FreedomCU.org | 215.612.5900 | Winter 2025

Jingle Bills! Take Control of your Debt!

The holidays are a time of joy, celebration, and, unfortunately for many, spending. When busy with buying gifts, traveling to see family, and enjoying festive meals, it’s easy to rack up credit card debt. The high-interest rates of credit cards can make paying off your debt seem impossible, leaving you with a sense of financial stagnation. Don't panic! Refinancing your holiday debt might be the answer. It can provide immediate relief and set you on a path to financial freedom!

Lower Interest Rates

One of the main advantages of refinancing is the opportunity to secure a lower interest rate. Credit cards often have high rates, sometimes exceeding 20%. By refinancing through a personal loan, you may be able to secure a much lower rate, which will save you money in the long run. With less money going toward interest, you can pay off your balance faster.

Consolidate Multiple Debts

If you’ve accumulated debt across multiple credit cards or loans, refinancing can simplify your financial situation. Consolidating multiple debts into one loan means you’ll only have one monthly payment, making it easier to manage. It’s like hitting the reset button and streamlining your finances, so you don’t have to juggle different due dates and amounts.

Consider Applying for a Personal Loan!

New Year's resolutions can be tricky territory. Sure, we set them with the best of intentions, but sticking to them? That's another story. Especially where spending is involved.

Many of us will feel the pain when those high-interest credit card statements start hitting our mailboxes this month. In an effort to help reduce that pain, please know that help is available.

We partner with the nonprofit GreenPath Financial Wellness. They've been turning resolutions into reality since 1961. From tackling credit card debt to reducing monthly payments, they can get your new year off on the right foot. Here's a quick look at what the average Debt Management Program (DMP) client saves when they join:



• $161 average reduction in monthly payments.
• $25,327 saved in interest, on average.
• Debts paid off 6 years sooner than going it alone.

It all starts with a free, confidential consultation with a certified counselor who will take the time to understand you, your goals for this year, and where you're at today. Click the link below to connect with GreenPath today to stop stressing...and start saving!

Get started today!

The easiest way to update your contact information is through Online Banking or Mobile Banking. In Online Banking, select your name in the top right corner and then select "Settings". Information can be updated by selecting "Edit" next to the field you wish to change under "Profile". In Mobile Banking, select "More" and then "Profile". Information can be updated by selecting "Edit" next to the field you wish to update.

Click here to log in to Online Banking

Security and Fraud Awareness

Fraudsters Pretending to be Freedom Credit Union

Fraudsters continue to use phishing, spoofing, and social engineering attacks on our members using phone calls, text messages, and emails where they pretend to be representatives of Freedom Credit Union. During these fraud attacks, bad actors are contacting our members and asking for various credentials such as user names, PIN numbers, security codes, account numbers, card numbers and more with the intent to gain access to member accounts and drain available funds.

It is important for our members to understand that we will never reach out to you directly to request any of your personal or account information. If someone contacts you and requests this information, DO NOT provide it. Hang up immediately and call us at 215-612-5900.

Protect Loved Ones from Financial Exploitation

Fraud and Scams

Each year, fraudsters find new ways to trick people and financial institutions out of money. While some scams involve new tricks, many scams have been around for years. And they all have one commonality to them: fraudsters continue to be successful by focusing on and taking advantage of the weakest link - you. By continuing to educate our members and providing you with important information on frauds and scams, we hope that we are equipping you with the information you need to avoid becoming their next victim.

