Your Story Starts with Freedom

I want to tell you and, in turn, have you tell others, just how amazing it is to be part of Freedom.  The numbers show we’re part of a strong financial institution headed in the right direction, but the thing everyone needs to know is that Freedom is living the credit union philosophy.  We realize providing access to the financial products and services people need or want is essential; we realize providing those products and services at the most reasonable rates and fees is an obligation; and we realize ensuring convenient access with branches, over the phone or through online and mobile banking is a priority.  Beyond that, however, is that our commitment to people helping people; to fair and honest transactions, to integrity and trustworthiness, and a pledge to do what is right by our employees, our members and our community is the true lifeblood of Freedom.  When we put people first, Freedom thrives. Our strategic focus of member and employee experience has helped drive the financial strength of Freedom.

When we promote Freedom we use words like trust, partner, member-first financial solutions and others like them, to share our story because one of our biggest challenges is awareness.  Despite all the marketing, commercials, community involvement, word of mouth, people still don’t understand the Freedom difference, the benefit of banking at Freedom.  They don’t know that we do mortgage or commercial lending, they don’t realize we have the same technologies and accessibility as a large national bank.  They don’t realize that too big to fail often means too big to care for people as individuals, to hear their story and do the best to help them achieve their goals.  When I think about this, I remember that Mr. Rogers quote I sent before about the helpers which I think applies here.  There are a lot of scary things; people focused on me rather than we and financial institutions or businesses putting self-interest before people’s well-being.  That’s why at Freedom, we strive to be one of the helpers.  We make it our mission to help by providing quality, affordable, cutting edge services and products for our members and being a partner in the community.  Whether its planning for retirement, setting a budget, buying a first home or new car, helping with medical or education expenses, taking a well-deserved vacation, or supporting a myriad of philanthropic and charitable endeavors to make our community better and improve the lives of our neighbors, the theme of the annual meeting “Your story starts with Freedom” says it best. 

Carry that message from here, because when you share your experience, and as more members join and benefit from all we have to offer, the more we can and will continue to evolve, thrive and grow.  Just as our members’ story starts with Freedom, our story endures because of them.

2019 Annual Meeting

Join Us for Our 2019 Annual Meeting

Members are welcome to join Freedom’s President and CEO, Mike MacPherson, along with our Board of Directors at our 2019 Annual Meeting. The meeting will be held at Richlin Ballroom on Tuesday, April 9. Light dinner fare will be provided.

Please RSVP online or by calling our Contact Center at 1-800-440-4120. We look forward to seeing you there!

  • Date: Tuesday, April 9, 2019
  • Location: Richlin Ballroom, 1700 Van Bibber Rd, Edgewood, MD 21040
  • Time: 7:00-8:00 PM; Doors open and reception begins at 6:00 PM
  • Who May Attend: All Freedom members

 

2019 Tax Code Changes

Tax Code Changes—What You Need to Know

wooden blocks spelling out 2019 placed on top of a 1040 tax form

Although most changes won’t take effect until April 2019, some of them can impact the financial choices you’ll make this year. For that reason, here’s the details on the most important tax code changes.

  1. Changes to the amounts taxed for each income bracket
    The 7 tax income brackets remain unchanged, but the amounts each bracket is taxed have gotten an overhaul. Here are the new rates for taxpayers filing as individuals.

    Taxable Income Bracket                Tax Due 

    10%         $0-$9,700                       10% of taxable income

    12%         $9,701–$39,475              $970 +12% of income $9,700+

    22%         $39,476–$84,200            $4,543+22% of income $39,475+

    24%         $84,201–$160,725          $14,382.50+24% of income $84,200+

    32%         $160,726–$204,100        $32,748.50+32% of income $160,725+

    35%         $204,101–$510,300        $46,628.50+35% of income $204,100+

    37%         $510,301+                       $153,798.50+37% of income $510,300+

    You can check out the taxable income rates for couples filing jointly and for individuals filing as heads of households here

  2. Changes in standard deduction amounts
    The standard deduction in 2019 will be $12,200 for individuals, $18,350 for heads of household, or $24,400 for married couples filing jointly and surviving spouses.
  3. Elimination of personal exemptions
    The personal exemption amount is being eliminated for the 2019 tax year.
  4. Changes to itemized deductions
    • Medical and dental expenses.  For 2019, you can only deduct those expenses exceeding 10% of your adjusted gross income (AGI).
    • State and local taxes (SALT). The new maximum for SALT deductions is a combined total of $10,000 for taxpayers filing jointly.
    • Home mortgage interest. In 2019, home interest payments will be maxed at $750,000 for married couples filing jointly.
    • Job expenses and miscellaneous. In 2019, you can only claim work-related deductions that are less than 2% of your AGI.
  5. Changes to tax credits
    • Child Tax Credit. The child tax credit has increased to $2,000 per child.
    • Earned Income Tax Credit (EITC). The maximum EITC amount for 2019 is $6,557 for married taxpayers filing jointly who have three or more children.
    • Adoption Credit. The maximum adoption credit in 2019 for a child with special needs is $14,080. The ceiling for other adoptions is $13,810.
    • Lifetime Learning Credit. For 2019, the AGI used by joint filers to determine the reduction in the Lifetime Learning Credit is increasing to $116,000.
  6. Retirement account contributions
    For 2019, you can contribute a total of $6,000 to one or more traditional or Roth IRA(s) if you’re under age 50, and $7,000 if you’re age 50+. For 401(k)s, you can contribute $19,000, and $25,000 if you’re age 50+.