Dec, 31, 2023 — FREEDOM CREDIT UNION is a federally insured state chartered credit union headquartered in PROVO, UT with 2 branch locations and about $61.13 million in total assets. Opened 68 years ago in 1956, FREEDOM CREDIT UNION has about 4,077 members and employs 10 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: | 4,077 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $61,133,641 |
| CEO/Manager: | Ken Payne |
| Chairperson: | Thomas L Crabb |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,316,574 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 21,947,564 |
| Unsecured Loans | 1,205,062 |
| Other Loans | 23,334,194 |
| TOTAL LOANS | 46,486,820 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -247,757 |
| Land And Building | 3,507,330 |
| Other Fixed Assets | 409,837 |
| NCUSIF Deposit | 529,095 |
| All Other Assets | 21,682 |
| TOTAL ASSETS | 61,133,641 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 87,061 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 667,590 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,850,196 |
| Regular shares | 21,598,470 |
| All Other Shares & Deposits | 22,499,549 |
| TOTAL SHARES & DEPOSITS | 53,948,214 |
| TOTAL LIABILITIES | 54,702,865 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,430,776 |
| TOTAL EQUITY | 6,430,776 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 61,133,641 |
| INCOME & EXPENSE | |
| Loan Income | 2,299,622 |
| Investment Income | 253,996 |
| Other Income | 140,228 |
| Total Employee Compensation & Benefits | 813,085 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 910,065 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 112,500 |
| Cost of Funds | 757,407 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 384,515 |
| ↑ Back to Top | |