Freedom Credit Union

Springfield, MA
Tax-exempt since Sept. 1934
EIN: 04-1961180

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Type of Nonprofit

Designated as a 501(c)14 State-chartered credit unions and mutual reserve funds.

Donations to this organization are not tax deductible.

Details

According to its Dec. 2023 tax filing, this nonprofit:

Reported conflict of interest transactions

Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Revenue

$34.5M (2023)

Expenses

$30.5M (2023)

Total Assets

$738M (2023)

Total Liabilities

$652M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$34,489,002

Expenses

$30,493,956

Net Income

$3,995,046

Net Assets

$86,489,970

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$28,089,535	81.4%
Investment Income	$5,366,005	15.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,033,462	3.0%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,866,628	9.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,443,924	17.9%

Assets/Debt
Total Assets	$738,359,654
Total Liabilities	$651,869,684
Net Assets	$86,489,970

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Glenn Welch (President)	$447,141	$0	$31,171
Louis Scungio (Chief Financial Officer)	$220,337	$0	$42,773
Jeffrey Smith (Vice President Of Lending)	$185,707	$0	$30,970
David Chase (Vice President Of Business)	$184,420	$0	$37,649
Gina Noblit (Director Of Human Resource)	$168,462	$0	$24,265
Cheryl Podgorski (Vp Operations)	$161,400	$0	$16,094
Kara Herman (Vice President Of Retail A)	$160,261	$0	$29,826
Allen Reed (Information Security Officer)	$133,829	$0	$32,550
Lisa Mish (Senior Mortgage Loan Originator)	$133,644	$0	$15,726
Jack Vadnais (Director Of Financial Pla)	$125,850	$0	$34,888
John Santaniello (Assistant Vice President)	$122,218	$0	$4,162
Charlene Smolkowicz (Manager)	$113,468	$0	$14,160
Pamela Patenaude (Mortgage Loan Originator)	$108,873	$0	$34,863
Joanne Page (Manager)	$107,263	$0	$21,528
Andrew Sullivan (Assistant Vice President)	$106,882	$0	$12,245
Donald C Emerson (Director)	$2,241	$0	$0
William G O'brien (Director)	$901	$0	$0
John R Reigner (Director)	$861	$0	$0
Louis G Guillette (Chairperson/Director)	$0	$0	$0
William T Carey (Vice Chairperson/Director)	$0	$0	$0
Lawrence F Bouley (Director)	$0	$0	$0
Brian D Harrington (Treasurer/Director)	$0	$0	$0
Felix Santaniello (Director)	$0	$0	$0
Donald R Senecal (Director)	$0	$0	$0
William Flaherty (Secretary/Director)	$0	$0	$0
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990

Filed on May 13, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$26,913,534

Expenses

$23,288,605

Net Income

$3,624,929

Net Assets

$80,815,490

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$23,509,643	87.4%
Investment Income	$3,487,750	13.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$83,859
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,094,216	9.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,456,040	23.4%

Assets/Debt
Total Assets	$699,366,789
Total Liabilities	$618,551,299
Net Assets	$80,815,490

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Glenn Welch (President)	$346,731	$0	$27,238
Louis Scungio (Chief Financial Officer)	$187,978	$0	$40,720
Jeffrey Smith (Vice President Of Lending)	$158,956	$0	$26,117
David Chase (Vice President Of Business)	$158,403	$0	$31,157
Gina Noblit (Director Of Human Resource)	$144,160	$0	$24,444
Cheryl Podgorski (Vp Operations)	$138,121	$0	$14,124
Kara Herman (Vice President Of Retail A)	$137,685	$0	$26,139
John R Reigner (Director/Security Officer)	$4,222	$0	$0
Donald C Emerson (Chairman)	$2,617	$0	$0
Daniel Reigner (Director)	$2,395	$0	$0
William T Carey (Treasurer)	$1,589	$0	$0
Lawrence F Bouley (Director)	$1,541	$0	$0
William Flaherty (Director)	$1,396	$0	$0
Louis G Guillette (Vice Chairman)	$1,216	$0	$0
William G O'brien (Director)	$1,063	$0	$0
Brian D Harrington (Director)	$0	$0	$0
Felix Santaniello (Director)	$0	$0	$0
Donald R Senecal (Director)	$0	$0	$0

