Freedom First Credit Union Salem VA | Low Mortgage Rates & Auto Loans

Introduction

Welcome to Freedom First, your trusted financial partner located at 1235 Electric Rd, Salem, VA 24153. Since our establishment in 1956, we have proudly served our community with dedication and integrity. With a strong membership of 69,029 individuals, we strive to provide personalized banking solutions that cater to your unique needs. At Freedom First, our commitment goes beyond just numbers. We have a robust total asset base of $1,168,696,035 and total deposits amounting to $36,484,296, reflecting our stability and reliability as a credit union. Our aim is to empower members like you through various financial services including auto loans, mortgages, and personal banking options helping you achieve your financial goals. Under the leadership of CEO Paul Phillips and Board President Wayne Strickland, our team of 221 employees is dedicated to delivering exceptional service. Whether you are looking for assistance with loans or seeking guidance on savings plans, we are here for you. For any official correspondence, please note that while members can visit us at our branch location, all mail should be directed to the same address: 1235 Electric Rd, Salem, VA 24153. We invite you to explore what Freedom First has to offer. Feel free to call us at 540-389-0244 or visit our website at freedomfirst.com for more information. Together, let's build a brighter financial future!

Branch History & Mission

Our Mission

At Freedom First, our mission is clear: to empower individuals and families through exceptional financial services while fostering a strong sense of community. We understand that financial well-being is crucial for achieving life's goals. That's why we provide a range of services including checking and savings accounts, auto loans, mortgages, credit cards with rewards, and business banking solutions. We are committed not only to serving our members but also to enriching the communities we operate in. Our outreach efforts include local partnerships that aim to improve lives through education and support. By focusing on community needs alongside financial success, we strive to make a real difference. Our branch has embraced digital advancements to enhance member experience. With online banking options available, you can manage your finances anytime and anywhere. We ensure accessibility by complying with ADA standards and providing essential services like mobile payments and e-statements. While members can visit us at 1235 Electric Rd, official correspondence should be sent to the same address. If you're looking for a trusted partner in your financial journey, consider joining Freedom First today! Experience firsthand how we can assist you in achieving your goals while being part of a caring community. For more information or to become a member, call us at 540-389-0244 or visit our website at Freedom First. Join us as we continue our legacy of supporting each other because together, we thrive!

Branch Location & Accessibility

Welcome to Freedom First, your trusted credit union located conveniently at 1235 Electric Rd in Salem, VA. Our branch is easy to find and is situated near popular local landmarks, making it a breeze for members and visitors alike to stop by. Whether you're heading home from work or running errands in the area, we're here to serve you. At our Salem branch, we pride ourselves on accessibility. We offer ample parking right outside, ensuring that all our members can visit us without hassle. The building is fully ADA compliant, featuring ramps and accessible entrances so everyone can enjoy our services comfortably. Our operating hours are designed with your busy schedule in mind: we're open Monday through Friday from 9 AM to 5 PM, with extended drive-thru hours from 8 AM to 6 PM. On Saturdays, you can still catch us from 9 AM to 12 PM for any banking needs. If you have questions or need assistance, don't hesitate to call us at 540-389-0244. In addition to traditional banking services such as checking and savings accounts, we also provide convenient ATM access and drive-thru banking for quick transactions like deposits and withdrawals. While visiting us at our branch, you'll experience friendly service tailored to meet your financial needs. While members can visit us at 1235 Electric Rd, official correspondence should be sent to the same address. We look forward to welcoming you soon! Come by today or give us a call; we're excited to help you on your financial journey!

Member Eligibility

Welcome to the community at Freedom First! Becoming a member is a straightforward and welcoming process. If you're located in or around Salem, VA, or have a connection to this vibrant area, you're likely eligible to join us. We proudly serve individuals who live, work, worship, or attend school in our community. This means that whether you're a long-time resident or just starting your journey here, there's a place for you at Freedom First. By becoming a member, you'll not only gain access to a variety of financial services tailored to your needs but also enjoy the benefits of being part of a supportive network that values your financial well-being. To get started on your membership journey, simply visit us at our branch located at 1235 Electric Rd Salem Va 24153 or give us a call at (540) 389-0244. For more detailed information about eligibility criteria, feel free to check out our website at http://www.freedomfirst.com/about-us/who-we-are/membership-eligibility . Once you're ready, opening an account is easy just head over to https://apply.freedomfirst.com/cu/viewsubmittedloans.aspx?enc=kw21wblm1yxpjjabdozadwvncngeo8n0klsfjprz1ftt3toc2cyouujuzurhtv6f . We can't wait to welcome you into our family!

