At a glance
From its website, read 2 Nov 2026Freedom First Federal Credit Union is a credit union based in Roanoke, Virginia. Its website describes home repair loans and home mortgages.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Main | (540) 389-0244 source |
|---|---|
| Toll-free | (866) 389-0244 source |
| Lending | (540) 339-3868 source |
| mortgages@freedomfirst.com source | |
| Website | www.freedomfirst.com |
| Office (official list) | 207 Bullitt Ave SE, Roanoke, VA 24013 |
What their website says about applying
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Home mortgages | Term: see their wording | 12-month balloon payment on interest only | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Credit union |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 31 Mar 2014 |
| RSSD ID | 596286 |
| Address | 207 Bullitt Ave SE, Roanoke, VA 24013 Directions (Google Maps) |
| Website | www.freedomfirst.com |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: medium. No loan amounts, service area, or online loan application were stated on the pages fetched, and the Spanish language evidence is only a website menu label. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Home repair / improvement loans | — | Wrap the financing for your home improvements into your mortgage loan | source |
| Home mortgages | — | If you are looking to buy a home, we can help you finance your mortgage with local processing and local underwriting. | source |
Loan sizes
No amounts stated on the pages we read.
Service area
Not stated on the pages we read.
Borrower focus
- First-time homebuyers
a great option for first-time homebuyers.
source
Languages
- No non-English service found on the pages we read.
Online application
No online application link found on the pages we read.
Pages read (7)
- https://www.freedomfirst.com/
- https://www.freedomfirst.com/banking/mortgage/specialty-loan-programs
- https://www.freedomfirst.com/banking/mortgage/land-loan
- https://www.freedomfirst.com/banking/mortgage/bridge-loan
- https://www.freedomfirst.com/banking/mortgage/prospr-loan
- https://www.freedomfirst.com/banking/mortgage/student-condo-loan
- https://www.freedomfirst.com/banking/mortgage/manufactured-home-loan
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- Do you lend where I live, or where my business is?
Their website does not say which area they serve. - How do I become a member, and is there a fee or a minimum deposit?
Credit unions lend only to their members. - What are the smallest and the largest loans you make?
No loan amounts are stated on their website. - What is the APR, including fees, on your home repair loans and home mortgages?
Their website does not state an APR. The APR includes fees, so it is the number to compare. - Is there a minimum credit score, and do you consider borrowers with little or no credit history?
Their website does not say what credit history they accept. - Do you offer down-payment help, and is a homebuyer education course required?
CDFI home loans often come with homebuyer education or down-payment help; their website does not say. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$10.1 million in 12 awards from the U.S. Treasury's CDFI Fund, 2011–2024 (CDFI Program, Financial Assistance; CDFI Rapid Response Program; Small Dollar Loan Program).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $900,000 |
| 2024 | Small Dollar Loan Program | $287,417 |
| 2022 | CDFI Program, Financial Assistance | $797,900 |
| 2022 | Small Dollar Loan Program | $169,043 |
| 2021 | CDFI Program, Financial Assistance | $766,530 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2021 | Small Dollar Loan Program | $155,500 |
| 2020 | CDFI Program, Financial Assistance | $657,000 |
| 2019 | CDFI Program, Financial Assistance | $714,000 |
| 2018 | CDFI Program, Financial Assistance | $950,000 |
| 2016 | CDFI Program, Financial Assistance | $2,000,000 |
| 2011 | CDFI Program, Financial Assistance | $850,000 |
Emergency Capital Investment Program (ECIP)
Treasury invested $21 million in this institution under ECIP, by buying preferred stock or subordinated debt (an investment, not a grant; it is not counted in the award total). ECIP type on the list: CDFI. Source: U.S. Treasury ECIP participant list (last updated Mar 2025), downloaded 3 Nov 2026.
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Branches and size
NCUA, 30 Jun 2026On file with the NCUA as FREEDOM FIRST (charter 11111). Source: NCUA 5300 Call Report quarterly data (public data) as of 30 Jun 2026, downloaded 3 Nov 2026: total assets, members and branch addresses.
| Total assets | $1.3 billion (as of 30 Jun 2026) |
|---|---|
| Members | 63,954 (as of 30 Jun 2026) |
| Offices | 15 (as of 30 Jun 2026) |
Offices by state and county (15)
Virginia (15 offices)
- Botetourt County (1): 1171 Roanoke Rd, Daleville 24083
- Lynchburg City (2): 2102 Langhorne Rd, Lynchburg 24501; 7815 Timberlake Rd, Lynchburg 24502
- Montgomery County (3): 1204 S Main St, Blacksburg 24060; 2701 Prices Fork Rd, Blacksburg 24060; 417 N Franklin St, Christiansburg 24073
- Roanoke City (6): 207 Bullitt Ave SE, Roanoke 24013 (main office); 102 Campbell Ave SW, Roanoke 24011; 1210 Patterson Ave SW, Roanoke 24016; 2221 Colonial Ave SW, Roanoke 24015; 3565 Orange Ave NE, Roanoke 24012; 5002 Cross Rd, Roanoke 24012
- Roanoke County (2): 4203 Electric Rd, Roanoke 24018; 203 W Virginia Ave, Vinton 24179
- Salem City (1): 1235 Electric Rd, Salem 24153
An office shows where the lender has a branch, not where it lends or whom it lends to. Credit unions serve members only; check who can join. For the ZIP-code search, credit-union offices are placed at the centre of their ZIP code (approximate).