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990

Filed on Nov. 9, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$26,093,008

Expenses

$21,788,261

Net Income

$4,304,747

Net Assets

$90,213,653

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$22,255,554	85.3%
Investment Income	$2,856,977	10.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$980,477	3.8%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,517,061	7.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,787,762	26.6%

Assets/Debt
Total Assets	$649,826,140
Total Liabilities	$559,612,487
Net Assets	$90,213,653

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Glenn Welch (President)	$401,091	$0	$27,761
Louis Scungio (Chief Financial Officer)	$195,638	$0	$42,327
Jeffrey Smith (Vice President Of Lending)	$160,294	$0	$24,609
David Chase (Vice President Of Business)	$148,456	$0	$30,128
Lisa Mish (Mortgage Loan Officer)	$140,964	$0	$13,659
Kara Herman (Vice President Of Retail A)	$137,077	$0	$24,460
Gina Noblit (Director Of Human Resource)	$135,672	$0	$22,762
Louis G Guillette (Vice Chairman)	$2,439	$0	$0
Brian D Harrington (Director)	$2,138	$0	$0
Donald C Emerson (Chairman)	$2,115	$0	$0
Lawrence F Bouley (Director)	$1,453	$0	$0
William G O'brien (Director)	$1,413	$0	$0
John R Reigner (Director/Security Officer)	$1,375	$0	$0
Felix Santaniello (Director)	$1,230	$0	$0
William T Carey (Treasurer)	$0	$0	$0
Donald R Senecal (Director)	$0	$0	$0
William Flaherty (Director)	$0	$0	$0

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990

Filed on Nov. 11, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$23,759,359

Expenses

$23,151,492

Net Income

$607,867

Net Assets

$87,611,288

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$21,065,830	88.7%
Investment Income	$2,440,458	10.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$253,071	1.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,136,499	9.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,686,473	24.6%

Assets/Debt
Total Assets	$593,605,651
Total Liabilities	$505,994,363
Net Assets	$87,611,288

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Glenn Welch (President)	$405,494	$0	$29,251
Louis Scungio (Chief Financial Officer)	$189,462	$0	$42,449
Jeffrey Smith (Vice President Of Lending)	$151,862	$0	$24,389
Lisa Mish (Mortgage Loan Officer)	$137,964	$0	$13,618
David Chase (Vice President Of Business)	$137,082	$0	$28,997
Michael Johnson (Associate Director Of Investment Services)	$133,023	$0	$16,342
Cheryl Podgorski (Vice President Of Operatio)	$130,350	$0	$12,433
Kara Herman (Vice President Of Retail A)	$130,265	$0	$24,193
Gina Noblit (Director Of Human Resource)	$123,845	$0	$22,396
Allen Reed (Avp It Administrator)	$113,559	$0	$29,524
Viktorija Randall (Mortgage Loan Officer)	$106,989	$0	$16,338
Andrew Sullivan (Commercial Lending Officer)	$102,638	$0	$8,571
Donald C Emerson (Chairman)	$1,804	$0	$0
John R Reigner (Director/Security Officer)	$1,500	$0	$0
Louis G Guillette (Vice Chairman)	$1,032	$0	$0
Felix Santaniello (Director)	$672	$0	$0
William G O'brien (Director)	$402	$0	$0
Lawrence F Bouley (Chairman Director)	$56	$0	$0
William T Carey (Treasurer)	$0	$0	$0
Richard T Grover (Director)	$0	$0	$0
Brian D Harrington (Director)	$0	$0	$0
Donald R Senecal (Director)	$0	$0	$0
William Flaherty (Director)	$0	$0	$0

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990

Filed on Nov. 15, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$24,911,225

Expenses

$22,038,112

Net Income

$2,873,113

Net Assets

$85,878,807

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$21,581,792	86.6%
Investment Income	$2,935,566	11.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$320,146	1.3%
Net Inventory Sales	$0
Other Revenue	$73,721	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,559,290	7.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$6,108,991	27.7%

Assets/Debt
Total Assets	$496,730,711
Total Liabilities	$410,851,904
Net Assets	$85,878,807

