EXHIBIT 5.1

                               _____________, 2004

Board of Directors
Kentucky First Federal Bancorp, Inc.
479 Main Street
Hazard, Kentucky 41702

         Re:   Registration Statement on Form S-1

Gentlemen:

      We have acted as special counsel for Kentucky First Federal Bancorp, Inc.,
a federal corporation (the "Company"), in connection with the registration
statement on Form S-1 (the "Registration Statement") initially filed on
September 16, 2004, by the Company with the Securities and Exchange Commission
under the Securities Act of 1933, as amended (the "Act"), and the regulations
promulgated thereunder.

      The Registration Statement relates to the proposed issuance by the Company
of (i) up to ____________ shares ("Offered Shares") of common stock, $.01 par
value per share, of the Company ("Common Stock") in a subscription offering, a
community offering and a syndicated community offering (the "Offerings")
pursuant to the Stock Issuance Plan of First Federal Savings and Loan
Association, Hazard, Kentucky, as adopted on July 14, 2004 (the "Stock Issuance
Plan") and (ii) up to _________ shares ("Merger Shares") of Common Stock to the
shareholders of Frankfort First Bancorp, Inc. ("Frankfort First"), a Delaware
corporation, pursuant to the Agreement of Merger, by and between First Federal
Savings and Loan Association and Frankfort First Bancorp, Inc., dated as of July
15, 2004 (the "Merger Agreement") pursuant to which Frankfort First will be
merged with a wholly owned merger subsidiary of Kentucky First (the "Merger").

      In the preparation of this opinion, we have examined originals or copies
furnished to us: (i) the Company's charter (the "Charter"); (ii) the Company's
Bylaws; (iii) the Registration Statement, including the proxy statement and
prospectus contained therein and the exhibits thereto; (iv) certain resolutions
of the Board of Directors of the Company relating to the issuance of the Common
Stock being registered under the Registration Statement; (v) the Stock Issuance
Plan; (vi) the Merger Agreement; (vii) the trust



Board of Directors
Kentucky First Federal Bancorp, Inc.
________, 2004
Page 2

agreement for First Federal Savings and Loan Association's employee stock
ownership plan ("ESOP") and the form of loan agreement between the Company and
the ESOP; and (viii) the form of stock certificate approved by the Board of
Directors of the Company to represent shares of Common Stock. We have also
examined originals or copies of such documents, corporate records, certificates
of public officials and other instruments, and have conducted such other
investigations of law and fact, as we have deemed necessary or advisable for
purposes of our opinion.

      In our examination, we have assumed, without verification, the genuineness
of all signatures, the authenticity of all documents and instruments submitted
to us as originals, the conformity to the originals of all documents and
instruments submitted to us as certified or conformed copies, the correctness of
all certificates, and the accuracy and completeness of all records, documents,
instruments and materials made available to us by the Company.

      Our opinion is limited to the matters set forth herein, and we express no
opinion other than as expressly set forth herein. In rendering the opinion set
forth below, we do not express any opinion concerning law other than the federal
laws of the United States of America. Our opinion is expressed as of the date
hereof and is based on laws currently in effect. Accordingly, the conclusions
set forth in this opinion are subject to change in the event that any laws
should change or be enacted in the future. We are under no obligation to update
this opinion or to otherwise communicate with you in the event of any such
change.


      For purposes of this opinion, we have assumed that, prior to the issuance
of any shares, the Registration Statement, as finally amended, will have become
effective under the Act, and that the Merger will have become effective.


      Based upon and subject to the foregoing, it is our opinion that:

      (1)   the Offered Shares, when issued and sold in the manner described in
            the Registration Statement, will be duly authorized, validly issued,
            fully paid and nonassessable; and

      (2)   when issued in accordance with the terms of the Merger Agreement
            upon consummation of the Merger contemplated therein, the Merger
            Shares will be duly authorized, validly issued, fully paid and
            nonassessable.



Board of Directors
Kentucky First Federal Bancorp, Inc.
________, 2004
Page 3

      We consent to the filing of this opinion as an exhibit to the Registration
Statement and to the Company's Applications on Forms MHC-1 and MHC-2 to the
Office of Thrift Supervision (the "OTS Application"), and to the reference to
our firm under the heading "Legal and Tax Opinions" in the prospectus which is
part of such registration statement, as such may be amended or supplemented, or
incorporated by reference in any Registration Statement covering additional
shares of Common Stock to be issued or sold under the Stock Issuance Plan that
is filed pursuant to Rule 462(b) under the Act, and to the reference to our firm
in the OTS Application. In giving such consent, we do not admit that we are
experts or are otherwise within the category of persons whose consent is
required under Section 7 of the Act or the rules or regulations of the
Securities and Exchange Commission thereunder.

                                        Very truly yours,

                                        MULDOON MURPHY FAUCETTE & AGUGGIA LLP