Common Scams

• Romance Scams
• Fraudsters pretend to be romantically interested in a victim to gain their trust and manipulate them into sending money or personal information. These scams often occur through online dating platforms or social media, where the scammer fabricates emotional connections and urgent situations to exploit the victim.
• Tech Support Scams
• Fraudsters impersonate legitimate tech support representatives and convince victims that their computer has a problem, often leading them to pay for unnecessary services or grant remote access to their device. The scammers may also steal personal information or install malicious software.
• Advanced Fee Scams
• Fraudsters convince victims to pay upfront fees for goods, services, or loans that never materialize. Once the victim pays the initial fee, the scammer disappears, and the promised product or service is never delivered.
• Social Security, Government & IRS Scams
• These scams involve fraudsters pretending to be government officials to trick victims into providing personal information or paying fake debts. These scammers often use threats of legal action, arrest, or account suspension to create urgency and manipulate victims into compliance.
• Secret Shopper Scams
• Fraudsters offer victims a job as a "mystery shopper," asking them to evaluate stores or services, and then instruct them to transfer money or purchase gift cards using funds provided by the scammer. The victim is often left with no payment and may be held liable for the money they sent.
• Relief Scams
• These scams exploit people in need by offering fake assistance, such as disaster relief or debt forgiveness, in exchange for upfront fees or personal information. Once the victim pays or provides sensitive details, the scammer disappears, and no help is provided.

Fraud Tactics

• Mail Theft and Check Fraud
• Mail theft occurs when someone steals mail, often to access personal information, checks, or sensitive documents, with the intent to commit identity theft or fraud. Check fraud involves the illegal alteration, forging, or unauthorized use of checks to withdraw money or make purchases, often after the theft of checks from individuals or businesses.
• Person to Person (P2P) Payment Fraud
• Occurs when scammers trick individuals into sending money via P2P platforms (like Venmo, Paypal, or Zelle) under false pretenses. This often involves impersonating a friend, family member, or business and convincing the victim to transfer funds for fake services, products or emergencies.
• Fraudulent Wire Transfers
• Occurs when scammers trick victims into sending money through wire transfer services under false pretenses, often by impersonating trusted individuals or businesses. Once the money is transferred, it is typically difficult to recover, leaving the victim with significant financial losses.
• Account Takeover Fraud
• Occurs when a scammer gains unauthorized access to a victim's online account, such as a bank or credit card account, by stealing login credentials. The fraudster then makes unauthorized transactions, often draining funds or making purchases using the victim's identity.
• Text Message and Spoofed Website Fraud
• Involves scammers sending fraudulent text messages or creating fake websites that mimic legitimate ones to trick victims into revealing personal information, such as login credentials or payment details. These scams often appear as urgent requests from trusted entities, like banks, credit unions or online services, to steal sensitive data.
• Elder Abuse & Financial Exploitation
• Involves the illegal or unethical use of an elderly person's resources, finances, or assets by someone in a position of trust, such as a caregiver, family member, or fraudster. This can include stealing money, coercing the elderly person into signing financial documents, or manipulating them into making financial decisions against their best interests.
• Gas Pump Fraud
• Occurs when scammers use devices, such as skimmers, to illegally collect credit card information from unsuspecting customers at gas station pumps. These devices are placed on the pumps to capture card data when a customer swipes their card, which is then used for fraudulent transactions.
• ATM Fraud
• Involves criminals using various methods, such as skimming devices or malware, to steal a victim's card information and PIN when they use an ATM. The stolen data is then used to withdraw money or make unauthorized transactions from the victim's account.

A common theme between many of these scam and fraud tactics is a sense of urgency. If you ever receive an unexpected phone call, text message, or email, that instills a sense of urgency or emphasizes that the request is an emergency, ignore it and call us directly.

Stay informed and empowered—follow us on Facebook for the latest updates on Freedom Credit Union products and services, plus expert financial tips and insights to support you and your family’s financial journey.

Rates

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

CD & IRA RATES

DEPOSIT RATES

LOAN RATES

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

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 01/01/25. 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 01/01/25. 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 4.74% or greater than 18%. For example, a loan amount of $20,000 at 4.74% APR for 60 months would be a monthly payment of $375.75. 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. 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 6.25% 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 10/23/24.

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

FreedomCU.org | 215.612.5900

Federally Insured by NCUA | Equal Housing Opportunity