Merger Will Enhance Consumer and Business Banking Services, Expand Community Reach, and Strengthen Financial Stability
Freedom Federal Credit Union and Atlantic Financial Federal Credit Union are excited to announce their plans to merge pending regulatory approval and Atlantic Financial FCU member vote. The combined organization will offer expanded consumer and business banking products and greater convenience, flexibility, and access for all Atlantic Financial FCU members. The resulting Credit Union will operate under the “Freedom Federal Credit Union” name and brand.
While the combined assets would be approximately $535 million, the Boards and Leadership of both Credit Unions are most passionate about the opportunity to serve a combined membership of over 42,000. The merger will provide greater branch convenience with the addition of two Atlantic Financial FCU branches to the six existing Freedom FCU branches and over 80,000 surcharge-free ATMs through their ATM network. The resulting Credit Union will have eight physical branches in all.
“Atlantic Financial FCU has a long and respected tradition of providing exceptional service to our members in the Baltimore City, Baltimore County, Carroll County, and Harford County communities,” stated Matt Piazza, President and CEO of Atlantic Financial FCU. “I have seen this Credit Union grow from a small organization, established in 1950, to a $103 million asset institution that is well-known and highly regarded. The merger with Freedom FCU is the next evolution in that growth and will provide our members a wider range of financial products and services, enhanced digital banking solutions, competitive loan options, and personalized wealth management services that members have been wanting. I am also pleased we will be joining with an organization that also has deep roots in many of the same communities as we do.”
“We believe in people before profits and that everything we do, first and foremost, ensures the financial well-being of our members,” stated Mike MacPherson, President and CEO of Freedom FCU. “We will be able to offer a holistic banking experience for all members, as well as provide our unique service differentiation that we like to call ‘The Freedom Advantage.’ Additionally, we believe that, together, we can achieve greater success and make a more significant impact on the lives of our members and the communities that we serve. Through this merger, we can combine our strengths and position our Credit Union toward sustained growth and long-term success. I am very excited to have the opportunity to welcome Atlantic Financial FCU’s members and employees to Freedom.”
With regulatory and member approval, the intended merger is expected to be completed before the end of 2024. Instructions and procedures for Atlantic Financial FCU member approval voting will be announced in the near future.
About Freedom Federal Credit Union:
Freedom Federal Credit Union is a community-chartered federal credit union offering consumer financial services to those who live, work, volunteer, worship, attend school, or have family in Harford or Baltimore Counties. Additionally, Freedom offers a full-line of banking services for all businesses, associations, and other organizations that are based in Harford or Baltimore Counties. Freedom was founded in 1953 and has six locations throughout Harford and Baltimore Counties. To learn more, visit www.freedomfcu.org.
About Atlantic Financial Federal Credit Union:
Atlantic Financial Federal Credit Union is a community-chartered federal credit union offering consumer financial services to those who live, work, volunteer, worship, attend school, or have family in Carroll, Baltimore or Harford Counties or Baltimore City. Our purpose is simple – to serve and enrich our members lives. We make your financial well-being our personal priority. We believe in keeping banking simple, while delivering financial products and services that empower you to achieve your goals and long-term financial stability. We’re committed to delivering a banking experience that revolves around you. To learn more, visit www.affcu.org.
