Freedom First is headquartered in Roanoke and is the 17th largest credit union in the state of Virginia. It is also the 457th largest credit union in the nation. It was established in 1956 and as of December of 2021, it had grown to 219 employees and 59,592 members at 14 locations. Freedom First's money market rates are 89% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Freedom First offers membership to those who live, work, worship, attend school, or own a business in the Virginia counties of Botetourt, Craig, Franklin, Montgomery or Roanoke, or the Virginia cities of Radford, Roanoke, Salem, or Vinton.
See current membership details
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Love banking local!
When we moved to Virginia 11 years ago, we were looking for a local credit union to bank with. At the time this was our only option. Going into it, I didn't know if we would like this bank or not. I LOVE THIS BANK!!! This bank has always had the best customer service. About 4 years ago, I was a few days from leaving on vacation out of the state, and I got a call on a Saturday from the bank telling me that my card had some unauthorized use. I was extremely stressed out! They put a hold on my card, and I called the bank first thing monday morning. I explained that I really needed a card because I was about to leave on vacation. They had a new card waiting for me at the local branch the next morning! You cant get any better than that with service! Love them.
I love Freedom First!
I have been with Freedom First for about 12 years now. When we moved from out of state, we went and signed up for an account. At first I didnt know what to expect because I had never used a credit union prior. When I went in to open the account, I remember the staff being so gracious and even telling us some great things to do around the area. (We Moved from New york to Virginia so it was a change). Over time, I havent had any issues with them. Even when my debit card got hacked on a Saturday, they had a new debit card waiting for at the branch on monday to cause no delays to me. I would recommend them to anyone!
Great Credit Union And People!
They worked with me when I needed it. The Vinton, Va branch was great in helping me get my account straight as I am getting back on my feet. It's not always about money, sometimes it just takes people to listen and help when needed.
fee fees fees
Freedom first credit union used to be the Virginia tech banking service then it change about 10 years. Since the change there service has gone down hill. It was by fast the worst bank i have ever been with. We would have money in the bank and still get charged late fees. We had to go into the office about 6 times in a year to fix their mistakes. if we would knot have gone in the charges would have been left on the account. i can't image how many other people this must of happened to without them noticing. i would not recommend them to anyone.
Do Not Bank Here
Never bank here. Horrible experience. My debit card declined and left me walking for miles to get home with no gas and no resolve. Find a bank that won’t cut off your debit card every 5 seconds
Data as of Q4 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 11111 |
| Year Chartered | 1956 |
| Employees | 219 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.8% |
| Return on Equity - YTD | 9.95% |
| Annual Interest Income | $27.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $886.9MM$743.4MM |
| Loans | Q4 2021vs Q4 2020 | $682.7MM$563.5MM |
| Deposits | Q4 2021vs Q4 2020 | $753.2MM$590.5MM |
| Equity Capital | Q4 2021vs Q4 2020 | $70.1MM$63.9MM |
| Secondary Capital | Q4 2021vs Q4 2020 | $6.2MM |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $6.2MM$5.6MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $2.5MM$2.2MM |
| Real Estate Owned | Q4 2021vs Q4 2020 | $30.00K$126.00K |
