FREEDOM CREDIT UNION (EIN 041961180) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1922

Legal Domicile

Principal Officer

LEE CRAIG

Phone

4137396961

Tax Period

2025-01-01 to 2025-12-31

FREEDOM CREDIT UNION, founded in 1922, is a mid-sized nonprofit that reported $40.6M in total revenue in fiscal year 2025. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $34.8M left a modest 14% surplus.

Mission

OUR DYNAMIC, SINCERE AND HELPFUL TEAM PROVIDES MEMBERSHIP VALUE TO INDIVIDUALS AND BUSINESSES WHILE MANAGING A STABLE, COMMUNITY-MINDED FINANCIAL INSTITUTION

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $33,009,693

Investment Income $7,584,370

Other Revenue $0

TOTAL REVENUE $40,594,063

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,499,697

Fundraising Expenses $0

Other Expenses $24,309,265

TOTAL EXPENSES $34,808,962

Year-over-Year Comparison

	2025	2024	Change
Revenue	$40,594,063	$37,579,493	+0.1%
Expenses	$34,808,962	$35,043,719	0.0%
Net Income	$5,785,101	$2,535,774	+1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

159

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$718,347

Total Directors

$3,005

Key Employees

$909,157

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONALD C EMERSON	DIRECTOR	5.00	Director	$3,005	$0	$3,005
LOUIS G GUILLETTE	DIRECTOR	10.00	Officer Director	$0	$0	$0
WILLIAM G O'BRIEN	DIRECTOR	5.00	Director	$0	$0	$0
WILLIAM T CAREY	CHAIRPERSON/DIRECTOR	5.00	Officer Director	$0	$0	$0
LAWRENCE F BOULEY	DIRECTOR	5.00	Director	$0	$0	$0
BRIAN D HARRINGTON	VICE CHAIRPERSON/DIRECTOR	5.00	Officer Director	$0	$0	$0
DONALD R SENECAL	DIRECTOR	5.00	Director	$0	$0	$0
WILLIAM FLAHERTY	SECRETARY/TREASURER/DIRECTOR	5.00	Officer Director	$0	$0	$0
DANIEL REIGNER	DIRECTOR	5.00	Director	$0	$0	$0
RONDEAU NICOLE	DIRECTOR	5.00	Director	$0	$0	$0
MARK WAYNE	DIRECTOR	5.00	Director	$0	$0	$0
GLENN WELCH	PRESIDENT	45.00	Officer	$413,475	$37,096	$450,571
LEE CRAIG	CHIEF FINANCIAL OFFICER	45.00	Officer	$238,537	$29,239	$267,776
JEFFREY SMITH	VICE PRESIDENT OF LENDING	45.00	Key Emp	$197,100	$41,454	$238,554
KARA HERMAN	VICE PRESIDENT OF RETAIL A	45.00	Key Emp	$180,036	$41,088	$221,124
DAVID CHASE	VICE PRESIDENT OF BUSINESS	45.00	Key Emp	$178,806	$60,619	$239,425
CHERYL PODGORSKI	VP OPERATIONS	45.00	Key Emp	$181,483	$28,571	$210,054
GINA NOBLIT	DIRECTOR OF HUMAN RESOURCE	45.00	Highest	$184,067	$35,905	$219,972
JACK VADNAIS	DIRECTOR OF FINANCIAL PLA	45.00	Highest	$176,517	$63,868	$240,385
ALLEN REED	INFORMATION SECURITY OFFIC	45.00	Highest	$141,589	$43,798	$185,387
MOLLY K TERPOA	ACCOUNTING MANAGER	45.00	Highest	$107,464	$61,445	$168,909
EUGENE MARCEAU JR	IT ADMIN	45.00	Highest	$100,760	$78,811	$179,571

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$40,594,063	$34,808,962	$751,618,910	$5,785,101
2024	$37,579,493	$35,043,719	$733,888,562	$2,535,774
2023	$34,489,002	$30,493,956	$738,359,654	$3,995,046
2022	$26,913,534	$23,288,605	$699,366,789	$3,624,929
2021	$26,093,008	$21,788,261	$649,826,140	$4,304,747
2020	$23,759,359	$23,151,492	$593,605,651	$607,867
2019	$24,911,225	$22,038,112	$496,730,711	$2,873,113
2018	$23,161,113	$19,037,422	$477,578,497	$4,123,691

FREEDOM CREDIT UNION