Franklin Mint Federal Credit Union (FMFCU)
Franklin Mint Federal Credit Union (FMFCU) is headquartered in Chadds Ford and is the 7th largest credit union in the state of Pennsylvania. It is also the 259th largest credit union in the nation. It was established in 1970 and as of June of 2022, it had grown to 324 employees and 135,386 members at 16 locations. Franklin Mint Federal Credit Union (FMFCU)'s savings rates are 92% higher than the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Franklin Mint Federal Credit Union is open to those who live, work, worship, volunteer, attend school, or regularly conduct business, along with businesses and organizations, in specific areas of Pennsylvania and Delaware: portions of Philadelphia, Delaware and New Castle Counties, the Borough of West Chester, or Norristown. Immediate family member of a current FMFCU member or an eligible individual also qualify for membership, as are members of the FMFCU Foundation.
See current membership details
A local gem
I have been a member since moving to my area in 1991, and would bank no where else. Since that time, I have purchased numerous cars and three homes; each time the loan/mortgage experience has been very easy. Fees are very reasonable or absent altogether. Employee retention seems very high at the credit union, and I like the fact that I know them and they know me when I bank at the credit union. There are several convenient locations (some of which are open on the weekend) throughout the county. I live in Media, PA ("Everybody's Hometown") and feel that banking at the credit union is part of that hometown experience.
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
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.
Disgusted. 20 Year Member. I'm Done.
Don't even start with this unethical organization. Best of DelCo must mean there's nothing else to choose. If they have to pull .50 from your savings IN THEIR BANK, ATTACHED TO YOUR CHECKING ACCOUNT to cover a payment, they'll charge you $5. Even though a computer does it. Even if you've been a member for 20 years. Even if you have overdraft protection. Even if you've got tens of thousands in the accounts. It's straight up robbery. Go to a bank that's living in 2022, where banks aren't charging fees for that anymore. This is the bank of 1990. #CostOfLivingCrisis #Banks
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 20042 |
| Year Chartered | 1970 |
| Employees | 324 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.69% |
| Return on Equity - YTD | 12.85% |
| Annual Interest Income | $26.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $1.73B$1.55B |
| Loans | Q2 2022vs Q2 2021 | $1.35B$1.08B |
| Deposits | Q2 2022vs Q2 2021 | $1.50B$1.39B |
| Equity Capital | Q2 2022vs Q2 2021 | $90.7MM$112.2MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $12.0MM$11.7MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $4.5MM$4.7MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$602.00K |
