Franklin-Somerset Federal Credit Union is headquartered in MADISON and is the 29th largest credit union in the state of Maine. It is also the 1,606th largest credit union in the nation. It was established in 1962 and as of September of 2022, it had grown to 28 employees and 10,378 members at 6 locations. Franklin-Somerset Federal Credit Union's money market rates are 2X the national average, and it has an A health rating.
Membership is open to those who live or work in Franklin or Somerset Counties.
See current membership details
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.
Overall | |
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NCUA # | 15159 |
Year Chartered | 1962 |
Employees | 28 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.45% |
Return on Equity - YTD | 4.1% |
Annual Interest Income | $2.7MM |
Assets and Liabilities | ||
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Assets | Q3 2022vs Q3 2021 | $130.5MM$120.7MM |
Loans | Q3 2022vs Q3 2021 | $56.2MM$53.3MM |
Deposits | Q3 2022vs Q3 2021 | $115.2MM$106.3MM |
Equity Capital | Q3 2022vs Q3 2021 | $14.2MM$13.7MM |
Loan Loss Allowance | Q3 2022vs Q3 2021 | $378.00K$491.00K |
Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $520.00K$479.00K |
Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
2.28% | $500 | - | 84 Month CD | |
2.12% | $500 | - | 60 Month CD | |
1.92% | $500 | - | 36 Month CD | |
1.76% | $500 | - | 24 Month CD | |
1.56% | $500 | - | 18 Month CD | |
1.46% | $500 | - | 12 Month CD | |
1.26% | $500 | - | 6 Month CD |
Franklin-Somerset Federal Credit Union Locations | ||
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Branch Office | 485 WILTON RD | FARMINGTON, ME 04938 |
Branch Office | 26 LEAVITT ST | SKOWHEGAN, ME 04976 |
Branch Office | 476 MAIN ST | KINGFIELD, ME 04947 |
Branch Office | 20 MAIN ST | MADISON, ME 04950 |
Corporate Office | 114 E MADISON RD | MADISON, ME 04950-3027 |
Branch Office | 104 MAIN STREET | STRATTON, ME 04982 |