Credit union · NCUA insured
Freedom Credit Union
A $757.4M credit union headquartered in Springfield, MA, with 31,707 members and 9 branches in Massachusetts. Best rates: CDs 4.50% and savings 1.45% APY.
Freedom Credit Union Carrot Score
86
Carrot Score
Higher than 74% of U.S. banks and credit unions
#5 of 22 in Springfield, MA metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Freedom Credit Union
Freedom Credit Union was chartered in 1922 as Western Massachusetts Telephone Workers Credit Union and is headquartered in Springfield, Massachusetts.
The credit union merged with Monarch Credit Union in 1987, adopted the Freedom Credit Union name in 2004, and merged with West Springfield Federal Credit Union in 2019.
It serves members across Hampden, Hampshire, Franklin, and Berkshire counties in Massachusetts, as well as Hartford and Tolland counties in Connecticut.
- Headquarters
- 1976 Main St, Springfield, MA 01103-1010
- NCUA charter
- 66824
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Where you live or work
- Membership is open to anyone who lives, works, or attends school in Hampden, Hampshire, Franklin, or Berkshire counties in Massachusetts, or Hartford or Tolland counties in Connecticut.
Family and household
- Family members of an existing member are eligible to join regardless of where they live or work.
Cost to join
- Membership requires a $5 deposit into a Share Savings Account.
Branches
9 branches in Massachusetts
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Massachusetts
9 branches
Springfield area · 6
- Springfield-Main OfficeMain office1976 Main St, Springfield, MA 01103Directions
- Chicopee1976 Memorial Dr, Chicopee, MA 01020Directions
- Feeding Hills959 Springfield St, Feeding Hills, MA 01030Directions
- Ludlow645 Center St, Ludlow, MA 01056Directions
- Cooley Street296 Cooley St, Springfield, MA 01128Directions
- West Springfield58 Union St, West Springfield, MA 01089Directions
Greenfield area · 2
- Greenfield74 Main St, Greenfield, MA 01301Directions
- Turners Ave A191 Ave A, Turners Falls, MA 01376Directions
Amherst Town area · 1
- Northampton226 King St, Northampton, MA 01060Directions
Walk-in offices from the NCUA directory as of March 31, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 14.26% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 1.81% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 0.58% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $85 | $76 | — |
- CapitalNet worth ratio14.26%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late1.81%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets0.58%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$85Peers’ middle $76
Compared with the 1,338 credit unions with $100 million to $1 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are loans 60 or more days late.
Regulators’ own ratings of Freedom Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.