What the regulator filing shows
NCUA 5300, 30 Jun 2026Figures from the 5300 Call Report filed by Freedom First Federal Credit Union (NCUA charter 11111, filed as “FREEDOM FIRST”). Source: NCUA 5300 Call Report quarterly data (public data), cycle 30 Jun 2026; year-earlier figures from the 30 Jun 2025 cycle; downloaded 3 Nov 2026.
| Total loans and leases | $1.07 billion, 24,626 loans (as of 30 Jun 2026) |
|---|---|
| Change over the year | Up 8.0% from $988.2 million on 30 Jun 2025 |
| Members | 63,954 (as of 30 Jun 2026); 62,597 (as of 30 Jun 2025) |
| Loans per member | $16,693 (total loans divided by members, 30 Jun 2026) |
| Total assets | $1.26 billion (as of 30 Jun 2026) |
Loan mix (balances on 30 Jun 2026)
| Loan category | Balance | Share |
|---|---|---|
| New vehicle loans | $40.7 million | 3.8% |
| Used vehicle loans | $133.8 million | 12.5% |
| First-lien home mortgages (1-4 family) | $243.5 million | 22.8% |
| Other real estate loans (junior liens, other) | $55.8 million | 5.2% |
| Commercial (business) loans | $568 million | 53.2% |
| Credit cards | $14.7 million | 1.4% |
| Other unsecured loans | $10.4 million | 1.0% |
| Leases and other secured loans | $751,432 | 0.1% |
Balances are loans outstanding on the report date, not loans made during the year. A category with no balance does not mean the credit union never makes that kind of loan. Credit unions lend to members only; check who can join.
Home loans reported under HMDA (2025)
FFIEC HMDA data, 2025Freedom First Federal Credit Union reported 700 originated home loans for 2025 under the Home Mortgage Disclosure Act, totaling about $152.7M (median loan about $145,000). 327 were home-purchase loans.
By loan purpose
| Purpose | Loans | Share |
|---|---|---|
| Home purchase | 327 | 47% |
| Refinance (incl. 120 cash-out) | 134 | 19% |
| Home improvement | 133 | 19% |
| Other purpose | 106 | 15% |
By loan type
| Loan type | Loans | Share |
|---|---|---|
| Conventional | 633 | 90% |
| FHA-insured | 52 | 7.4% |
| VA-guaranteed | 12 | 1.7% |
| USDA (RHS or FSA) | 3 | 0.4% |
Included above: 285 home-equity or other open-end lines of credit; 29 loans on manufactured homes; 24 loans on multifamily (5+ unit) properties.
Where the loans were made
Counties with the most 2025 originations, out of 55 counties with at least one; 98% of its 2025 loans were for properties in Virginia:
- Montgomery County, VA (116)
- Roanoke City, VA (115)
- Roanoke County, VA (110)
- Bedford County, VA (56)
- Salem City, VA (48)
- Botetourt County, VA (46)
- Lynchburg City, VA (40)
- Franklin County, VA (35)
Filed under LEI 549300KGMXCXMVC0BO47 as “Freedom First Federal Credit Union”; matched by its RSSD ID on the CDFI Fund list, which the HMDA reporter panel links to this LEI.
Source: FFIEC Home Mortgage Disclosure Act (HMDA) data for 2025, snapshot frozen 2 Jun 2026, loan-level records read through the CFPB HMDA Data Browser API on 3 Nov 2026. Originated loans only; applications that were denied, withdrawn or not accepted are not counted. HMDA publishes each loan amount as the middle of a $10,000 band, so totals and medians are approximate. Counts under 3 are not shown. How we match lenders.
