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FREEDOM FIRST FEDERAL CREDIT UNION

Dec, 31, 2020 — FREEDOM FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in Roanoke, VA with 11 branch locations and about $743.42 million in total assets. Opened 65 years ago in 1956, FREEDOM FIRST FEDERAL CREDIT UNION has about 57,138 members and employs 189 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:57,138
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$743,421,987
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 76,907,134
TOTAL INVESTMENTS 48,507,450
Loans Held for Sale 4,876,532
 
 Real Estate Loans 369,858,050
 Unsecured Loans 33,849,248
 Other Loans 159,824,053
 TOTAL LOANS 563,531,351
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,612,790
 Land And Building 16,472,565
 Other Fixed Assets 1,101,744
 NCUSIF Deposit 5,015,613
 All Other Assets 32,622,388
  TOTAL ASSETS 743,421,987
LIABILITIES & CAPITAL:  
 Dividends Payable 246,251
 Notes & Interest Payable 73,125,000
 Accounts Payable & Other Liabilities 8,767,890
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 6,900,000
 Share Drafts 210,416,320
 Regular shares 166,782,542
 All Other Shares & Deposits 213,293,064
  TOTAL SHARES & DEPOSITS 590,491,926
  TOTAL LIABILITIES 679,531,067
 Regular Reserve 5,751,716
 Other Reserves 655,055
 Undivided Earnings 57,484,149
  TOTAL EQUITY 63,890,920
  TOTAL LIABILITIES, SHARES, & EQUITY 743,421,987
INCOME & EXPENSE  
 Loan Income 25,465,977
 Investment Income 885,382
 Other Income 13,905,808
 Total Employee Compensation & Benefits 16,080,796
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 10,575,395
 Non-operating Income & (Expense) -283,809
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,995,160
 Cost of Funds 5,239,980
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 5,082,027
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