Freedom Credit Union (PA) is headquartered in Warminster and is the 11th largest credit union in the state of Pennsylvania. It is also the 375th largest credit union in the nation. It was established in 1934 and as of December of 2021, it had grown to 89 employees and 68,010 members at 4 locations. Freedom Credit Union (PA)'s CD rates are 18% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Freedom Credit Union is open to any qualified individual that meets the membership criteria for the American Consumer Council and lives in the states of Pennsylvania, New Jersey, Washington D.C., Maryland, Virginia, West Virginia, or Delaware. ($8 membership fee). Membership is also open to the following: 1) those who live, work, attend school, volunteer or worship in Philadelphia, Montgomery, Delaware, Chester, or Bucks Counties in Pennsylvania; 2) employees and students of Community College of Philadelphia and more than 290 area Select Employer Groups also qualify. (A complete list of groups is posted on the credit union's website)
See current membership details
Related Posts
2/6 - Freedom Credit Union Offers Competitive 36- And 30-Month CDs
2/4 - Freedom CU (PA): 30-Mo. CD: 1.30%; 36-Mo. CD: 1.50%
2/14 - 18 Month CD At 3.5% APY
1/17 - Freedom Credit Union Offers 24-Month CD, 3.05% APY
8/6/18 - Freedom Credit Union Adds 30-Month CD
2/5/18 - Freedom Credit Union Adds 36-Month Special CD
2/3/18 - Freedom CU CD Special - 36-Month @ 3.04% APY
1/5/12 - Top Long-Term CD Rates at Freedom Credit Union in PA - Local Only
1/26/08 - 5.15% 60-Month / 5.00% 36-Month CD at a Pennsylvania CU (Freedom).
10/3/07 - 5.50% 24-Month / 5.35% 12-Month at a Utah CU (Freedom)
I Had A TERRIFIC Experience
This is what I did
I joined Consumer Council, received the membership certificate in an email in two days, I scanned it. That same day I opened a $5 basic savings.
On Day three I made contact with natalie (215-613-0932) she handled the ach transfer (free to me) Day four: the cd already showed up pending completion. Day 5 Re-checked.... my bank had sent the funds and later that day the funds were in my 3.56 % 30 month cd. I am happy!
Persistence Pays Off
I opened the promo 30 mos CD paying 3.56% APY. It took some doing, numerous phone calls, simply because the staff was inundated with new account openings given the very attractive rate. I eventually got in touch with the right person and the ACH info was taken and transfers are underway. Online the accounts show as open pending funding.
I would say overall, for a relatively small institution, they have a good website, competent staff and they exhibited strong customer relations. For their size I'm giving them an "A".
Freedom Summary
This institution is always there to help from the people in the branch and even over the phone with their telephone teller. This allows you to do many transactions over the phone without having to go to a branch in person. Also, this institution has great rates on different deposit products and that is a main reason I am still with the credit union. Overall, I am very satisfied with the organization and I would and do recommend people to this organization. The only downside to the company is that they do not have many branches. This hinders your ability to go to them if you are in need of help, however, that is where the telephone teller comes into play and saves the reputation. The company also has a very user friendly app that makes mobile banking easy and fun. This is extremely helpful because I am around my phone more often than I am around a computer or even a branch itself.
Terrible Customer Service For Existing Customers
I have been a customer for over 4 years, never late, never missed a car payment. Needed a small loan, got denied because I am on social security.
Data as of Q4 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 60275 |
| Year Chartered | 1934 |
| Employees | 89 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.11% |
| Return on Equity - YTD | 9.44% |
| Annual Interest Income | $31.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $1.10B$1.11B |
| Loans | Q4 2021vs Q4 2020 | $584.3MM$664.1MM |
| Deposits | Q4 2021vs Q4 2020 | $966.6MM$985.0MM |
| Equity Capital | Q4 2021vs Q4 2020 | $131.3MM$119.4MM |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $10.2MM$10.6MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $4.1MM$4.4MM |
| Real Estate Owned | Q4 2021vs Q4 2020 | $0$0 |