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.
Name: | FREEDOM FIRST FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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