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FreedomCU.org | 215.612.5900 | Summer 2024

President's Message

Before the rest of the year gets away from me, I wanted to pause for a moment and once again recognize the Credit Union's service to our members. We celebrated 90 years on March 16, 2024 and I'd like to stop and thank those pioneers all those years ago that decided to start this organization.


Click to continue reading our President's Message!

We've Reduced our Mortgage Rates!

Just in time for the summer house-hunting season, we are now offering mortgage loans with new, lower rates! Count on us to help make your loan experience hassle-free.

  • Quick pre-approvals
  • Flexible terms
  • Easy application process


View our rates now!

First Time Home Buyer Program

Our First Time Home Buyer Program was designed with you in mind. Buying your first home is a big decision and can often be a stressful experience. Financing your first home does not have to be!

  • Up to 100% Financing
  • No Money Down
  • No PMI

Click here learn more about the program

Unlock a Great Rate on Auto Loans!

Whether you are looking to purchase a new or used vehicle or want to save money by refinancing a loan from another lender, make Freedom Credit Union your first stop. For a limited time, we're offering auto loans with rates as low as 4.49% APR.


Click Here for Full Disclosures and to Apply!

Save Money by Refinancing Existing Debt

Check out our new feature in Online and Mobile banking! See pre-approved loan offers as well as refinance opportunities on existing debt held with other institutions. Let us save you money and put more cash in your wallet!


In Online banking, select "Get or Refinance a Loan" under the "Tools" menu. In Mobile banking, select "Get or Refinance a Loan" under the "More" menu.

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Summer Skip-A-Pay is Here!

For a low $25 processing fee, you can skip your July or August payment on your eligible Personal or Vehicle loan!*


Here's how:

  1. Click "Submit Request" below
  2. Complete all requested information regarding your loan.
  3. The $25 processing fee will automatically be deducted from your account for each loan payment skipped.
Submit Request

*The promotion is only valid for loan payments due in July or August 2024. Multiple loans may be eligible. Loans cannot be skipped in more than two consecutive Skip-A-Pay promotions. A $25 processing fee per loan will be automatically deducted from your Checking Account and the funds must be in your Account at the time your Skip-a-Pay application is processed or it will be declined. If you do not have a Checking Account, the fee will be taken from your Primary Savings Account. Loan payments can be skipped only on Personal or Vehicle Loans**. In order to qualify for this promotion, all Accounts and Loans must be in good standing. After skipping the payment, your regular monthly payments will resume in accordance with your existing payment schedule. Interest will continue to accrue during the month skipped and your term will be extended by one month. To ensure proper processing please submit your Skip-A-Pay request a minimum of two business days prior to the date your loan payment is due. The Skip-a-Pay request will not be accepted if it is submitted on the day your payment is due or after the payment due date.

 

**The use of the Skip-A-Pay Program could prevent you from receiving benefits under your GAP Waiver if the total number of skipped payments exceeds the amount allowed under your GAP Waiver.

Congrats to our 2024 Scholarship Winners!

Throughout April and May, we received many applications for our annual Freedom Credit Union Scholarships! Three recipients have been selected and were awarded $2,000 each towards their education expenses.


Learn more about the program and this year's recipients.


Click Here to Read More

Refer a Member!

Refer a Member today and you both get rewarded!


Earn up to $200 each when they join!


For full disclosures and program information, click here

The 90th Annual Membership Meeting

The Annual Meeting will take place at 6:00pm Tuesday, September 24, 2024, at the CenterPointe Office Center, 626 Jacksonville Road, Suite 250, Warminster, PA 18974-4862.


The 2024 Election of Officers will be conducted by Mail Ballot. The following positions are open this year: three (3) positions on the Board of Directors and one (1) position on the Credit Committee.


The Nominating Committee has selected the following candidates:


Board of Directors: Charles M. Whiting, Matthew Lentz, Wade Birchfield


Credit Committee: John F. King


Nominations of candidates must be made by the Nominating Committee or by petition. No nominations will be permitted from the floor except in the case of insufficient nominations by the Committee and/or by petition. In the event that all nominations result in a non- contested election, the ballots will not be mailed, and each nominee will be declared elected at the Annual Meeting.


Members wishing to use the petition procedure must file their petitions for nomination with the Secretary of the Credit Union by the close of business on August 2, 2024. Petitions for nomination must contain signatures and Account Numbers of at least one percent of the Membership (645 signatures). Eligibility to seek nomination by petition and to sign petitions is limited to Members who are 18 years of age or older and in good standing at the Credit Union. “Good standing” means that all entrance fees have been paid, all loans with the Credit Union are current, and the Credit Union has suffered no losses as a result of a charge-off or discharge in bankruptcy of any loans or other obligations by the Member to the Credit Union.


The Secretary of the Credit Union shall investigate the standing of all signers, and his decision shall be binding. To be effective, nominations by petition shall be accompanied by a signed certificate from the nominee or nominees stating that they are agreeable to nomination and, if elected, will serve.


