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Credit union, Roanoke, VA
Freedom First Credit Union
A credit union based in Roanoke, VA. Its commercial book is led by multifamily and non-owner-occupied CRE. Public files show recent multifamily, 1-4 unit investor, SBA 7(a), SBA 504 and real-estate-secured commercial loans it made.
- Kind
- Credit union
- Data as of
- June 30, 2026
- Page last changed
- November 12, 2026
- Commercial book
- $565M
- NCUA 5300,
- Holds, not loans made
- Commercial loans made, H1 2026
- 53
- NCUA 5300,
- Real-estate-secured
- SBA loans, 36 months
- 21
- SBA FOIA,
- 7(a) and 504, net of cancelled
- Total assets
- $1.26B
- NCUA 5300,
Does it fit my deal?
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How to reach them
Each line shows where it came from
- Phone
- 540-389-0244 From the NCUA record, June 30, 2026.
- Website
- www.freedomfirst.comFrom the NCUA record, November 9, 2026.
- Commercial lending page
- freedomfirst.comFrom the lender's website, retrieved November 11, 2026.
- Names it files under
- FREEDOM FIRST; Freedom First Federal Credit UnionNCUA 5300,
- Address
- 5240 Valleypark Dr, Roanoke, VA 24019-3002NCUA 5300,
- Regulator record
- NCUA profile
You generally must be a member of a credit union to borrow from it. Field of membership: Community - Rural District. Designated low-income by NCUA.
Recently done
Recorded lending
Recorded lending. Two or more public files show loans this lender made.
What changed. Freedom First Credit Union originated 24 multifamily loans in 2025, versus 10 in 2024. HMDA,
| When | What the record shows | Source |
|---|---|---|
| October 21, 2026 | Certified by the CDFI Fund as a Community Development Financial Institution.Membership in a public list, not lending volume. | CDFI Fund certified list, |
| Oct 2023 to Sep 2026 | SBA 7(a) approvals by processing method: 12 SBA Express.SBA ProcessingMethod field, net of cancellations. | SBA FOIA, |
| Jun 2025 to Jun 2026 | Multifamily balance rose 5.2% to $218.2M in the year to June 30, 2026.Balances, not originations. Year over year from call reports. | NCUA 5300 |
| Jun 2025 to Jun 2026 | Owner-occupied CRE balance rose 23.0% to $78.8M in the year to June 30, 2026.Balances, not originations. Year over year from call reports. | NCUA 5300 |
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| Jul 2026 | Virginia | SBA 7(a), Other Services (except Public Administration) | $50K | 7.25% | 4 yr | SBA FOIA | |
| Apr 2026 | Virginia | SBA 7(a), Administrative and Support and Waste Management and Remediation Services | $550K | 7.75% | 6 yr | SBA FOIA | |
| Apr 2026 | Virginia | SBA 7(a), Sporting Goods Retailers | $100K | 7.25% | 6 yr | SBA FOIA | |
| Mar 2026 | Virginia | SBA 7(a), Poured Concrete Foundation and Structure Contractors | $60K | 7% | 5 yr | SBA FOIA | |
| Jan 2026 | Virginia | SBA 7(a), Manufacturing | $300K | 7.75% | 6 yr | SBA FOIA | |
| Jan 2026 | Virginia | SBA 7(a), Offices of Physicians (except Mental Health Specialists) | $110K | 7.25% | 6 yr | SBA FOIA | |
| Jan 2026 | Virginia | SBA 7(a), Offices of Physicians (except Mental Health Specialists) | $100K | 7.5% | 4 yr | SBA FOIA | |
| 2025 | Roanoke city, VA | Purchase, 150 or more units | $6.6M | 7% | 3 yr | 64% | HMDA 2025 |
| 2025 | Roanoke city, VA | Cash-out refinance, 5 to 24 units | $3.9M | 6.5% | 10 yr | 64% | HMDA 2025 |
| 2025 | Roanoke city, VA | Improvement, 25 to 49 units | $3.4M | 6.55% | 10 yr | 90% | HMDA 2025 |
| 2025 | Henry County, VA | Refinance, 25 to 49 units | $2.3M | 7.15% | 10 yr | 55% | HMDA 2025 |
| 2025 | Danville city, VA | Cash-out refinance, 25 to 49 units | $1.6M | 6.75% | 10 yr | 77% | HMDA 2025 |
| 2025 | Roanoke city, VA | Cash-out refinance, 5 to 24 units | $1.5M | 6.75% | 10 yr | 74% | HMDA 2025 |
| 2025 | Roanoke city, VA | Purchase, 5 to 24 units | $1.3M | 6.5% | 10 yr | 71% | HMDA 2025 |
| 2025 | Roanoke city, VA | Purchase, 5 to 24 units | $1.2M | 6.25% | 10 yr | 86% | HMDA 2025 |
| 2025 | Campbell County, VA | Purchase, 5 to 24 units | $1M | 5.6% | 10 yr | 68% | HMDA 2025 |
| 2025 | Salem city, VA | Purchase, 5 to 24 units | $1M | 6.5% | 10 yr | 71% | HMDA 2025 |
| 2025 | Lynchburg city, VA | Purchase, 5 to 24 units | $900K | 6.15% | 10 yr | 73% | HMDA 2025 |
| 2025 | Lynchburg city, VA | Purchase, 5 to 24 units | $900K | 6.5% | 10 yr | 64% | HMDA 2025 |
| 2025 | Lynchburg city, VA | Purchase, 5 to 24 units | $900K | 6.5% | 10 yr | 64% | HMDA 2025 |
| 2025 | Lynchburg city, VA | Purchase, 5 to 24 units | $800K | 6.5% | 1 yr | 67% | HMDA 2025 |
| Aug 2025 | Virginia | SBA 504, Offices of Real Estate Agents and Brokers | $440K | 25 yr | SBA FOIA | ||
| Feb 2025 | Virginia | SBA 504, Professional, Scientific, and Technical Services | $150K | 25 yr | SBA FOIA | ||
| Nov 2024 | Virginia | SBA 504, Health Care and Social Assistance | $740K | 25 yr | SBA FOIA | ||
| Jun 2024 | Virginia | SBA 504, Health Care and Social Assistance | $190K | 25 yr | SBA FOIA | ||
| 24 multifamily loans made in 2025 | $31.6M | HMDA 2025 | |||||
A blank means the source did not report it.
What it holds
NCUA 5300, June 30, 2026
| Book | Holds | Of its loans | Year over year | Loans | Average |
|---|---|---|---|---|---|
| Multifamily | $218M | 20.4% | +5.2% | 248 | $880K |
| Construction and land development | $48.6M | 4.5% | +43.3% | 39 | $1.25M |
| Owner-occupied CRE | $78.8M | 7.4% | +23.0% | 147 | $536K |
| Non-owner-occupied CRE | $180M | 16.9% | -0.5% | 208 | $866K |
| Farmland | $2.86M | 0.3% | +11.9% | 7 | $408K |
| Commercial and industrial | $36.0M | 3.4% | +28.5% | 189 | $191K |
| Other real-estate-secured commercial | $0 | 0.0% | Not reported | Not reported | Not reported |
| Commercial total | $565M |
Table
| Quarter | Commercial book |
|---|---|
| Q3 2023 | $499M |
| Q4 2023 | $499M |
| