About Us
History of Franklin-Somerset Federal Credit Union Charter #15159
Franklin-Somerset Federal Credit Union’s humble beginnings began as Bass Shoe Federal Credit Union with 8 members – six women and two men, each with a share of $5.00, on August 6, 1962. Since then, our charter has changed a bit and our field of membership grown. In the seventies, Bass Shoe Federal Credit Union became Wilton Community, then Franklin County Federal Credit Union. The eighties saw Bennett Importing FCU and Mt. Blue FCU merging with Franklin County Federal Credit Union, and a new branch built in Kingfield. Skowhegan Community FCU merged with Franklin County in 2000, and Madison-Anson followed in 2002, for our present day field of membership to include all of Franklin and Somerset Counties. Our current branch locations are Farmington, Kingfield, Stratton, Skowhegan, and Madison – and we have an Operations Center in Madison as well. We now have over 10,700 members in our credit union family!
Franklin-Somerset Federal Credit Union is governed by an unpaid, volunteer Board of Directors elected from and by the credit union's membership; and overseen by a Supervisory Committee, a volunteer committee appointed by the Board of Directors. We are looking for interested members to serve either on the Board of Directors or Supervisory Committee.
Duties for the Board include: setting policy; planning the credit union's course; ensuring it maintains its sound financial condition; reporting to the members at the annual meeting.
Duties for the Supervisory Committee include: monitoring all processes at the credit union and ensuring compliance with policies and procedures.
Both the Board and Supervisory Committee usually meet once a month to review the status of the credit union. If you are interested in serving as a volunteer Board or Supervisory Committee member, please contact Beverly Knapp at bevk@f-sfcu.com or call 207-612-5436 for more information.