Freedom Federal Credit Union expands membership to Baltimore City and Carroll County

The credit union's membership now includes businesses and consumers in Baltimore City, Baltimore County, Carroll County and Harford County

Freedom Federal Credit Union announced today that it has received approval from National Credit Union Administration (NCUA) regarding their request to expand the organization's membership. Effective immediately, Freedom membership is open to businesses and anyone who lives, works, worships, volunteers, attends school, or has family in Baltimore City and Carroll County. Prior to this expansion, Freedom's membership included Baltimore County and Harford County.

In addition, Freedom’s Board of Directors unanimously approved and ratified the new Charter.

“With the approval of the NCUA, we can now offer what we call 'Freedom Advantage', our unique credit union service offering to serve a broader range of individuals and businesses, particularly those who have not been adequately served by other financial institutions,” explained Mike MacPherson, President and CEO of Freedom.

“Making Freedom membership available to all businesses and individuals in Baltimore City and Carroll County is part of Freedom's long-term strategic growth plan,” MacPherson continued. “Over the years, many businesses and individuals in these areas have expressed great interest in partnering with Freedom and becoming members. We believe Freedom is exactly the type of financial institution that Baltimore City and Carroll County have been asking for and need.”

Freedom Federal Credit Union was founded in 1953 as MATCOM Federal Credit Union. The credit union began in Baltimore and later moved to Harford County to support the Edgewood Arsenal, which became part of the Aberdeen Proving Ground. Freedom received its Harford County municipal charter in 1999 and changed its name to Freedom Federal Credit Union in 2000. The expansion of its charter to Baltimore County was ratified in July 2020.

“The board recognized the vision and strategy of expanding into Baltimore City and Carroll County and enthusiastically approved the new charter,” said Lisa Ermatinger, Chair of the Freedom Board of Directors. “Because credit unions are financial cooperatives, the health and strength of the organization depends on its members being actively engaged and using its products and services. The more members are an active part of Freedom and using our products and services, the better we can offer lower-cost lending options, higher deposit rates, fewer fees, better technology and access, and more community support.”

As part of the expansion, Freedom will explore all options for new physical locations across its membership area and will also discuss how to best leverage technology for those who prefer to conduct business electronically.

About Freedom Federal Credit Union

Freedom Federal Credit Union is a community-based federal credit union that provides commercial banking and financial services to individuals who live, work, volunteer, attend church, attend school, or have family in Baltimore City, Baltimore County, Carroll County, and Harford County. For more information, visit freedomfcu.org.