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Freedom of Maryland Credit Union

Overview
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Freedom of Maryland Credit Union is a federal credit union based in Bel Air, Maryland. It has been opened since 1953, for 67 years.

With around $306,030,000 in assets, Freedom of Maryland Credit Union is considered to be a very large credit union. It has 5 branches and 5 ATM locations.

About
Address 2019 Emmorton Road
Bel Air, Maryland 21015
Website http://www.freedomfcu.org
Phone (410) 676-5700
Fax (443) 512-8389
CEO Michael Macpherson
President of the Board Michael Kaiser
Services Offered
Map
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Score Card
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67 years
Years in business
Opened in 1953
Well Capitalized
Net worth classification
Source: NCUA
31,714 members
Membership type: Community credit union
Above average number of members
415:1
Credit union member to staff ratio
415 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$306,031,584
Total assets
Above average
5 branches
Compared with an average of 4 nationally and 3 in Maryland
Above average number of branches
0.15%
Savings interest rate
Compared to 0.3% nationally
8.99%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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5 branches
Compared with an average of 4 nationally and 3 in Maryland
Above average number of branches
Freedom of Maryland Credit Union Branch Locations

Freedom of Maryland Credit Union: Park Avenue
2019 Emmorton Road
Bel Air, Maryland 21015
ATM Available
Freedom of Maryland Credit Union: Forest Lakes
1990 Rock Spring Road
Forest Hill, Maryland 21050
ATM Available
Freedom of Maryland Credit Union: Edgewood
5002 Hoadley Road
Gunpowder, Maryland 21010
ATM Available
Freedom of Maryland Credit Union: Fountain Green
1304 E. Churchville Road
Bel Air, Maryland 21014
ATM Available
Freedom of Maryland Credit Union: Swan Creek
1830 Pulaski Highway Suite C.
Havre DE Grace, Maryland 21078
ATM Available
Members
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31,714 members
Membership type: Community credit union
Above average number of members

With 31,714 members, the Freedom of Maryland Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 87% of credit unions.

Fees
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$40
Average fee per member
The average fee per member at the Freedom of Maryland Credit Union is $40, which is comparable to most credit unions. This rate is lower than 57% of all credit unions.
Fees are 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 of Maryland Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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415:1
Credit union member to staff ratio
415 per each FTE employee
Compared to 411:1 nationally
Fewer staff
76 staff members
FTE (full-time equivalent)
1% of employees are part-time
76 full-time, 1 part-time

Freedom of Maryland Credit Union has 76 full-time staff members and 1 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 99% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Freedom of Maryland Credit Union has around 415 members per staff, a higher ratio compared to other credit unions.

Assets
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$306,031,584
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.
9.2%
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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$14,762
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 79% of credit unions.

Freedom of Maryland Credit Union holds a total of $264,660,000 in loans and leases, which is about $14,762 per member on average.

Savings interest rate
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0.15%
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 of Maryland Credit Union pays 0.15%.

Loan rates
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8.99%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
11.99%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.15%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.99%
New car loan rate
Compared to 4.0% nationally
2.24%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.50%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.75%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally