How is a credit union different from a bank?
A credit union is a cooperative financial institution owned by its depositors. As a not-for-profit organization, Freedom Credit Union returns its profits to its membership in the form of high rates on deposit accounts, low rates on loans, and low or no fees for its services. As a credit union member you have a say in how the credit union is run. You can vote for Board of Directors at the Annual Meeting held every April and you can even run for a position on the Board.
Who is eligible for membership?
Anyone who lives, works, or attends a college/university in Hampden, Hampshire, Franklin, or Berkshire County may join Freedom Credit Union. Also, any relative of an existing member may also join, regardless of where he or she lives or works.
How old do you have to be to join?
There is no minimum age for membership. Ask a Member Service Representative about Baby Accounts and Youth Accounts. It's never too soon to start saving money!
As a credit union member, am I guaranteed to get a loan?
Our credit decisions are based on your income and your ability to pay. We look at every application, so you will always be treated as an individual, not a number on a credit report. If you have extenuating circumstances, let us know. We work with our members to give them the loans they need and help them establish good borrowing habits.