Sep, 30, 2025 — FREEDOM FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in ROANOKE, VA with 15 branch locations and about $1.18 billion in total assets. Opened 70 years ago in 1956, FREEDOM FIRST FEDERAL CREDIT UNION has about 62,965 members and employs 223 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 |
|---|---|
| Address: (Main Office) | 207 Bullitt Ave SE ROANOKE, VA 24013 |
| Phone: | (540) 389-0244 |
| Fax: | |
| Website: | https://www.freedomfirst.com |
| Branches: | 15 branch locations |
| Members: | 62,965 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11111 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,176,446,345 |
| CEO/Manager: | Paul Phillips |
| Chairperson: | David Lowen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 39,772,035 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,986,524 |
| Real Estate Loans | 792,468,437 |
| Unsecured Loans | 25,563,529 |
| Other Loans | 192,338,367 |
| TOTAL LOANS | 1,010,370,333 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,521,000 |
| Land And Building | 42,626,123 |
| Other Fixed Assets | 3,202,218 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 7,745,061 |
| All Other Assets | 39,977 |
| TOTAL ASSETS | 1,176,446,345 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 327,014 |
| Notes & Interest Payable | 52,250,000 |
| Accounts Payable & Other Liabilities | 14,192,810 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 33,000,000 |
| Share Drafts | 228,284,200 |
| Regular shares | 151,090,348 |
| All Other Shares & Deposits | 606,956,533 |
| TOTAL SHARES & DEPOSITS | 986,331,082 |
| TOTAL LIABILITIES | 1,086,101,906 |
| Regular Reserve | 0 |
| Other Reserves | -1,845,460 |
| Undivided Earnings | 92,189,899 |
| TOTAL EQUITY | 90,344,439 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,176,446,345 |
| INCOME & EXPENSE | |
| Loan Income | 42,365,223 |
| Investment Income | 1,862,276 |
| Other Income | 4,973,801 |
| Total Employee Compensation & Benefits | 17,556,205 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 14,105,056 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,501,705 |
| Cost of Funds | 18,867,868 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,140,818 |
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