a snapshot of one week of headaches and frustrations endured from FMFCU trying to get MY OWN money, however, it is representative of every contact I’ve had with them over the last 7 or so years. Run, don’t walk, to any other bank/credit union other than FMFCU. You’ll save money and your sanity!



Health Grade Components

NCUA #20042
Year Chartered1970
Primary Regulator
Profit Margin
Return on Assets - YTD0.78%
Return on Equity - YTD10.56%
Annual Interest Income$11.4MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$1.52B$1.27B
LoansQ1 2021vs Q1 2020$1.05B$963.7MM
DepositsQ1 2021vs Q1 2020$1.37B$1.13B
Equity CapitalQ1 2021vs Q1 2020$109.2MM$102.2MM
Loan Loss AllowanceQ1 2021vs Q1 2020$11.6MM$8.8MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$6.0MM$7.1MM
Real Estate OwnedQ1 2021vs Q1 2020$320.00K$491.00K

Rates for Franklin Mint Federal Credit Union (FMFCU) are currently being reviewed.



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