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March 23, 2020

While we navigate these uncertain times together, we have prepared some answers to frequently asked questions to keep you informed during the COVID-19 outbreak. Rest assured, Franklin Savings Bank remains committed to assisting you with any questions or concerns you may have with your account.

Bank Operations / Deposit Insurance

  1. Is my money still insured if my bank has temporarily reduced branch access or is not open?
    During theCoronavirus (COVID-19) outbreak, some banks may need to temporarily limit operations to protect the health of their employees and customers. This may include closing a lobby, converting to drive-up only services, or encouraging customers to use ATMs or digital channels to access their accounts. Regardless of Franklin Savings Bank’s operating conditions, you can rest with the knowledge that your money is insured by the FDIC. Deposits with an FDIC-insured bank will continue to be protected up to at least $250,000. Please visit the FDIC website for additional information, or you may contact us at 1.800.372.4445 for assistance, or chat with us online by clicking the “Chat is Online” option.
  2. Will there be enough cash during the COVID-19 pandemic?
    The Federal Reserve System has and will continue to meet the currency needs of banking customers. There are sufficient resources available to handle customer needs. Please keep in mind that the safest place for your money is with a bank.  Franklin Savings Bank will continue to ensure that our customers have access to funds either directly or electronically.
  3. Is there anyone I can speak with if I have questions about my FDIC deposit insurance coverage?
    Yes. The FDIC has a team of subject matter experts available to answer questions. You may contact them by calling 1.877.ASK.FDIC, Monday – Friday, between 8:30am – 5:00pm, to speak with a Deposit Insurance Subject Matter Expert. Or you may contact us at 1.800.372.4445 for assistance, or chat with us online by clicking the “Chat is Online” option.
  4. I have deposits at a bank that I think may exceed the FDIC’s deposit insurance limits. What should I do?
    The FDIC has a number of deposit insurance resources to help you determine your deposit insurance coverage located at A key tool for determining deposit insurance coverage is the Electronic Deposit Insurance Estimator (EDIE), which is also available at In addition, the FDIC website has a wide range of other links that can help determine your deposit insurance coverage. As always, you may contact us at 1.800.372.4445 for additional assistance.

Access to Money

  1. I am concerned about being charged for ATM fees as I do not have access to my bank’s ATM network, but need cash due to COVID-19 related issues?
    We got your covered! Franklin Savings Bank’s customers have access to over 55,000 surcharge-free ATMs in the Allpoint Network at some of these retailers: Target, CVS, Walgreens and Speedway. To locate an Allpoint ATM near you, download the Allpoint App available in the Apple or Google Play stores.
  2. Our community is being encourage to use social distancing to help stop the spread of COVID-19. Franklin Savings Bank has temporarily closed its lobbies to protect their customers and employees, how can I continue to receive assistance with my banking?
    FSB’s drive-up locations remain open during normal business hours with the exception of our Tilton office, which is temporarily closed until further notice. Customers may also conduct banking transactions at our ATM locations (except Tilton), night drops, as well as through our remote banking services (online banking, mobile banking, or telephone banking). You may also contact us at 1.800.372.4445 for assistance, or chat with us online by clicking the “Chat is Online” option.

Credit Issues

  1. I am no longer working due to COVID-19 and do not have the income to meet my credit obligations. If I miss some loan payments, how will this affect my credit? Will I be charged late fees?
    During these unprecedented times, Franklin Savings Bank is working with our customers impacted by COVID-19 to assist them with their account(s). Please contact us at 1.800.372.4445 for assistance, or you may chat with us online by clicking on the “Chat is Online” option.

Protection Against Fraud or Scams

  1. How can I protect myself against fraud or scams during the COVID-19 outbreak?
    Now more than ever, keep in mind that individuals may take advantage of the COVID-19 outbreak by using fraudulent websites, phone calls, emails and text messages claiming to offer “help”- all in an effort to trick you into providing Social Security numbers, bank account numbers, and other personal information. Do not disclose your bank or credit card numbers or other personal information unless you initiated the conversation with the other party and you know it is a reputable organization. Be cautious of online and telephone solicitations as they may be imposters claiming to be government employees and volunteers seeking personal information or money. Lastly, refuse offers to cash a check for someone in exchange for a fee, even if the bank makes the funds available to you right away as the check may later be determined fraudulent.
  2. What steps can I take to prevent identity theft? What can I do if someone steals my identity?
    If you feel you have become a victim of identity theft, you may place a “fraud alert” on your credit file by contacting one of the three major credit bureaus:
    • Equifax: | 1.800.525.6285
    • Experian: | 1.888.397.3742
    • TransUnion: | 1.888.909.8872

You only need to notify one credit bureau. The one that processes your fraud alert will notify the other two credit bureaus on your behalf, who will also place fraud alerts in your file.

Placing a “fraud alert” on your credit file can help prevent new accounts in your name from being opened or changes to existing accounts from occurring.

FSB offers Identity Resolution Services through our partnership with CyberScout. This service is free to our Passkey customers as well as clients of Independence Financial Advisors. In addition, CyberScout is available to customers with an FSB checking, savings or money market account for as little as $15.00 per year.

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