Jun, 30, 2024 — FREEDOM CREDIT UNION is a federally insured state chartered credit union headquartered in PROVO, UT with 2 branch locations and about $64.11 million in total assets. Opened 69 years ago in 1956, FREEDOM CREDIT UNION has about 4,009 members and employs 15 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 CREDIT UNION |
|---|---|
| Address: (Main Office) | 815 N Freedom Blvd PROVO, UT 84604-3315 |
| Phone: | (801) 375-2120 |
| Fax: | (801) 377-0435 |
| Website: | https://www.freedomcu.com/ |
| Branches: | 2 branch locations |
| Members: | 4,009 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67129 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Aug 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $64,109,037 |
| CEO/Manager: | Ken Payne |
| Chairperson: | Thomas L Crabb |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,557,241 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 22,380,521 |
| Unsecured Loans | 1,094,253 |
| Other Loans | 22,372,919 |
| TOTAL LOANS | 45,847,693 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -215,512 |
| Land And Building | 3,664,989 |
| Other Fixed Assets | 380,274 |
| NCUSIF Deposit | 521,240 |
| All Other Assets | 5,494 |
| TOTAL ASSETS | 64,109,037 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 33,541 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 648,638 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,312,933 |
| Regular shares | 25,091,008 |
| All Other Shares & Deposits | 22,079,286 |
| TOTAL SHARES & DEPOSITS | 57,483,227 |
| TOTAL LIABILITIES | 58,165,406 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 5,943,631 |
| TOTAL EQUITY | 5,943,631 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 64,109,037 |
| INCOME & EXPENSE | |
| Loan Income | 1,253,774 |
| Investment Income | 127,205 |
| Other Income | 91,710 |
| Total Employee Compensation & Benefits | 564,475 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 598,371 |
| Non-operating Income & (Expense) | 19,694 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,077 |
| Cost of Funds | 181,685 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 308,168 |
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