Sep, 30, 2025 — FREEDOM OF MARYLAND FEDERAL CREDIT UNION is a federal credit union headquartered in BEL AIR, MD with 8 branch locations and about $554.75 million in total assets. Opened 73 years ago in 1953, FREEDOM OF MARYLAND FEDERAL CREDIT UNION has about 42,676 members and employs 122 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 OF MARYLAND FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2019 Emmorton Rd BEL AIR, MD 21015 |
| Phone: | (410) 676-5700 |
| Fax: | (443) 512-8389 |
| Website: | https://www.freedomfcu.org |
| Branches: | 8 branch locations |
| Members: | 42,676 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8550 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $554,748,547 |
| CEO/Manager: | Michael MacPherson |
| Chairperson: | Lisa Ermatinger |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 65,282,651 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 227,270,519 |
| Unsecured Loans | 34,440,566 |
| Other Loans | 176,526,288 |
| TOTAL LOANS | 438,251,400 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,018,476 |
| Land And Building | 8,161,479 |
| Other Fixed Assets | 4,861,809 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 4,875,215 |
| All Other Assets | 176,613 |
| TOTAL ASSETS | 554,748,547 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 8,000,000 |
| Accounts Payable & Other Liabilities | 6,624,880 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 108,390,141 |
| Regular shares | 176,725,802 |
| All Other Shares & Deposits | 209,987,053 |
| TOTAL SHARES & DEPOSITS | 495,102,996 |
| TOTAL LIABILITIES | 509,727,876 |
| Regular Reserve | 0 |
| Other Reserves | 7,491,407 |
| Undivided Earnings | 37,529,264 |
| TOTAL EQUITY | 45,020,671 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 554,748,547 |
| INCOME & EXPENSE | |
| Loan Income | 19,417,401 |
| Investment Income | 3,600,736 |
| Other Income | 1,342,713 |
| Total Employee Compensation & Benefits | 8,239,399 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 8,356,928 |
| Non-operating Income & (Expense) | 1,668,814 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,047,539 |
| Cost of Funds | 6,247,987 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,892,120 |
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