Freedom Credit Union

Freedom Credit Union

Member-owned financial cooperative providing banking services

Overview

Freedom Credit Union is a member-owned, not-for-profit financial cooperative serving individuals and businesses in western Massachusetts. It offers personal banking products (checking, savings, money market, CDs), a range of loans (mortgages, home equity, auto, personal) and business banking services (business checking/savings, commercial real estate loans, and other financing). The credit union operates through branch locations and online/mobile banking. Unlike traditional for-profit banks, its earnings are returned to members as lower loan rates, higher savings rates, and fewer fees, reflecting its cooperative ownership structure. Its goal is to provide affordable, accessible financial services that meet the needs of its members while maintaining local control.

About Freedom Credit Union

Simplify's Rating
Why Freedom Credit Union is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Financial Services

Company Size

N/A

Company Stage

N/A

Total Funding

N/A

Headquarters

Springfield, Massachusetts

Founded

1994

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Simplify's Take

What believers are saying

  • 2025 assets grew 17.6%, signaling strong balance-sheet momentum.
  • Freedom funded 3,095 loans and welcomed 2,951 new members in 2025.
  • 2026 certificate specials and scholarships support low-cost deposit growth and member retention.

What critics are saying

  • Atlantic Financial integration adds 8,389 members and systems risk through 2026.
  • Cybersecurity exposure stays acute despite Jason Cutroni's 2026 security hire.
  • Western Massachusetts concentration leaves lending and deposits tied to one regional economy.

What makes Freedom Credit Union unique

  • Member-owned western Massachusetts cooperative returned $2.1 million net income in 2025.
  • Assets reached $557.4 million and deposits hit $496.8 million in 2025.
  • Nine branches plus online banking give local access across western Massachusetts.

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Benefits

Health Insurance

401(k) Retirement Plan

Paid Vacation

Company News

BusinessWest
Jul 17th, 2026
Freedom Credit Union strengthens IT team with new hire, promotions.

Freedom Credit Union strengthens IT team with new hire, promotions. SPRINGFIELD - Freedom Credit Union has announced several updates within its Information Technology department, including the hiring of Jason Cutroni as assistant vice president, information security officer, and the promotions of Eugene Marceau Jr. to information technology officer and Luke Sopet to network administrator. "Investing in talented technology professionals is essential to protecting our members, supporting our employees, and positioning Freedom Credit Union for continued growth," said Glenn Welch, president and CEO of Freedom Credit Union. "Jason brings valuable experience in information security, and Gene and Luke have consistently demonstrated the expertise and leadership that make them deserving of these promotions." As assistant vice president, information security officer, Cutroni leads the credit union's information security program, overseeing cybersecurity risk management, incident response, vendor risk, and business continuity planning. Before joining Freedom Credit Union, he managed business continuity, disaster recovery, and physical security programs for Workers Federal Credit Union. Marceau was promoted after 13 years as network administrator. In his new role, he oversees the information technology department, leading staff development, project management, and the implementation of technology initiatives across the organization. Sopet, who joined Freedom Credit Union three years ago as a computer network technician, now serves as network administrator, where he manages the organization's network infrastructure and helps ensure the performance and security of its systems. "Jason, Gene, and Luke each bring unique strengths to our organization, and we're excited to see the impact they will have as we continue to enhance the technology and security that support our members every day," Welch said.

Freedom Credit Union
Jul 16th, 2026
Freedom Credit Union strengthens information technology department with new hire and promotions.

Freedom Credit Union strengthens information technology department with new hire and promotions. July 16, 2026 Freedom Credit Union has announced several updates within its Information Technology department, including the hiring of Jason Cutroni as assistant vice president, information security officer, and the promotions of Eugene Marceau Jr. to information technology officer and Luke Sopet to network administrator. "Investing in talented technology professionals is essential to protecting our members, supporting our employees and positioning Freedom Credit Union for continued growth," said Glenn Welch, president and CEO of Freedom Credit Union. "Jason brings valuable experience in information security, and Gene and Luke have consistently demonstrated the expertise and leadership that make them deserving of these promotions." As assistant vice president, information security officer, Cutroni leads the credit union's information security program, overseeing cybersecurity risk management, incident response, vendor risk and business continuity planning. Before joining Freedom Credit Union, he managed business continuity, disaster recovery and physical security programs for Workers Federal Credit Union. Marceau was promoted after 13 years as network administrator. In his new role, he oversees the information technology department, leading staff development, project management and the implementation of technology initiatives across the organization. Sopet, who joined Freedom Credit Union three years ago as a computer network technician, now serves as network administrator, where he manages the organization's network infrastructure and helps ensure the performance and security of its systems. "Jason, Gene and Luke each bring unique strengths to our organization, and we're excited to see the impact they will have as we continue to enhance the technology and security that support our members every day," Welch said.

BusinessWest
Mar 18th, 2026
Freedom Credit Union names Debbie DePaola West Springfield branch officer.

Freedom Credit Union names Debbie DePaola West Springfield branch officer. SPRINGFIELD - Freedom Credit Union announced that Debbie DePaola has been appointed branch officer for its West Springfield location. DePaola joined Freedom in 2023 as an assistant branch manager, bringing more than a decade of experience in the banking industry. In her new role, she leads the daily operations of the branch with a focus on service, efficiency, and member satisfaction. She oversees branch performance, coaches and develops staff, ensures regulatory and compliance standards are consistently met, and supports business development and community relations efforts throughout the region. A graduate of the College of Central Florida with an associate degree in business administration, DePaola has been recognized for her dedication, leadership, and commitment to Freedom's mission. In 2025, she received the Freedom Credit Union President's Award. "I am excited to take on this new role at the West Springfield branch," she said. "My focus will be on delivering exceptional service to our members, supporting our team, and strengthening our connections within the community." Glenn Welch, president of Freedom Credit Union, added that "Debbie's leadership, experience, and dedication to our members make her the perfect fit for this role. We are confident she will continue to elevate the branch and provide outstanding service to the West Springfield community."

Freedom Credit Union
Sep 3rd, 2025
Freedom Credit Union collecting donations for Alzheimer's Association

For September, Freedom is proud to partner with the Alzheimer's Association to raise awareness and funds through its participation in the local Walk to End Alzheimer's on Sunday, October 26 at Holyoke Community College.

Freedom Credit Union
Aug 25th, 2025
Freedom Credit Union welcomes Richard Merrifield Jr. as branch officer in Ludlow

Freedom Credit Union is pleased to announce that Richard Merrifield Jr. has joined its Ludlow branch as Branch Officer, where he leads a dedicated team focused on delivering exceptional service and personalized financial solutions for members.

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