Freedom Credit Union

Overview / Commentary

413-739-6961

1976 Main St
Springfield, MA 01103

Freedom Credit Union is headquartered in SPRINGFIELD and is the 18^th largest credit union in the state of Massachusetts. It is also the 571^st largest credit union in the nation. It was established in 1986 and as of June of 2024, it had grown to 98 employees and 32,002 members at 9 locations. Freedom Credit Union's CD rates are 94% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Freedom Credit Union is open to those who live, work, or attend school in the Massachusetts counties of Berkshire, Franklin, Hampden, or Hampshire, or the Connecticut counties of Hartford or Tolland. Eligibility also extends to family members of current credit union members.
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Health

Data as of Q2 2024

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Health Grade Components

Overall
NCUA #	66824
Year Chartered	1986
Employees	98
Primary Regulator

Profit Margin
Return on Assets - YTD	0.19%
Return on Equity - YTD	1.59%
Annual Interest Income	$14.9MM

Assets and Liabilities
Assets	Q2 2024vs Q2 2023	$740.1MM$724.6MM
Loans	Q2 2024vs Q2 2023	$555.6MM$534.7MM
Deposits	Q2 2024vs Q2 2023	$572.7MM$549MM
Equity Capital	Q2 2024vs Q2 2023	$87.1MM$83.3MM
Loan Loss Allowance	Q2 2024vs Q2 2023	$2.4MM$3MM
Unbacked Noncurrent Loans	Q2 2024vs Q2 2023	$4.1MM$2.6MM
Real Estate Owned	Q2 2024vs Q2 2023	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Freedom Credit Union Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.15%	$5	-	IRA Savings Account
0.05%	$5	-	Vacation Club Accounts
0.05%	$5	-	Share (Savings Account)
0.05%	$5	-	Holiday Club
0.05%	$0	-	Business Savings Account

Freedom Credit Union Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.35%^*	$75k^*	-	Money Market Account
OTHER TIERS: 0.20% → $5 - $25k \| 0.25% → $25k - $50k \| 0.30% → $50k - $75k
0.35%^*	$100k^*	-	Business Money Market
OTHER TIERS: 0.20% → $5 - $10k \| 0.25% → $10k - $50k \| 0.30% → $50k - $100k

Freedom Credit Union Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.35%^*	$75k^*	-	Business Dividend Checking
OTHER TIERS: 0.20% → $5 - $25k \| 0.25% → $25k - $50k \| 0.30% → $50k - $75k
0.05%	$0	-	Advantage Checking
0.05%	$0	-	Essential Checking

Freedom Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
4.00%	$500	-	13 Month CD Special
3.50%	$500	-	7 Month CD Special
2.75%	$500	-	60 Month CD
2.50%	$500	-	48 Month CD
2.25%	$500	-	36 Month CD
2.13%	$500	-	24 Month CD
2.00%	$500	-	18 Month CD
1.75%	$500	-	12 Month CD
1.50%	$500	-	6 Month CD
1.00%	$500	-	9 Month CD

Freedom Credit Union IRA Rates

APY	MIN	MAX	ACCOUNT NAME
4.00%	$500	-	13 Month IRA Special
3.50%	$500	-	7 Month IRA Special
2.75%	$500	-	60 Month IRA
2.50%	$500	-	48 Month IRA
2.25%	$500	-	36 Month IRA
2.13%	$500	-	24 Month IRA
2.00%	$500	-	18 Month IRA
1.75%	$500	-	12 Month IRA
1.50%	$500	-	6 Month IRA
1.00%	$500	-	9 Month IRA

Locations

Freedom Credit Union Locations
Branch Office	296 COOLEY ST	SPRINGFIELD, MA 01128-1145
Branch Office	645 CENTER ST	LUDLOW, MA 01056
Branch Office	226 KING ST	NORTHAMPTON, MA 01060
Branch Office	959 SPRINGFIELD ST	FEEDING HILLS, MA 01030
Branch Office	1976 MAIN ST	SPRINGFIELD, MA 01103-1010
Branch Office	1976 MEMORIAL DR	CHICOPEE, MA 01020
Branch Office	74 MAIN ST	GREENFIELD, MA 01301
Branch Office	191 AVENUE A	TURNERS FALLS, MA 01376
Branch Office	58 Union St	West Springfield, MA 01089

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