Freedom Credit Union

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 232403099 ✦ Warminster, PA ✦ Designated as a 501(c)(14)

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Overview

What is Freedom Credit Union?

Freedom Credit Union is a cooperative savings and credit association based in Warminster, Pennsylvania, with a membership of 68,716 individuals. Their primary purpose is to promote thrift among their members, create a source of credit, and offer an opportunity for members to control their money democratically. With a mission to provide low-cost financial services and products, Freedom Credit Union aims to improve the economic and social conditions of its members. The organization employs 102 people and is dedicated to delivering affordable financial solutions to its community.


Official website here: www.freedomcu.org

Is Freedom Credit Union legitimate?

Freedom Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Freedom Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $1,413,039
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,180,196

For more financial information, click here


Official website here: www.freedomcu.org

What is the mission statement of Freedom Credit Union?

Freedom Credit Union is a cooperative savings and credit association, with a membership of over 68,000 individuals. The mission of the credit union is to provide affordable financial services and products to its members. This non-profit organization was established with the purpose of promoting thrift among its members, offering them a reliable source of credit at reasonable interest rates. The credit union empowers its members to control their own money democratically, with the ultimate goal of improving their economic and social conditions.


Official website here: www.freedomcu.org

Who is the CEO of Freedom Credit Union?

John F King is the President/Ceo of Freedom Credit Union. The CEO's salary of Freedom Credit Union is $865,645 and their total compensation is $931,655.


Official website here: www.freedomcu.org

What is the revenue of Freedom Credit Union?

Freedom Credit Union's revenue in 2022 was $50,265,663.


Official website here: www.freedomcu.org

Who are the executives of Freedom Credit Union and what are their salaries?

The average compensation at Freedom Credit Union during 2022 was $74,443. There are 102 employees and 10 volunteers at Freedom Credit Union.


Here are 17 key members and their salaries (Freedom Credit Union's CEO's salary is $865,645 and their total compensation is $931,655):


Christopher Mcginley (Chairman)
  • Compensation: $11,500
  • Related: $0
  • Other: $0
George Madden (Vice Chairman)
  • Compensation: $8,840
  • Related: $0
  • Other: $0
Charles M Whiting (Secretary)
  • Compensation: $8,840
  • Related: $0
  • Other: $0
Marie E Sejda (Director)
  • Compensation: $6,250
  • Related: $0
  • Other: $0
Crystal Barnett (Director)
  • Compensation: $6,250
  • Related: $0
  • Other: $0
Wade Birchfield (Director)
  • Compensation: $6,250
  • Related: $0
  • Other: $0
Steven Turco (Director)
  • Compensation: $6,250
  • Related: $0
  • Other: $0
Vincent Rutland (Director)
  • Compensation: $6,250
  • Related: $0
  • Other: $0
Matthew Lentz (Treasurer)
  • Compensation: $8,840
  • Related: $0
  • Other: $0
Donald Woods (Director)
  • Compensation: $6,250
  • Related: $0
  • Other: $0
John F King (President/Ceo)
  • Compensation: $865,645
  • Related: $0
  • Other: $66,010
Kevin Quinn (Svp - Chief Financial Offi)
  • Compensation: $327,531
  • Related: $0
  • Other: $73,832
Tim Greim (Svp - Chief Information Of)
  • Compensation: $321,078
  • Related: $0
  • Other: $56,616
Patrick Macleod (Consumer Lending Manager)
  • Compensation: $145,547
  • Related: $0
  • Other: $54,790
Karin Colon (Evp- Chief Operations Offi)
  • Compensation: $405,481
  • Related: $0
  • Other: $59,626
Sandra Dworecki (Project Manager)
  • Compensation: $138,308
  • Related: $0
  • Other: $46,304
Miguel Duprey (Member Services Team Manager)
  • Compensation: $140,297
  • Related: $0
  • Other: $51,836


Official website here: www.freedomcu.org

Where can I find the form 990 for Freedom Credit Union?

Freedom Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.freedomcu.org

Learn more at the official website: www.freedomcu.org

Mission Statement of Freedom Credit Union

Freedom Credit Union, a cooperative savings and credit association, is dedicated to promoting thrift and providing affordable financial services and products to its 68,716 members. Established with the goal of putting economic power into the hands of its members, Freedom Credit Union offers an opportunity for individuals to control their own money in a democratic manner. By doing so, the organization aims to improve the economic and social conditions of its members.

Freedom Credit Union operates under the belief that everyone deserves access to financial services at reasonable rates. As a not-for-profit entity, its mission is to provide low-cost financial services and products to its members, ensuring they have the means to manage their finances effectively. The credit union's democratic nature allows its members to have a say in how their financial institution is run, fostering a sense of community and empowerment.

Freedom Credit Union's commitment to its members extends beyond just financial services. By promoting thrift, the organization encourages its members to save and build a financial foundation for their future. This not only benefits individuals but also contributes to the overall financial stability of the community.

By offering a range of financial products, Freedom Credit Union caters to the diverse needs of its members, providing them with the tools they need to achieve their financial goals. The credit union's cooperative structure ensures that any profits generated are reinvested back into the organization, allowing it to offer competitive rates and services to its members. With a focus on accessibility and affordability, Freedom Credit Union is more than just a financial institution - it's a partner in the financial journey of its members, helping them to improve their economic conditions and build a better future.

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Impact




October, 2024

Freedom Credit Union plays a vital role in the community by offering low-cost financial services and products to its members. With a focus on promoting thrift among its 68,716 members, the credit union serves as a cooperative saving and credit association that creates accessible sources of credit at reasonable interest rates. This enables members to manage their finances effectively and enhances their ability to improve their economic and social conditions. By operating on a democratic basis, Freedom Credit Union empowers its members to take control of their financial futures, leading to a stronger, more resilient community in Warminster, PA.




This information is meant to be a general summary of Freedom Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$50,265,663 (2022)
Expenses
$36,597,037 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $6,502,089
  • Program Service Revenue: $29,133,980
  • Gross Receipts: $50,265,663

Assets and Liabilities:

  • Total Assets: $1,150,459,272
  • Total Liabilities: $1,011,004,433
  • Net Assets: $139,454,839

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

INTEREST ON LOANS

Revenue

$29,133,980

Organization Details

Founding Year

1934

Principal Officer

John F King

Main Address

626 JACKSONVILLE RD 250, WARMINSTER, PA, 189744862

NTEE Category

Code: W60 - Public benefit

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