Freedom First

Overview / Commentary
5240 Valleypark Dr
Roanoke, VA 24019-3002

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

Reviews (5)

Love banking local!

Posted by: |

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


Health Grade Components

NCUA #11111
Year Chartered1956
Primary Regulator
Profit Margin
Return on Assets - YTD0.8%
Return on Equity - YTD9.95%
Annual Interest Income$27.3MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$886.9MM$743.4MM
LoansQ4 2021vs Q4 2020$682.7MM$563.5MM
DepositsQ4 2021vs Q4 2020$753.2MM$590.5MM
Equity CapitalQ4 2021vs Q4 2020$70.1MM$63.9MM
Secondary CapitalQ4 2021vs Q4 2020$6.2MM
Loan Loss AllowanceQ4 2021vs Q4 2020$6.2MM$5.6MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$2.5MM$2.2MM
Real Estate OwnedQ4 2021vs Q4 2020$30.00K$126.00K
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Always verify rates and promotions with the bank or credit union. We are not Freedom First; we are a rate comparison website and cannot provide official rates or promotions.

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

Freedom First Savings Account Rates

0.01%$200-Regular Shares
0.01%$200-Vacation Clubs
0.01%$200-Christmas Clubs
0.01%$50-Little Gobbler Clubs
0.01%$200-Life Savings Shares
0.01%$200-IRA Account
0.01%$200-Secondary Shares
0.01%$200-Trust Accounts
0.01%$200-Insurance Shares
0.01%$200-Business Savings

Freedom First Money Market Rates

0.83%*$240k*-Indexed Business Money Markets
OTHER TIERS: 0.48% Up to $65k | 0.68% $65k - $240k
0.83%*$240k*-Private Reserve Money Market Account
OTHER TIERS: 0.35% Up to $65k | 0.68% $65k - $240k
0.03%*$50k*-Money Market Account
OTHER TIERS: 0.01% $5k - $50k
0.03%*$50k*-Former Business Money Markets
OTHER TIERS: 0.01% $1k - $50k

Freedom First Checking Account Rates

5.00%*-$10kFreedom Stash Checking (Monthly DD of 5k+)
OTHER TIERS: 0.30% $10k - $1m
0.50%*-$10kFreedom Stash Checking (Monthly DD of 1k+)
OTHER TIERS: 0.18% $10k - $1m

Freedom First CD Rates

0.90%$500-60 Month Share Certificate
0.90%$500-Business 60 Month Share Certificate
0.70%$500-48 Month Share Certificate
0.70%$500-Business 48 Month Share Certificate
0.50%$500-36 Month Share Certificate
0.50%$500-Business 36 Month Share Certificate
0.40%$500-24 Month Share Certificate
0.40%$500-Business 24 Month Share Certificate
0.25%$500-12 Month Share Certificate
0.25%$500-Business 12 Month Share Certificate
0.15%$500-6 Month Share Certificate

Freedom First IRA Rates

0.90%$500-60 Month IRA Certificates
0.70%$500-48 Month IRA Certificates
0.50%$500-36 Month IRA Certificates
0.40%$500-24 Month IRA Certificates
0.25%$500-12 Month IRA Certificates
0.15%$500-6 Month IRA Certificates


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