Dec, 31, 2023 — FREEDOM CREDIT UNION is a federally insured state chartered credit union headquartered in WARMINSTER, PA with 4 branch locations and about $1.23 billion in total assets. Opened 90 years ago in 1934, FREEDOM CREDIT UNION has about 65,616 members and employs 93 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) | 626 Jacksonville Rd WARMINSTER, PA 18974-4862 |
| Phone: | (215) 612-5900 |
| Fax: | |
| Website: | https://www.freedomcu.org |
| Branches: | 4 branch locations |
| Members: | 65,616 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60275 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,231,737,690 |
| CEO/Manager: | John F King |
| Chairperson: | Christopher McGinley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 259,514,909 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 409,039,137 |
| Unsecured Loans | 92,848,338 |
| Other Loans | 260,147,158 |
| TOTAL LOANS | 762,184,240 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,301,002 |
| Land And Building | 50,001 |
| Other Fixed Assets | 3,072,447 |
| NCUSIF Deposit | 9,873,859 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,231,737,690 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,767,987 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 169,297,559 |
| Regular shares | 268,239,761 |
| All Other Shares & Deposits | 626,740,331 |
| TOTAL SHARES & DEPOSITS | 1,064,277,651 |
| TOTAL LIABILITIES | 1,073,045,638 |
| Regular Reserve | 0 |
| Other Reserves | -2,198,000 |
| Undivided Earnings | 160,890,052 |
| TOTAL EQUITY | 158,692,052 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,231,737,690 |
| INCOME & EXPENSE | |
| Loan Income | 36,039,977 |
| Investment Income | 17,368,724 |
| Other Income | 8,009,781 |
| Total Employee Compensation & Benefits | 11,766,839 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,868,307 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,400,000 |
| Cost of Funds | 22,997,405 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 16,493,212 |
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