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FREEDOM FIRST FEDERAL CREDIT UNION

Mar, 31, 2021 — FREEDOM FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in Roanoke, VA with 11 branch locations and about $788.84 million in total assets. Opened 65 years ago in 1956, FREEDOM FIRST FEDERAL CREDIT UNION has about 57,696 members and employs 190 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 251483023
Name:FREEDOM FIRST FEDERAL CREDIT UNION
Address:
(Main Office)
5240 Valleypark Drive
Roanoke, VA 24019
Phone:(866) 389-0244
Fax:
Website:http://www.freedomfirst.com
Branches:11 branch locations
Members:57,696
Credit Union Type:Federal Credit Union
Charter Number:11111
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1956
Last Audited:Mar 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$788,843,968
CEO/Manager:Paul Phillips
Chairperson:Brent G Cochran

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Individual Development Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 81,866,227
TOTAL INVESTMENTS 80,921,040
Loans Held for Sale 5,186,992
 
 Real Estate Loans 387,037,362
 Unsecured Loans 32,166,929
 Other Loans 157,615,470
 TOTAL LOANS 576,819,761
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,807,000
 Land And Building 16,532,367
 Other Fixed Assets 1,078,001
 NCUSIF Deposit 5,015,613
 All Other Assets 27,230,967
  TOTAL ASSETS 788,843,968
LIABILITIES & CAPITAL:  
 Dividends Payable 242,393
 Notes & Interest Payable 73,000,000
 Accounts Payable & Other Liabilities 8,345,329
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 6,700,000
 Share Drafts 229,447,357
 Regular shares 187,919,570
 All Other Shares & Deposits 217,298,128
  TOTAL SHARES & DEPOSITS 634,665,055
  TOTAL LIABILITIES 722,952,777
 Regular Reserve 5,751,716
 Other Reserves -14,827
 Undivided Earnings 60,154,302
  TOTAL EQUITY 65,891,191
  TOTAL LIABILITIES, SHARES, & EQUITY 788,843,968
INCOME & EXPENSE  
 Loan Income 6,381,022
 Investment Income 172,676
 Other Income 1,181,958
 Total Employee Compensation & Benefits 4,062,668
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,698,465
 Non-operating Income & (Expense) -1,375
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 265,431
 Cost of Funds 1,071,712
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,670,153
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