Business Banking & Commercial Services

Merchant Services That Matter

In today's fast-paced market, managing transactions efficiently is crucial. Our merchant services help streamline payments, whether you're operating a café or a retail store. Imagine a busy Saturday morning where your customers enjoy quick checkouts thanks to our user-friendly payment solutions. This not only enhances customer satisfaction but also keeps your operations running smoothly. Let us be part of your journey to success at Freedom First, located at 1235 Electric Rd Salem Va 24153, Salem, VA. Connect with us today at (540) 389-0244 to explore how we can support your business endeavors!

Tailored Loan Options

Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We've funded over $897 in commercial loans for our members, helping businesses scale and succeed. - We also support the broader business community with $6 in non-member commercial loans, providing flexible financing solutions. - With an outstanding commercial loan portfolio of $490,850,324, we continue to drive economic growth by financing new and expanding businesses.

Comprehensive List Of Services

Business Banking

For entrepreneurs and small business owners, Freedom First provides comprehensive Business Banking services. From merchant services that streamline transactions to business loans that help grow your operations, we're here to support your journey every step of the way.

Convenient Access

With our ATM & Cash Withdrawal Services, accessing your funds is quick and hassle-free. Our basic drive-thru banking allows for easy deposits and withdrawals without leaving your vehicle perfect for busy days when every minute counts.

Credit Cards

To reward your loyalty, we offer Credit Cards with Rewards that let you earn points on everyday purchases. It's an effortless way to save on travel or get cash back while enjoying the convenience of credit.

Digital Banking Features

In today's fast-paced world, having control over your finances through technology is essential. Our robust Online & Mobile Banking platforms ensure that you have 24/7 access to manage your accounts. Plus, features like person-to-person payment options allow you to send money easily to friends or family. At Freedom First in Salem, VA, we believe in making banking accessible and straightforward for everyone. Whether you're visiting us at our branch or using our digital services from home, we're committed to serving you with excellence. Ready to explore what we can do for you? Call us at 540-389-0244 or visit our website at Freedom First for more information on how we can assist you with all your financial needs!

Loans for Every Need

Whether you're looking to buy a new car or refinance your home, our Auto Loans & Vehicle Financing make it easy to get behind the wheel without breaking the bank. If you're considering buying a home, our Mortgage Loans & Refinancing options will help you navigate the process smoothly. For those unexpected expenses or consolidating debt, our Personal Loans & Debt Consolidation services provide flexible solutions tailored just for you.

Personal Banking

Managing your money shouldn't be complicated. At Freedom First, we offer Personal Banking services including checking and savings accounts designed for everyday needs. Imagine having easy access to your funds with our online and mobile banking options. You can check balances, transfer money, and pay bills from anywhere right from your smartphone!

Digital & Online Banking

At Freedom First, we understand that convenience and security are key to your banking experience. That's why we offer a range of digital and online banking services designed to make managing your finances easier than ever. With our services, you can access your accounts anytime, anywhere, ensuring that you stay in control of your money. One of the standout features is our 24/7 Online Banking service. Just visit https://www.freedomfirst.com/ to log in and view your account balance, transfer funds, or pay bills at your convenience. Say goodbye to long lines and hello to real-time account management right from your device! Our mobile application enhances this experience even further, allowing you to bank on-the-go. Whether you're shopping or traveling, you can use Mobile Payments to make secure transactions with just a few taps on your phone. Plus, our Person-to-Person Transfers feature lets you send money quickly and easily to friends or family perfect for splitting bills or sending gifts. For those who prefer going paperless, we provide E-Statements as well. You can view your statements digitally whenever you need them, reducing clutter and making it easier to keep track of your finances. And with our Electronic Signature Authorization, signing documents has never been simpler or more secure. Your security is our priority. Our online banking platform uses advanced encryption technology to protect your information, so you can bank with peace of mind. At Freedom First, we're committed to making banking accessible and straightforward for all our members. Dive into the world of digital banking today and explore how these features can simplify your financial life!

