Freedom Credit Union

Freedom Credit Union is headquartered in SPRINGFIELD and is the 18^st largest credit union in the state of Massachusetts. It is also the 409^th largest credit union in the nation. It was established in 1986 and as of September of 2011, it had grown to 88 employees and 26,815 members. Freedom Credit Union's money market rates are 14% higher than the national average, and it boasts a 5-star health rating.

Freedom Credit Union Checking Account Rates

Freedom Credit Union Savings Account Rates

Freedom Credit Union Money Market Rates

Freedom Credit Union CD Rates

Freedom Credit Union IRA Rates

Data for Q3 2011

Institution Statistics FREEDOM NCUA # 66824 BankRate Report View Year Established 1986 Employees 88 Primary Regulator Assets and Liabilities Assets $470.74 million Loans $264.37 million Deposits $393.31 million Equity Capital $64.01 million Loan Loss Allowance $1.50 million Unbacked Noncurrent Loans $5.58 million Real Estate Owned $193,000 Historic Data - September 2010 Assets $449.52 million Equity Capital $60.25 million Loan Loss Allowance $1.18 million Unbacked Noncurrent Loans $3.59 million Profit Margin - Quarterly Net Interest Margin 3.85% Return on Assets 0.7% Return on Equity 5.11% Interest Income $13.21 million Non-Interest Income $2.44 million

Institution Health Overall Score: 5 out of 5 Texas Ratio The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Freedom Credit Union had $5.77 million in non-current loans and owned real-estate with $65.5 million in equity and loan loss allowances on hand to cover it. This gives Freedom Credit Union a Texas Ratio of 8.81% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Freedom Credit Union held steady from 5.85% as of September 30, 2010 to 8.81% as of September 30, 2011, resulting in a negative change of 50.59%. This indicates that the balance sheet and financial strength for Freedom Credit Union has held steady in recent periods. Deposit Growth In the past year, Freedom Credit Union has increased its total deposits by $28 million, resulting in 7.66% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Freedom Credit Union has shown is excellent. Capitalization Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Freedom Credit Union has $470.74 million in assets with $65.5 million in equity, resulting in a capitalization level of 13.91%, which is excellent.

No reviews have been left for this bank yet. Be the first to review.