Each nominee by petition shall submit a statement of biographical data with the petition containing the following data, which will be published in the official candidate listing and mailed out with the ballot:



  1. Number of years as a member or employee of a credit union.
  2. Current and past employer(s) and positions held.
  3. Years of service and accomplishments with Freedom Credit Union, other credit unions, or credit union organizations as director, officer, or member of committees.


Factors that Affect Your Credit Score

Your credit score is a snapshot of your financial responsibility and it impacts your ability to secure loans, get favorable interest rates and even qualify you for housing or employment. Learn more about what affects your score and the steps you can take to strengthen your financial standing.


Click Here to Read More  


Security and Fraud Awareness

Protect Yourself from Unemployment Fraud

Criminals continue to seize any opportunity to scam unsuspecting individuals. Learn about scam tactics, how they work, and how to protect yourself from falling victim to fraud scams.



Click Here to Read More 

Protect Loved Ones from Financial Exploitation

Watching a loved one fall victim to a scam is heartbreaking. Con artists deliberately target the elderly by exploiting vulnerabilities, loneliness and trust. Learn how you can help protect your loved ones from falling prey to a financial scam.


Click Here to Read More  

ATM Skimming and Shimming

ATM skimming is a type of fraud that occurs when criminals install devices on ATMs to steal cardholder data. These devices capture card numbers and PIN numbers from the magnetic strip and keypad, and can even take photos of the victim while they enter their PIN. Criminals can then use this information to create counterfeit cards and withdraw money from a victims account.


ATM shimming is a type of fraud that involves inserting a small device (called a "shim") into an ATM card reader to steal data from the microchip in newer chip cards. The shim scans the card's microchip and stores the information, which can then be downloaded and used to commit fraud.


Protect yourself from Skimming and Shimming


  • Inspect the machine - Before using any ATM machine, always inspect the machine look for signs of tampering. Make sure card readers on the machines do not appear to be damaged.
  • Block your PIN - When entering your PIN number into the machine, always use caution and shield your information from cameras or bystanders.
  • Pay attention to the keypad - Devices (called overlays) can be placed overtop of keypads to log your PIN number. Make sure the keypad appears in tact and authentic.
  • Use trusted ATMs - Most often, skimming and shimming occurs at privately-owned ATMs. These ATMs most often are located in convenience stores, bars, and grocery stores. Use ATMs that are owned by Credit Unions (for a full listing of our ATMs, visit our Locations page here).
  • Review account activity - Always review your account activity for any suspicious or unusual activity. Our Online and Mobile banking provide real time access to your account information and are great tools for reviewing your account.

Rates

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

CD & IRA RATES

Term

Dividend Rate

APY*

6 months

4.85%

4.95%

12 months

5.25%

5.37%

18 months

5.00%

5.11%

24 months

4.75%

4.85%

30 months

4.40%

4.48%

36 months

4.35%

4.43%

48 months

4.30%

4.38%

60 months

4.50%

4.59%

DEPOSIT RATES

Account Type

APY**

Savings & Club

1.00%

Checking

0.20%

Money Market Tier 1

($0 - $9,999.99)

1.00%

Money Market Tier 2

($10,000 and up)

4.07%

LOAN RATES

Account Type

APR as low as***

Visa® Cash-Back Card



Rate as low as 14.40% but not more than 17.90% thereafter

0.99% Intro Rate



(0.99% Intro rate for 6-month Term)

Auto Loan

4.49%

Home Equity Loan

4.75%

Personal Loan

9.99%

Board of Directors

Dr. Christopher McGinley, Chairman

George Madden, Vice Chairman

Charles M. Whiting, Secretary

Matthew Lentz, Treasurer

Wade Birchfield, Member

Vincent W. Rutland, Member

Marie E. Sejda, Member

Steven J. Turco, Member

Donald M. Woods, Member

President/CEO

John F. King



Credit Committee

John F. King, Chairman

Rick MacLeod, Secretary

Karin Colon, Member

*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 02/23/24. 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.


**APY = 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 rate. Fees may reduce earnings. Regulations prohibit payment in excess of available earnings. The rate listed is accurate as of the last dividend declaration date. 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 4/24/24. 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: Terms up to 84 months. Loan amount must be $5,000 or greater. You must meet employment and/or income requirements to qualify for a loan. The interest rate you receive will be based on your credit history, loan term, and age of the vehicle. APR will not be less than 4.49% or greater than 18%. For example, a loan amount of $15,000 at 4.49% APR for 60 months would be a monthly payment of $280.12. Satisfactory vehicle insurance required. Your actual loan amount will be limited based on the value of the specific vehicle that you are financing. Only passenger vehicles are eligible, no recreational vehicles. Existing Freedom loans are not eligible for refinancing. Credit Union membership eligibility requirements apply. Loan term cannot be less than 6 months or greater than 84 months. This is a Limited Time Offer that can be rescinded at any time, cannot be combined with any other offer, and is 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 4.75% or greater than 8.00%. 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 05/07/24.

Personal: Rates and terms are subject to change and may vary based on creditworthiness and qualifications. All loans subject to approval.

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