Financial Strength

A Solid Foundation

With a net worth of $112,468,858, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of 967 demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Commitment to Excellence

Our operational efficiency is reflected in our net income of $0, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 219 full-time employees and 2 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable and committed team.

Community Engagement

With a total of 106,752 share accounts, we showcase a strong and growing member base that trusts us with their finances. Our commitment to serving the community is evident not only through our robust offerings but also through our personal touch as your local credit union. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Freedom First is your trusted partner. Visit us at 1235 Electric Rd Salem Va 24153 or call 540-389-0244 to learn more about how we can help you achieve your financial goals.

Investment in Growth

With $85,004,767 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our lending capacity supports your financial goals across various sectors with $84,416 in used auto loans and $990,578,306 in total loans and leases.

Member-Centric Savings

Members' savings are secured through $161,407,250 in share certificates and $311,365,983 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $58,360,552, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry. We currently have $134,319,351 in used vehicle loans and $37,496,608 in new vehicle loans already helping members get on the road. With our financing options, driving your desired vehicle becomes more accessible than ever.

Business Financing

For business owners, our outstanding commercial loans totaling $490,850,324 provide the capital needed to grow and expand your operations. We understand that businesses require support at every stage and are here to help you thrive.

Mortgage Loans

Thinking about homeownership? Our mortgage options include Junior Lien 1-4 Family Residential Properties loans totaling $50,133,916, making buying or refinancing simple. We work with you to find terms that fit your budget and lifestyle.

Refinancing Options

If you're considering refinancing any existing loans or exploring eligibility options for our products, please don't hesitate to reach out. Our team is ready to assist you in finding solutions that make sense for your financial situation. Our friendly staff is available at (540) 389-0244 during our operating hours Monday through Friday from 9 AM to 5 PM and Saturday from 9 AM to 12 PM to answer any questions you may have about our loan offerings. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov , based on the latest results. Visit us today or explore more about our offerings online at Freedom First. Let us help you take the next step toward achieving your financial aspirations!

Unsecured Credit Cards

We also offer flexible terms on unsecured credit card loans, with a total of $14,017,837 in loans helping members manage their finances effectively. These cards come with various benefits and can be an excellent way to handle everyday expenses without the burden of high-interest rates.

Loan Aggregator

How LendMesh Ensures Accurate Loan Comparisons

Loan data on LendMesh is sourced directly from banks and credit unions that comply with National Credit Union Administration (NCUA) lending standards, based on the latest results (Source: https://www.ncua.gov ). This ensures that users receive fair and transparent offers, eliminating the guesswork often associated with comparing loans. LendMesh stands out for several reasons: - Verified Data: Loan offers are sourced from legitimate financial institutions, ensuring transparency. Users can trust that they are comparing accurate information without hidden agendas. - No Sponsored Listings: LendMesh does not prioritize lenders based on paid promotions our goal is to provide unbiased results. This means users see genuine options tailored to their needs rather than those influenced by advertising budgets. - Real-Time Rate Comparisons: Up-to-date loan rates from multiple institutions allow users to make informed decisions quickly. Whether looking for a mortgage or an auto loan, the most current information is always at their fingertips. Thousands of users trust LendMesh for loan comparisons. One member shared, "LendMesh helped me find a lower mortgage rate in minutes, saving me thousands over the loan term!" This feedback highlights the tool's effectiveness in finding better financial solutions. Compare real-time loan offers today at LendMesh and find the best rates for your needs. Disclaimer: Loan approvals and interest rates are subject to creditworthiness, income verification, and applicable federal and state regulations. Rates may vary based on financial institution guidelines.

FREEDOM FIRST FEDERAL CREDIT UNION - Salem, VA