Freedom CEO Appears on WMAR-TV to Share the Difference Between Banks and Credit Unions with Midday Maryland

 

What is the difference between banks and credit unions? This is a question that comes up often around credit unions. President and CEO of Freedom Federal Credit Union, Mike MacPherson, joined Elsa M. on a recent Midday Maryland segment, produced by WMAR-TV, to explain not just the difference, but the advantage to becoming a credit union member.

In the interview, MacPherson explains the member-owned structure of credit unions and how these not-for-profit organizations deliver the same services as banks with fewer fees and better rates, combined with superior customer service, and a focus on supporting the communities they serve. The members of the credit union are also the owners, not outside shareholders aiming to make a profit. Because of the not-for-profit structure of credit unions, “after we pay the bills, our objective is to put our money back into the community, into the credit union, and to the members”, MacPherson states during the five-minute interview.

MacPherson touches on the history of credit unions in the United States, including their role in helping to maintain financial stability during the 2008 financial crisis. The segment covers the structure of credit unions, how consumers are eligible, and the focus on being the “heart of the community”. “[For Freedom], we believe in giving back…we have a focus on volunteerism, on philanthropy, doing more for our members, and making the community better”, states MacPherson.

How does someone become a member of a credit union? Every credit union has eligibility requirements. For example, Freedom is community chartered, so if you live, work, worship, volunteer or have family in Harford County, Maryland, you are eligible to join. According to MacPherson, all it takes is one dollar, placed in your own savings account, to become a member and have full access to all the services and benefits of credit union membership.

To learn more, watch the full segment above.

Military Saves Week 2019 at APG

Military Saves Week 2019 Seminars at APG

Celebrate for a week. Benefit for a Life.

Freedom is celebrating this year’s Military Saves Week, February 25–March 2, by matching deposits on new membership savings accounts for qualified military and DOD personnel and their families. New membership savings account deposits will be matched up to $100 for adults and up to $50 for kids.These offers are good through March 31, 2019.

Courtesy of the Aberdeen Proving Ground Family and MWR web site—

Learn to manage your finances and how little things can impact your credit scores, plus SO MUCH MORE. Get all the information below and register soon!

Location: AA Recreation Center, Bldg 3326, Erie St.
Cost: Free!*
For more information or to register, contact Leary Henry at [email protected] or call 410-278-2453

Tues, Feb 26, 2019
  • 10 – 11 a.m. Seminar: “Retirement Strategies for Baby Boomers”
    This seminar discusses the challenges of planning for retirement and focuses on planning essentials to better position yourself for this next phase of your life.
  • 11:15 a.m. – 12:15 p.m.​​​​​​​ Seminar: “Home Selling”
    This seminar covers everything from staging to settlement learn to prepare and stage your home, gather the necessary documents and understand the process from hanging the for sale sign to settlement day.
  • 12:30 – 1:30 p.m.​​​​​​​ Seminar: “Home Buying”
    This seminar will cover current real estate market conditions, and how that relates to home buying. We will also provide take-home information packets that discuss the step-by-step process as well as useful tips in buying real estate.
Wed, Feb 27, 2019
  • 10 – 11 a.m. Seminar: “Social Security Strategies for Retirement Planning”
    This seminar discusses the challenges of applying for Social Security benefits. There will be a review of the Social Security program and how it ultimately impacts our retirement decisions, and specifically on “when and how” to file to maximize benefits.
  • 11:15 a.m. – 12:15 p.m.​​​​​​​ Seminar: “Saving & Investing”
    This class will identify reasons to save and how to set goals for a savings plan.  Participants will explore the difference between short term savings and long term investments.
  • 12:30 – 1:30 p.m.​​​​​​​ Seminar: “Reaching for the 850 Credit Score”
    ​​​​​​​This class will identify the characteristics of credit impacting your credit score and discuss the steps to improve your credit and increase your credit score.

 

* All seminars are free, but registration is required. Contact Leary Henry at [email protected] or call 410-278-2453

Partnering with Freedom Federal Credit Union, APG Federal Credit Union and ACS Financial Readiness Program. No endorsement by U.S. Army implied.

It’s Tax Time! Get Your Tax Documents

How to Get Your Tax Documents

You can easily get your 2018 tax documents, in Online Banking or through the mail.

  • Getting Tax Documents if you have Electronic Statements (e-Statements)
    If you have e-Statements, 1099s and 1098s are archived and available in Online Banking. First, log in to Online Banking and click on “e-Statements”.**  Once you’re in Online Banking, click the tab for “Tax Forms” to view and/or print your document.
  • Getting Tax Documents if you DO NOT have Electronic Statements (e-Statements)
    We mailed tax forms to members not registered for e-Statements. Forms went to the mailing address we have on file.

Not registered for e-Statements yet?  Log in to Online Banking. Click on the e-Statements tab** and complete the registration steps. That’s all it takes for you to make the most of this convenient service.

Please remember to list Freedom online banking as a trusted site to prevent pop-up blockers from blocking access to e-statements.

If you have any questions, please call us at 1-800-440-4120, or email [email protected]

 

**Please be sure to disable your browser’s pop-up blocker to ensure our e-Statements page will load successfully for you.