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Freedom Credit Union

Overview
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Freedom Credit Union is a federally insured state credit union based in Springfield, Massachusetts. It has been opened since 1986, for 34 years.

With around $477,580,000 in assets, Freedom Credit Union is considered to be a very large credit union. It has 11 branches and 12 ATM locations.

About
Address Po Box 3009
Springfield, Massachusetts 01101
Website http://www.freedom.coop
Phone (413) 739-6961
Fax (413) 750-5770
CEO Glenn S. Welch
President of the Board Donald Emerson
Services Offered
Map
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Score Card
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34 years
Years in business
Opened in 1986
Well Capitalized
Net worth classification
Source: NCUA
28,422 members
Membership type: State chartered natural person credit union
Above average number of members
268:1
Credit union member to staff ratio
268 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
$477,578,498
Total assets
Above average
11 branches
Compared with an average of 4 nationally and 3 in Massachusetts
Above average number of branches
0.05%
Savings interest rate
Compared to 0.3% nationally
Branches
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11 branches
Compared with an average of 4 nationally and 3 in Massachusetts
Above average number of branches
Freedom Credit Union Branch Locations

Freedom Credit Union: Easthampton
422B Main Street
Easthampton, Massachusetts 01027
ATM Available
Freedom Credit Union: Northampton
226 King Street
Northampton, Massachusetts 01060
ATM Available
Freedom Credit Union: Chicopee
1976 Memorial Drive
Chicopee, Massachusetts 01020
ATM Available
Freedom Credit Union: Greenfield
74 Main Street
Greenfield, Massachusetts 01301
ATM Available
Freedom Credit Union: Feeding Hills
959 Springfield Street
Feeding Hills, Massachusetts 01030
ATM Available
Freedom Credit Union: Springfield-Main Office
1976 Main Street
Springfield, Massachusetts 01103
ATM Available
Freedom Credit Union: Cooley Street
296 Cooley Street
Springfield, Massachusetts 01128
ATM Available
Freedom Credit Union: Ludlow
645 Center Street
Ludlow, Massachusetts 01056
ATM Available
Freedom Credit Union: Turners Avenue A.
191 Avenue A.
Turners Falls, Massachusetts 01376
ATM Available
Freedom Credit Union: Putnam
1300 State Street
Springfield, Massachusetts 01109
ATM Available
Members
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28,422 members
Membership type: State chartered natural person credit union
Above average number of members

With 28,422 members, the Freedom Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 86% of credit unions.

Fees
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$81
Average fee per member
The average fee per member at the Freedom Credit Union is $81, which is high compared to most credit unions. This rate is higher than 74% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Freedom Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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268:1
Credit union member to staff ratio
268 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
106 staff members
FTE (full-time equivalent)
12% of employees are part-time
99 full-time, 14 part-time

Freedom Credit Union has 99 full-time staff members and 14 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 88% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Freedom Credit Union has around 268 members per staff, a very low ratio compared to other credit unions. This is a very well staffed credit union.

Assets
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$477,578,498
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
16.8%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$49,417
Average loan and lease size
Loan & lease sizes are big! They are bigger than at 99% of credit unions.

Freedom Credit Union holds a total of $347,450,000 in loans and leases, which is about $49,417 per member on average.

Savings interest rate
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0.05%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Freedom Credit Union pays 0.05%.

Loan rates
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12.25%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.05%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.00%
New car loan rate
Compared to 4.0% nationally
3.00%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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1.95%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
3.50%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally