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FreedomCU.org | 215.612.5900 | Fall 2022

President's Message


We Are Here to Help in Difficult Times


First the Pandemic, and then out of control inflation and higher prices for the essentials such as food, utilities and gas to name a few. What’s next? Well, I don’t know the answer to that, but I will say that we were around during the Pandemic and helped those members that needed to navigate those uncertain times with low cost loans. Just like we were there then, we are here again ready to help. If you find that you are struggling to make ends meet and it’s getting harder to make loan payments on loans you have at the Credit Union please let us help. Contact our loan servicing department and let’s work through a temporary solution to help you through these tough times. We are not talking about handouts, we are talking about a solution to help you through the tough times you may be experiencing.


You are the owners of the Credit Union and we all work together in good times and in bad but we can’t do anything if we do not hear from you. Trust me, you make the call, and we will work to help relieve the financial pressures you are feeling.


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Shred Events 

Helping our members keep your information safe and secure is a priority here at your credit union. As a special member service, in September we held two shred events to provide people the opportunity to safely destroy their sensitive documents and receipts for free. Our Warminster Access Center Shred event was held on September 27, and our Morrell Plaza Access Center Shred event was held on September 28.


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Contactless Cards are Here!

We are excited to share that contactless card technology is here! If you recently received a new VISA® credit or debit card, you are likely carrying this tap and go technology in your wallet now. If you have a VISA® credit or debit card currently that does not have the contactless symbol, you will receive a new contactless card around when your current card expires. If your expiration date is awhile out and you would like to get a contactless card, contact us.


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Protecting Yourself from Scams 

In today’s world, protecting yourself from fraud is increasingly difficult as scams are becoming more and more sophisticated. Even the savviest individuals are not immune to falling victim to identity theft or other schemes. We always say if something seems too good to be true, it likely is, however new threats present themselves daily and your credit union is committed to helping you avoid them. 


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Focus on Security

If you have logged in to online or mobile banking over the past few months, you likely have noticed that your two-factor authentication (2FA) options have changed. As of early October, email is no longer offered as an option for 2FA, and members must choose an alternative option. 


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Rates

Click HERE to review our most current Share and Loan rates.

CD & IRA RATES

DEPOSIT RATES

LOAN RATES

Winter Skip a Pay is Coming Soon! 

December 1-January 31.

More details to come. Watch your email and visit freedomcu.org for details.

*APY = Annual Percentage Yield. A minimum deposit of $500 ($250 for Youth CD - 25 or younger) is required to open a CD. Rates are accurate since 10/21/22. Dividends are calculated by the actual daily balance method which applies a daily periodic rate to the balance in the CD each day. The Dividend Rate and APY at time of purchase are fixed and will be in effect for the term of the CD. Fees may reduce earnings. Terms and rates are subject to change without notice. For rates and fees, see our Rate and Fee Schedule. Regulations prohibit payment in excess of available earnings. Penalty required for early withdrawal.

**Annual Percentage Yield. Dividends on IRA, Savings, Club, and Checking Accounts are computed monthly on average daily balances of $5 or more and posted monthly. The Money Market Account Tier 2 has a variable rate which will be greater than our regular savings rate, and subject to daily adjustments. Dividends will be paid monthly on the average daily balance, based upon the current tier level rates. Fees may reduce earnings. Regulations prohibit payment in excess of available earnings. The rate listed is the rate that the Credit Union anticipates paying as of 11/01/2022. Rates subject to change without notice and may change after account is opened.

***APR=Annual Percentage Rate. See additional disclosures below for each loan type listed.

VISA®: Rates accurate as of 9/30/22. The total maximum unsecured debt per member is $30,000. Terms and rates are subject to change without notice. For Credit Cards, an eligible co-borrower will be required unless the Cardholder has independent means of repaying any credit extended. The interest rate that you receive will be based on your credit history.

Auto: Rates as of 11/4/2022. The interest rate you receive will be based on your credit history, loan term, and age of vehicle. APR will not be less than 4.49% for new cars or used cars, or greater than 18.00%. Payment Example: Monthly payments for a $20,000 Auto loan at 4.49% APR for a term of 5 years would result in 60 monthly payments of $372.77. Satisfactory vehicle insurance required. Freedom Loans and Lines of Credit can't be refinanced and other conditions may apply. Terms and rates are subject to change without notice.

Home Equity: Annual Percentage Rate (APR) applies to Loan-to-Value (LTV) less than or equal to 80%. APR will not be less than 5.50% or greater than 8.75%. The interest rate you receive will be based on your credit history. Hazard Insurance is required. For loans over $150,000, Title Insurance is required. Loan subject to final approval. Terms and rates subject to change without notice and apply to loans in the 2nd lien position. Rates effective as of 09/29/2022.

Personal: The maximum total unsecured debt per Member is $30,000. Terms and rates are subject to change without notice. Annual Percentage Rate (APR) will not be less than 9.99% or greater than 17.99%. Minimum term is 6 months. Maximum term is 60 months. The interest rate that you receive and the amount you may borrow will be based on your credit history and are subject to approval. The maximum unsecured debt per Member is $30,000. Payment Example: Monthly payments for a $10,000 personal loan at 9.99% APR for a term of 60 months would result in 60 monthly payments of $212.42. Payment is calculated using $21.24 per $1,000 borrowed. There are no application fees. A fee of $28 will be applied for any late payments. Advertised rates and terms are subject to change without notice. Loan proceeds may not be used to refinance any existing loan with Freedom Credit Union. Offer available for a limited time and is subject to change without notice. Credit union membership is required, eligibility requirements apply.

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FreedomCU.org | 215.612.5900

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