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Glenn Welch (President)	$394,907	$0	$27,638
Louis Scungio (Chief Financial Officer)	$181,746	$0	$40,426
Jeffrey Smith (Vice President Of Lending)	$141,905	$0	$22,787
David Chase (Vice President Of Business)	$138,261	$0	$27,084
Kara Herman (Vice President Of Retail A)	$122,744	$0	$22,387
Cheryl Podgorski (Vice President Of Operatio)	$122,277	$0	$11,520
Lisa Mish (Mortgage Loan Officer)	$114,623	$0	$11,795
Gina Noblit (Director Of Human Resource)	$111,914	$0	$20,670
Allen Reed (Avp It Administrator)	$106,482	$0	$25,063
Viktorija Randall (Mortgage Loan Officer)	$104,917	$0	$4,310
John R Reigner (Director/Security Officer)	$3,695	$0	$0
Louis G Guillette (Vice Chairman)	$3,407	$0	$0
Donald C Emerson (Chairman)	$3,104	$0	$0
William T Carey (Treasurer)	$2,996	$0	$0
William G O'brien (Director)	$2,196	$0	$0
Lawrence F Bouley (Chairman Director)	$2,059	$0	$0
Richard T Grover (Director)	$1,089	$0	$0
Felix Santaniello (Director)	$643	$0	$0
Brian D Harrington (Director)	$639	$0	$0
Donald R Senecal (Director)	$0	$0	$0
Charles J Simonich (Director)	$0	$0	$0
William Flaherty (Director)	$0	$0	$0

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990

Filed on Nov. 12, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$23,161,113

Expenses

$19,037,422

Net Income

$4,123,691

Net Assets

$79,138,005

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$19,458,463	84.0%
Investment Income	$3,422,649	14.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$50,111
Net Inventory Sales	$0
Other Revenue	$330,112	1.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,429,280	7.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,323,503	28.0%

Assets/Debt
Total Assets	$477,578,497
Total Liabilities	$398,440,492
Net Assets	$79,138,005

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Glenn Welch (President)	$340,094	$0	$27,876
Louis Scungio (Chief Financial Officer)	$328,762	$0	$38,086
David Chase (Vice President Of Business)	$141,562	$0	$24,722
Jeffrey Smith (Vice President Of Lending)	$138,654	$0	$25,537
Kara Herman (Vice President Of Retail A)	$121,210	$0	$23,742
Cheryl Podgorski (Vice President Of Operatio)	$120,904	$0	$11,077
Lisa Mish (Mortgage Loan Officer)	$112,008	$0	$8,433
Gina Noblit (Director Of Human Resources)	$103,873	$0	$14,822
John R Reigner (Director/Security Officer)	$4,151	$0	$0
William G O'brien (Director)	$4,025	$0	$0
William T Carey (Treasurer)	$3,122	$0	$0
Louis G Guillette (Vice Chairman)	$2,768	$0	$0
Donald C Emerson (Chairman)	$2,552	$0	$0
Lawrence F Bouley (Chairman Director)	$2,415	$0	$0
Richard T Grover (Director)	$1,110	$0	$0
Brian D Harrington (Director)	$851	$0	$0
Felix Santaniello (Director)	$630	$0	$0
Charles J Simonich (Director)	$589	$0	$0
Donald R Senecal (Director)	$0	$0	$0

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990

Filed on Nov. 15, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$21,706,429

Expenses

$17,807,873

Net Income

$3,898,556

Net Assets

$75,634,018

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$18,608,563	85.7%
Investment Income	$3,100,962	14.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$7,600	0.0%
Net Fundraising	$0
Sales of Assets	-$10,696
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$976,520	5.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,809,422	32.6%

Assets/Debt
Total Assets	$484,378,649
Total Liabilities	$408,744,631
Net Assets	$75,634,018

