The club was founded in 1933 as TV Frankenhausen. They won the Saxony Championship in three consecutive years from 1940-1942. In 1946 they were re-founded as SG Frankenhausen. Now within the boundaries East Germany, the club won the Ostozonenmeisterschaft in 1949 and the 1950 DDR Winter Sports Hockey Championship. They were crowned East German champions both times. The club was renamed BSG Wismut Zwickau in 1954 and played in the DDR-Oberliga under this name for the 1954-55 season. SG Frankenhausen was again re-established in 1994. It is now purely a recreational/hobby team.