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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): December 4, 2008  </B>

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<P align="center" style="font-size: 20pt"><B>FRANKLIN FINANCIAL SERVICES CORPORATION<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD style="border-bottom: 1px solid #000000"><B>Pennsylvania</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>0-12126</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>25-1440803</B></TD>
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<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>20 South Main Street, Chambersburg, PA<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>17201</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(717) 264-6116</B>


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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

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<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="left" style="font-size: 10pt"><B>Item&nbsp;8.01 </B><U><B>Other Events</B></U>.


<P align="left" style="font-size: 10pt; text-indent: 4%">The news release of Franklin Financial Services Corporation, dated December&nbsp;4, 2008 and attached as Exhibit&nbsp;99.1,
announces its decision not to participate in the Troubled Asset Relief Program and its decision to participate in the
Transaction Account Guarantee program, and is incorporated by reference herein.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 </B><U><B>Financial Statements and Exhibits</B></U><B>.</B>


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    <TD width="3%" nowrap align="left">(c)</TD>
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    <TD>Exhibits.</TD>
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<P align="left" style="font-size: 10pt; text-indent: 4%">The following exhibits are filed herewith:

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99 .1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release, dated December&nbsp;4, 2008 of Franklin Financial Services Corporation</TD>
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<P align="center" style="font-size: 10pt"><U>SIGNATURES</U>



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.



<P align="left" style="margin-left:46%; font-size: 10pt">FRANKLIN FINANCIAL SERVICES CORPORATION



<P align="left" style="margin-left:46%; font-size: 10pt">By: <U><B>/</B>s/ William E. Snell, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
William E. Snell, Jr., President and Chief Executive Officer<BR>


<P align="left" style="font-size: 10pt">Dated: December&nbsp;4, 2008

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<P align="center" style="font-size: 10pt; display: none">2
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Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 4, 2008
FRANKLIN FINANCIAL SERVICES CORPORATION
(Exact name of registrant as specified in its charter)
Pennsylvania
0-12126
25-1440803
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
20 South Main Street, Chambersburg, PA
17201
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(717) 264-6116
N/A
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01
Other Events
.
The news release of Franklin Financial Services Corporation, dated December 4, 2008 and attached as Exhibit 99.1,
announces its decision not to participate in the Troubled Asset Relief Program and its decision to participate in the
Transaction Account Guarantee program, and is incorporated by reference herein.
Item 9.01
Financial Statements and Exhibits
.
(c)
Exhibits.
The following exhibits are filed herewith:
Number
Description
99 .1
Press Release, dated December 4, 2008 of Franklin Financial Services Corporation
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
FRANKLIN FINANCIAL SERVICES CORPORATION
By:
/
s/ William E. Snell, Jr.
William E. Snell, Jr., President and Chief Executive Officer
Dated: December 4, 2008