BEL AIR, Md.–Freedom Credit Union is reporting a field of membership expansion to include businesses and any individuals who live, work, worship, volunteer, attend school, or have family in Baltimore City and Carroll County, Maryland.
Prior to the expansion, the $476.4-million Freedom FCU’s FOM included Baltimore County and Harford County, Maryland.
Additionally, Freedom said its board has unanimously approved and ratified the new charter.
“With NCUA’s approval, we can now provide what we call the ‘Freedom Advantage’, our unique credit union service offering, to serve a broader range of individuals and businesses, particularly those who have been underserved by other financial institutions,” President and CEO Mike MacPherson said in a statement. “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. Over the years, many businesses and individuals from these areas have expressed a strong interest in partnering with Freedom and becoming members. We are confident that Freedom is exactly the kind of financial institution that Baltimore City and Carroll County have been asking for and need.”
Branch Expansion Considered
Freedom FCU was chartered in 1953 as MATCOM Federal Credit Union. It changed its name to Freedom Federal Credit Union in 2000.
As part of the expansion Freedom said it will be looking at all options with respect to new physical locations throughout its entire field of membership, as well as how to best leverage technology for those who prefer to conduct business electronically.