July 2, 2020
The Credit Union Was Approved by the National Credit Union Administration to Serve Residents and Businesses of Baltimore County
Freedom Federal Credit Union announced that they received approval from the National Credit Union Administration (NCUA) for their request to expand their field of membership. Effective immediately, Freedom membership is now open to businesses and any individuals who live, work, worship, volunteer, attend school, or has family in Baltimore County. Prior to NCUA approval, Freedom’s field of membership was focused solely on Harford County.
“This is a very exciting time for Freedom Federal Credit Union, our members, and residents of both Baltimore and Harford Counties, as a whole”, stated Mike MacPherson, President and CEO of Freedom. “With NCUA’s approval, we can now provide what we call the “Freedom Advantage”, our unique credit union service offering, to the greater Baltimore County communities. We will be able to better serve a larger group of Maryland consumers and businesses who have currently been underserved, and address their immediate and long-term savings and lending needs as only a credit union, like Freedom, can do”.
Freedom Federal Credit Union was founded in 1953 as MATCOM Federal Credit Union. The Credit Union started in Baltimore and later moved to Harford County in support of the Edgewood Arsenal, (which became part of Aberdeen Proving Ground). Freedom received their Harford County community charter in 1999 and changed their name to Freedom of Maryland Federal Credit Union in 2000.
The expansion into Baltimore County was a logical step in the Credit Union’s evolution. Freedom already serves over 3,000 members that are Baltimore County residents and were able to join because of some affiliation with Harford County.
MacPherson continued: “We feel Freedom is an organization best qualified to meet the financial service needs of the expanded community. We’re financially strong, with full service, easily accessible locations, user-friendly tools for remote accessibility, and a wide range of products, services, and technology. Additionally, Freedom has always focused on our social responsibility, generously supporting the communities we serve. We now have even more opportunity to do good in the community, for even more organizations, businesses, and people across both Baltimore and Harford Counties”.
“Strategic growth is vital to our long term strength and viability”, stated Mike Kaiser, Chairman of the Board for Freedom. The entire Board of Directors saw the wisdom and value in our expansion, not only for the organization, members and communities we currently serve, but also for our future members, and unanimously adopted the expanded field of membership”.
Kaiser continued: “Expanding our field of membership to Baltimore County will also allow us to provide cutting edge products and services to many more members. As a full-service financial institution, Freedom has long catered, and is uniquely structured, to serve a wide variety of consumers, including those of low and modest means. We believe that Freedom is positioned to provide the value of a local, community-focused, ‘people helping people’-centric financial institution, while we continue to adhere to the principles, mission, and values that we have developed over our more than 67 year history”.
As part of the expansion, Freedom will look at all options with respect to new, physical locations, in both Harford and Baltimore Counties, as well as how best to leverage technology for those who like and want to conduct business electronically and remotely, whenever and wherever it is convenient for them.
About Freedom Federal Credit Union
Freedom Federal Credit Union is a community-chartered federal credit union offering consumer financial services to those who live, work, volunteer, worship, attend school, or have family in Harford and Baltimore Counties. Additionally, Freedom offers a full-line of banking services for all businesses, associations, and other organizations that are based in Harford and Baltimore Counties. To learn more, visit freedomfcu.org.