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Median SBA 7(a) loan it approved, FY2020–FY2026 | $100,000 (18 loans) | All 7(a) lenders in Virginia: $225,000. Larger than the median loan of 15% of the 97 other certified CDFIs with 10 or more 7(a) loans. |
| Total assets (Call Report, 30 Jun 2026) | $1.26 billion | Larger than 87% of the 284 other certified credit unions nationwide (median $181.2 million). |
| Loans as a share of assets | 85% | Median of the same 284 credit unions: 69%. A higher share means more of its balance sheet is lent out. |
| Loans held, 30 Jun 2025 → 30 Jun 2026 | $988.2 million → $1.07 billion (+8%) | Median change of 282 other certified credit unions nationwide: +3%. Rank by loans held among these 283: 33 → 33. |
| Home loans originated in 2025 (HMDA) | 700 | More than 89% of the 263 other certified CDFIs that reported 3 or more (119 at the median). Volume only; nothing here is an approval rate. |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Median SBA 7(a) loan | certified CDFIs with 10+ 7(a) loans, nationwide | 97 | larger than 15% |
| Call Report total assets | other certified credit unions nationwide | 284 | larger than 87% |
| Loans held then vs now | certified credit unions nationwide reporting both dates | 282 | rank 33 → 33 of 283 |
| HMDA home loans | certified CDFIs with 3+ originations in 2025, nationwide | 263 | more than 89% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered; your rate depends on the loan and on the lender's review. Peer groups and sources: methodology. SBA 7(a) & 504 FOIA data as of 30 Sep 2026. Assets and loans: FFIEC and NCUA Call Reports (see the loan-mix section). Home loans: FFIEC/CFPB HMDA data.
SBA loans approved
SBA data as of 30 Sep 2026The SBA's public loan data lists 32 SBA-backed approvals for Freedom First Federal Credit Union in fiscal years 2020–2026 (October 2019 to September 2026):
- 18 7(a) loans as the lender: $2.8M in total (gross amount approved), median $100,000
- 14 504 projects as the third-party (first-lien) lender: $3.9M in total (its own third-party loan amount), median $190,875
By fiscal year: FY2020 2 · FY2021 2 · FY2022 2 · FY2023 5 · FY2024 2 · FY2025 11 · FY2026 8.
What actually happened
- Size of its 7(a) loans: half were between $50,000 and $181,250, median $100,000 (18 loans)
- Size of its 504 first-lien loans (third-party lender): half were between $145,375 and $332,375, median $190,875 (14 loans)
- Term of its 7(a) loans: median 72 months (6 years) (18 loans)
- Term of its 504 first-lien loans (third-party lender): median 300 months (25 years) (14 loans)
- Interest rate at approval on its 7(a) loans in FY2025–26: median 7.50%, half between 7.25% and 7.75% (14 loans; SBA's initial rate, before any change on a variable loan)
- Fixed or variable: 50% of its 7(a) loans had a fixed rate (18 loans)
- Young businesses: 24% of its 7(a) loans went to a startup or a business two years old or less (17 loans with an answer)
Descriptive only: what the SBA file records for loans this lender approved in fiscal years 2020–2026. Each figure covers at least 10 loans; with fewer we show nothing. It is not an offer, not the rate or term you would get, and says nothing about your chance of approval.
By program
- 7(a) SBA Express (14, 44%)
- 504 projects (as the third-party lender) (14, 44%)
- 7(a) standard (4, 12%)
Borrower industries
NAICS sector, 3 or more loans.
- Health care and social assistance (8)
- Professional, scientific, and technical services (4)
- Accommodation and food services (4)
- Other services (except public administration) (4)
Where borrowers are
County of the borrower's ZIP code, 3 or more loans.
- Roanoke City, VA (9)
- Lynchburg City, VA (7)
- Salem City, VA (5)
- Bedford County, VA (4)
How this lender was matched in the SBA files: 504 third-party lender name: same name, state and city (SBA lists “Freedom First Federal Credit Union”); NCUA charter 11111, found through the RSSD ID in NCUA records (SBA lists “Freedom First Federal Credit Union”).
Approved is not the same as paid out: an approved loan can be reduced or never drawn. SBA lists the lender each loan is currently assigned to, which can differ after a merger or loan sale. Freedom First Federal Credit Union may also make loans outside SBA programs, which are not counted here, and SBA Microloans are not in these files. For 504 projects, the CDC amount is the SBA-backed portion and the third-party lender amount is that lender's own first-lien loan.
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data, files as of 30 Sep 2026, downloaded 3 Nov 2026. Our counts, cancelled approvals left out. How we match lenders.
Other certified CDFIs in Roanoke and Virginia
- Business Seed Capital, Inc.Loan fund · Roanoke, VASmall-dollar / emergency loansVerified
- Southeast Rural Community Assistance Project, Inc.Loan fund · Roanoke, VAHome repair / improvement loans, Small-business loansVerified
- Appalachian Community Capital CorporationLoan fund · Christiansburg, VAVerified
- Bridging Virginia IncLoan fund · Richmond, VASmall-business loansVerified
- Capital Impact PartnersLoan fund · Arlington, VACommercial real estate loans, Nonprofit / community facility loansVerified
- Community Investment CollaborativeLoan fund · Charlottesville, VAMicroloans, Small-business loansVerified
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