Special Announcement from Freedom’s President and CEO

August 28, 2024

Dear Freedom Members,

Back in March of this year, I announced to you some very exciting news about our intention to merge Atlantic Financial Federal Credit Union (AFFCU) into Freedom Federal Credit Union.

Since then, a lot has been going on behind the scenes in support of the merger. I would like to update you now on one of those initiatives.

One of the first steps in the merger process was to ensure the field of membership (FOM) charters for both AFFCU and Freedom FCU matched identically. As a result, in May, we formally requested and applied to our governing body, the National Credit Union Administration (NCUA) to expand our FOM to include Baltimore City and Carroll County, in addition to our existing charter which includes Harford County and Baltimore County.

I am pleased to inform you that the NCUA has approved the FOM expansion request. Your Board of Directors have also unanimously approved and ratified the new field of membership charter.

Effective immediately, in addition to Baltimore County and Harford County, Freedom FCU membership is now open to businesses and individuals who live, work, worship, volunteer, attend school, or have family in Baltimore City and Carroll County.

With NCUA’s approval, as well as Freedom Board of Directors’ approval, we can now provide “The Freedom Advantage”, our unique credit union service offering, to the greater Baltimore City and Carroll County communities.

Why is this Important?

  1. The new Field of Membership (FOM) Charter enables us to serve a broader range of individuals and businesses, particularly those who have been underserved by other financial institutions. With Freedom’s comprehensive financial products, services, and accessible technology, we can now better meet their needs and help them thrive.
  2. With the ability to reach more individuals and businesses, we can make a larger, more positive impact on the financial well-being of the communities we serve.
  3. By expanding our reach, this is an opportunity for Freedom to help more people achieve their financial goals, and in turn, help us reach our strategic and growth goals.

Why did Freedom want to expand its Field of Membership?

Making Freedom membership available to all those who live, work, worship, volunteer, attend school, or have family in Baltimore City and Carroll County is part of Freedom’s long-term strategic growth plan.

Over the years, many businesses and individuals from these areas have expressed a strong interest in partnering with Freedom and becoming members. We are confident that Freedom is exactly the kind of financial institution that Baltimore City and Carroll County have been asking for and need.

How does this benefit current Freedom members?

Because credit unions are financial cooperatives, the health and strength of the organization is dependent on the membership being engaged and utilizing its products and services.  The more members that are an active part of Freedom and that use our products and services, the better the ability we have to offer lower cost loan options, higher deposit rates, less fees, better technology and access, and more community support.

Our expansion into Baltimore City and Carroll County will allow Freedom to provide our unique financial product and service offerings to more consumers and provide a much-needed financial alternative to the big banks.  In doing so, we will be able to increase our membership, and the ability to serve all our members, and our shared communities better.

Freedom has been a strong financial partner to our members for 71 years, and we look forward to being an even better partner with this new FOM Charter.

We will continue to share information and details about this exciting new chapter for Freedom and its membership, and where we go from here.

I ask that if you have family, friends, or coworkers who live, work, study, volunteer, worship or have family in Baltimore City or Carroll County, please help us spread the news of who we are and share with them your experience with Freedom. We can’t wait to meet them!

Thank you all for your ongoing trust and confidence in Freedom Federal Credit Union.

Sincerely,

CEO Signature

Michael MacPherson
President and CEO
Freedom Federal Credit Union

Find A Reason

There are all sorts of sayings and clichés about fighting through adversity, dealing with challenges, and the subsequent benefits that await once you come out the other side. 

I know.  I’ve used them.  Mom used to say, “everything happens for a reason” and I would roll my eyes as kids tend to do when parents impart their particular brand of wisdom.

Depending on the situation, however, in the moment, it’s hard to find the reason.  I mention this, not because there are difficulties, but to share a little message of optimism and hope as we move into spring…the season of new beginnings.

Recently, a close friend of mine passed away unexpectedly.  Now, I know you’re probably thinking, “That’s optimism?  Why are you bringing me down?”.  I promise that’s not my intent so hang in there.

See, I was asked to give a eulogy, something I had never done, and the bizarre thing was that just a couple weeks prior, my friend was talking about how he believed there was a reason for everything.  So, as I prepared my remarks, I looked for a reason for such an unfair loss.

What came to me was maybe less a reason and more a lesson on the significance of life; what we had and what remained rather than what was lost.  It said to me that when grief is so deeply felt, it’s actually a testament to life and is the result of the profound impact one person can have however long or short the time may be.

In recognizing this and thinking about how one moves forward, I realized how important it is not waste the time we have together and never take for granted those we hold most dear.

“One moment can change a day, one day can change a life, and one life can change the world.”  However, you want to measure it, we can all be that one life that changes our world for the better.

There Must Be Manure to Life

Travel though the farmlands and you will no doubt encounter that unmistakable aroma which inevitably leads to the comment, “Was that you?” from some joker in the car. 

Yes, as spring approaches, crops are planted, and flower beds prepped, there will be lots of natures’ fertilizer in use.  At this time of year, I recall one of my first jobs working in the Sears Garden Center, loading bags and bags of peat moss, topsoil and yes, lovely grade A cow manure into people’s cars and trucks.  Sure, there was the occasional busted bag that found its way onto, and into, my clothes…or face, but hey, I was working outside in the sunshine and the physical labor got me into probably the best shape of my life.

And that’s the thing, manure will happen, life is going to dump it on you when you least expect it and in quantities you may think you can’t carry.  But remember, like the manure used in the fields to fertilize and help grow abundant crops and beautiful flowers to feed and nurture us body and soul, the kind life can dole out can also help us grow as individuals.  It’s part of life that not everything is clean and neat and sweet smelling.  Things can go sideways sometimes, you just have to believe in, and look for, what positives can come from them; how it will help you grow into a stronger, more beautiful being.  The same is true for life at Freedom.

When the economy fluctuates, when pandemics arise, when systems falter or we as humans simply make mistakes, it’s how we react, how we learn, how we adapt and improve, that makes us stronger, keeps us moving forwarding and growing to better serve our members, each other, and our community.  There are all sorts of clichés; “anything worth having is worth fighting for”, “what doesn’t kill you makes you stronger”, “everything happens for a reason”, and so on.  These may have some truth to them, but they can also be meaningless in the moment.

All I can say, from experience, is giving up doesn’t work.  Ignoring a problem doesn’t make it go away or resolve it.  Instead, I say, take that manure, spread it on the field, and let something wonderful grow.