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FREEDOM CREDIT UNION

Mar, 31, 2022 — FREEDOM CREDIT UNION is a federally insured state chartered credit union headquartered in PROVO, UT with 1 branch location and about $61.02 million in total assets. Opened 66 years ago in 1956, FREEDOM CREDIT UNION has about 3,986 members and employs 12 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:1 branch locations
Members:3,986
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$61,017,675
CEO/Manager:Ken Payne
Chairperson:Thomas L Crabb

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,546,353
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 21,905,586
 Unsecured Loans 1,087,205
 Other Loans 20,983,129
 TOTAL LOANS 43,975,920
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -223,539
 Land And Building 2,653,796
 Other Fixed Assets 233,189
 NCUSIF Deposit 486,124
 All Other Assets 0
  TOTAL ASSETS 61,017,675
LIABILITIES & CAPITAL:  
 Dividends Payable 25,148
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 605,872
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,153,804
 Regular shares 24,878,680
 All Other Shares & Deposits 19,614,298
  TOTAL SHARES & DEPOSITS 54,646,782
  TOTAL LIABILITIES 55,277,802
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 5,739,873
  TOTAL EQUITY 5,739,873
  TOTAL LIABILITIES, SHARES, & EQUITY 61,017,675
INCOME & EXPENSE  
 Loan Income 391,066
 Investment Income 36,960
 Other Income 23,310
 Total Employee Compensation & Benefits 174,068
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 175,925
 Non-operating Income & (Expense) 6,821
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,077
 Cost of Funds 57,100
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 104,412
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