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Glenn Welch (President)	$307,207	$0	$29,523
Louis Scungio (Chief Financial Officer)	$164,402	$0	$52,890
David Chase (Vice President Of Business Lending)	$133,974	$0	$16,014
Jeffrey Smith (Vice President Of Lending)	$126,956	$0	$24,919
Kara Herman (Vice President Of Retail Admin)	$110,184	$0	$20,605
Cheryl Podgorski (Vice President Of Operations)	$106,081	$0	$8,921
Viktorija Randall (Mortgage Loan Officer)	$104,205	$0	$29,002
Lawrence F Bouley (Chairman)	$3,801	$0	$0
John R Reigner (Director)	$3,247	$0	$0
Donald C Emerson (Vice Chairman)	$3,190	$0	$0
William T Carey (Director)	$3,171	$0	$0
William G O'brien (Director)	$2,815	$0	$0
Felix Santaniello (Director)	$1,594	$0	$0
Louis G Guillette (Treasurer)	$1,016	$0	$0
Brian D Harrington (Director)	$808	$0	$0
Richard T Grover (Director)	$0	$0	$0
Donald R Senecal (Director)	$0	$0	$0
Charles J Simonich (Director)	$0	$0	$0

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990

Filed on Oct. 24, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$21,351,115

Expenses

$18,979,860

Net Income

$2,371,255

Net Assets

$71,259,512

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$18,284,269	85.6%
Investment Income	$2,685,653	12.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$23,882	0.1%
Net Fundraising	$0
Sales of Assets	$357,311	1.7%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$924,517	4.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,835,940	30.7%

Assets/Debt
Total Assets	$489,855,221
Total Liabilities	$418,595,709
Net Assets	$71,259,512

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Glenn Welch (President)	$290,872	$0	$15,402
Louis Scungio (Cfo)	$160,095	$0	$56,382
David Chase (Vp Member Business Lending)	$126,597	$0	$21,878
Jeffrey Smith (Vp Lending)	$122,130	$0	$28,129
Kara Herman (Vp Retail Admin)	$106,038	$0	$22,347
Cheryl Podgorski (Vp Operations)	$100,035	$0	$10,182
John Reigner (Director/Security)	$3,272	$0	$0
William Carey (Director)	$2,785	$0	$0
Donald Emerson (Vice Chair)	$2,611	$0	$0
William O'brien (Director)	$2,537	$0	$0
Lawrence Bouley (Chairman)	$2,439	$0	$0
Charles Simonich (Director)	$1,774	$0	$0
Richard Grover (Director)	$1,633	$0	$0
Brian Harrington (Director)	$1,038	$0	$0
F Rory Santaniello (Director)	$595	$0	$0
Louis Guillette (Treasurer)	$65	$0	$0
Donald Senecal (Director)	$0	$0	$0

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990

Filed on Oct. 2, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$21,217,100

Expenses

$19,909,952

Net Income

$1,307,148

Net Assets

$69,797,398

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$16,932,156	79.8%
Investment Income	$3,587,109	16.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$16,751	0.1%
Net Fundraising	$0
Sales of Assets	$681,084	3.2%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$996,235	5.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,527,303	27.8%

Assets/Debt
Total Assets	$531,804,006
Total Liabilities	$462,006,608
Net Assets	$69,797,398

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Barry Crosby (President)	$274,897	$0	$52,608
Louis Scungio (Cfo)	$162,793	$0	$57,018
Jeffrey Smith (Vp Lending)	$123,866	$0	$28,526
Kara Herman (Vp Retail Admin)	$107,768	$0	$21,911
Patricia Carbee (Vp Erm)	$106,831	$0	$18,110
Cheryl Podgorski (Vp Operations)	$101,688	$0	$9,825
Karen Katsanos (Vp Director Of Hr)	$98,838	$0	$18,530
John Reigner (Director)	$3,211	$0	$0
Donald Emerson (Treasurer/Security Officer)	$3,027	$0	$0
William Carey (Director)	$2,853	$0	$0
William O'brien (Director)	$2,825	$0	$0
Lawrence Bouley (Vice Chairman)	$2,751	$0	$0
Richard Grover (Director)	$2,045	$0	$0
Charles Simonich (Chairman)	$1,291	$0	$0
Brian Harrington (Director)	$928	$0	$0
Julie Kilbride (Director)	$447	$0	$0
Louis Guillette (Clerk/Secretary)	$176	$0	$0
F Rory Santaniello (Director)	$0	$0	$0
Donald Senecal (Director)	$0	$0	$0

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990

Filed on Nov. 5, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$20,925,571

Expenses

$19,386,350

Net Income

$1,539,221

Net Assets

$69,920,859

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$16,631,611	79.5%
Investment Income	$4,042,028	19.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$12,459	0.1%
Net Fundraising	$0
Sales of Assets	$239,473	1.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,078,600	5.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,249,234	27.1%

