Featured Savings Rates
Featured Accounts

Franklin-Somerset Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.25%5-year CD60 Month CD
0.35%1-year CD12 Month CD
0.20%SavingsShare (Savings)

Overview / Commentary
207-474-3331
26 Leavitt St
Skowhegan, ME 04976

Franklin-Somerset Federal Credit Union is headquartered in SKOWHEGAN and is the 31st largest credit union in the state of Maine. It is also the 1,709th largest credit union in the nation. It was established in 1962 and as of June of 2017, it had grown to 27 employees and 10,658 members at 4 locations. Franklin-Somerset Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is open to those who live or work in Franklin or Somerset Counties.
See current membership details

Reviews (1)

Nice, local credit union

I am no longer a member of this credit union, having recently moved from Central Maine, but I lived in Farmington, ME, for several years, during which time I was a member of FSFCU. They had few branches (four, I believe), but this was not out of the ordinary for financial institutions in the area. My checking and savings accounts were nothing extraordinary, other than the fact that there were fewer fees than there are with many commercial banks. The savings interest rate was nothing to write home about, being in line with other savings products according to comparison tools like bankrate.com. From a customer service perspective, I never had any problems, though the customer service was never more outgoing than simply professional, though this probably had less to do with the credit union itself and more to do with the fact that I was "from away" and therefore treated with a certain degree of distance in any and all professional and personal interactions. The website was functional, but not anything special. I could check my balance without incident, but it didn't allow me to do many transactions that most banks seem to allow. There wasn't a mobile product that I was aware of, beyond checking the website in a phone's web browser. All in all, I don't have any serious complaints, but nothing overwhelmingly positive, either.



Health
B+
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Franklin-Somerset Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #15159
Year Chartered1962
Employees27
Primary Regulator
Profit Margin
Return on Assets - YTD1.02%
Return on Equity - YTD8.58%
Annual Interest Income$1.7MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$89.6MM$84.5MM
LoansQ2 2017vs Q2 2016$57.1MM$55.9MM
DepositsQ2 2017vs Q2 2016$78.3MM$74.6MM
Equity CapitalQ2 2017vs Q2 2016$10.6MM$9.6MM
Loan Loss AllowanceQ2 2017vs Q2 2016$271.00K$232.00K
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$933.00K$577.00K
Real Estate OwnedQ2 2017vs Q2 2016$30.00K$60.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Franklin-Somerset Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%--IRA Club
0.30%--Education IRA Club
0.30%--Roth IRA Club
0.20%*$2k*-Share (Savings)
OTHER TIERS: 0.15% $100 - $2k
0.20%*$2k*-Youth Share Savings
OTHER TIERS: 0.15% Up to $2k
0.15%--Christmas Club Savings
0.15%--All Purpose Club

Franklin-Somerset Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$100k*-Money Market Share
OTHER TIERS: 0.20% $1,500 - $100k
0.05%$1,500-Money Market Share Draft

Franklin-Somerset Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%$500-84 Month CD
1.25%$500-60 Month CD
0.75%$500-36 Month CD
0.55%$500-24 Month CD
0.45%$500-18 Month CD
0.35%$500-12 Month CD
0.30%$500-6 Month CD

Franklin-Somerset Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%$500-84 Month IRA
1.50%--7 Year Roth IRA
1.25%$500-60 Month IRA
1.25%--5 Year Roth IRA
0.75%$500-36 Month IRA
0.75%--3 Year Education IRA
0.75%--3 Year Roth IRA
0.55%$500-24 Month IRA
0.55%--2 Year Roth IRA
0.45%$500-18 Month IRA
0.35%$500-12 Month IRA
0.35%--1 Year Education IRA
0.35%--1 Year Roth IRA
0.30%$500-6 Month IRA
Locations


Franklin-Somerset Federal Credit Union Locations
Branch Office485 WILTON RDFARMINGTON, ME 04938
Branch Office26 LEAVITT STSKOWHEGAN, ME 04976
Branch Office476 MAIN STKINGFIELD, ME 04947
Branch Office20 MAIN STMADISON, ME 04950