Member Spotlight: Freedom First’s Community Impact 

Freedom First Credit Union is driving positive change through innovative financial wellness programs and community initiatives. From offering no-cost financial counseling to combating the affordable housing crisis, their commitment to enriching lives and fostering economic vitality sets a benchmark for community-focused financial services.

Impactful Programs: Fostering Financial Wellness

The Financial Empowerment Center in Roanoke is where Freedom First makes a direct impact, offering no-cost financial counseling.  The FEC team assists with money management, budgeting, reducing debt, and improving credit, providing community members with invaluable tools to support their financial well-being. Additionally, with the launch of Freedom First Gives, the credit union has streamlined its giving program, actively enhancing the impact and intentionality of community support through donations.

Furthermore, Freedom First actively combats the affordable housing crisis with down payment assistance and innovative financial products, like Land Trust financing, which significantly lowers housing costs. They collaborate with a range of partners, including the Roanoke Regional Housing Network and Lynchburg’s Community Action Group, to dismantle housing barriers effectively. In Lynchburg, their efforts have intensified through strategic alliances with local non-profits, broadening support in underserved areas and ensuring community-specific needs are met. 

Measuring Success: Impact through Targeted Lending

Freedom First measures its success through its CDFI annual certification, which requires that 60% or more of its lending be directed to targeted markets. This allows the organization to ensure its efforts are  benefiting individuals, families, and communities.

One notable example of these efforts is the story of  Marlies Garcia,  an Olympic hopeful from Cuba. She moved to Roanoke with her family to train with Virginia’s Blue Ridge Team24, aiming for the 2024 Paris Olympics. Despite her previous Olympic experience, visa restrictions had limited her international racing opportunities. After obtaining her permanent residency green card this year, Freedom First’s expertise in ITIN lending and down payment assistance helped her family buy their first home. 

Promoting Local Businesses & Community Services

By expanding its charter area, Freedom First has not only accessed new opportunities but also effectively tackled the unique needs of different communities. The credit union consistently adapts its strategies to ensure services are impactful and tailored to meet these varied demands.

One way Freedom First supports local economies is through its innovative ‘Find Your Freedom’ campaign. This initiative provides local businesses with free exposure on multiple media platforms, such as television and social media, which helps enterprises like the downtown Roanoke bakery, Sweets by Shaneice, attract more community support and foster economic vitality.

Additionally, Freedom First demonstrates its commitment to community well-being through the establishment of The LIFT Center at Fallon Park Elementary School. In collaboration with Carilion Clinic, Delta Dental, and Roanoke City Public Schools, this resource enhances the health and educational outcomes of students and provides their families with essential financial counseling services.

Looking Ahead

As Freedom First continues to expand, the credit union is poised to enhance existing programs like the Financial Empowerment Center and to introduce new initiatives aimed at supporting small business development and job readiness. These efforts are tailored to meet and anticipate the changing needs of the communities they serve, fostering sustainable growth and prosperity. Committed to effective resource use and impactful community engagement, Freedom First leverages innovative solutions and strategic partnerships to tackle challenges and leverage opportunities. By prioritizing people over profit, Freedom First truly exemplifies the credit union difference, setting a standard for meaningful impact in both economic and community development.

Read Freedom First's Latest Impact Report