Assets/Debt
Total Assets	$515,296,313
Total Liabilities	$445,375,454
Net Assets	$69,920,859

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Barry Crosby (President)	$284,091	$0	$51,051
Louis Scungio (Cfo)	$243,835	$0	$54,569
Jeffrey Smith (Vp Lending)	$121,717	$0	$19,444
Patricia Carbee (Vp Erm)	$107,843	$0	$17,766
Kara Herman (Vp Retail Admin)	$106,785	$0	$21,652
Karen Katsanos (Vp Director Of Hr)	$97,885	$0	$16,138
Cheryl Podgorski (Vp Operations)	$94,405	$0	$8,769
Donald Emerson (Treasurer/Security Officer)	$4,518	$0	$0
Charles Simonich (Chairman)	$3,125	$0	$0
Richard Grover (Director)	$3,106	$0	$0
William O'brien (Director)	$3,026	$0	$0
Lawrence Bouley (Vice Chairman)	$2,907	$0	$0
Julie Kilbride (Director)	$2,268	$0	$0
John Reigner (Director)	$1,073	$0	$0
William Carey (Director)	$1,042	$0	$0
Louis Guillette (Clerk/Secretary)	$974	$0	$0
F Rory Santaniello (Director)	$0	$0	$0
Donald Senecal (Director)	$0	$0	$0

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990

Filed on Aug. 17, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$20,449,040

Expenses

$19,089,753

Net Income

$1,359,287

Net Assets

$67,117,420

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$16,433,435	80.4%
Investment Income	$3,629,067	17.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$31,055	0.2%
Net Fundraising	$0
Sales of Assets	$355,483	1.7%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$813,840	4.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,083,487	26.6%

Assets/Debt
Total Assets	$520,991,029
Total Liabilities	$453,873,609
Net Assets	$67,117,420

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Barry Crosby (President)	$319,908	$0	$45,074
Louis Scungio (Cfo)	$155,007	$0	$48,892
Gary Grodzicki (Vp Of Lending (Thru 8/2013))	$109,608	$0	$17,146
Kara Herman (Vp Retail Admin)	$97,134	$0	$18,037
Patricia Carbee (Vp Erm)	$85,058	$0	$5,378
Jeffrey Smith (Chief Lending Officer)	$32,688	$0	$1,931
Donald Emerson (Treasurer/Security Officer)	$3,813	$0	$0
Lawrence Bouley (Vice Chairman)	$2,204	$0	$0
Richard Grover (Director)	$2,171	$0	$0
William O'brien (Director)	$1,860	$0	$0
Charles Simonich (Chairman)	$1,656	$0	$0
John Reigner (Director)	$1,289	$0	$0
F Rory Santaniello (Director)	$767	$0	$0
William Carey (Director)	$677	$0	$0
Julie Kilbride (Director)	$0	$0	$0
Louis Guillette (Clerk)	$0	$0	$0
Donald Senecal (Director)	$0	$0	$0

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990

Filed on Aug. 6, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$21,717,526

Expenses

$18,424,426

Net Income

$3,293,100

Net Assets

$68,056,310

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$17,271,764	79.5%
Investment Income	$3,726,126	17.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$31,055	0.1%
Net Fundraising	$0
Sales of Assets	$688,581	3.2%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$638,925	3.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$4,271,714	23.2%

Assets/Debt
Total Assets	$517,136,522
Total Liabilities	$449,080,212
Net Assets	$68,056,310

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$21,016,397

Expenses

$17,528,822

Net Income

$3,487,575

Net Assets

$64,657,066

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$16,643,796	79.2%
Investment Income	$3,998,997	19.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$32,455	0.2%
Net Fundraising	$0
Sales of Assets	$341,149	1.6%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$449,254	2.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$3,941,786	22.5%

Assets/Debt
Total Assets	$487,302,934
Total Liabilities	$422,645,868
Net Assets	$64,657,066

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2005

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2004

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated July 11, 2024

Freedom Credit Union

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $34.5M (2023)

Expenses $30.5M (2023)

Total Assets $738M (2023)

Total Liabilities $652M (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Revenue

$34.5M (2023)

Expenses

$30.5M (2023)

Total Assets

$738M (2023)

Total Liabilities

$652M (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004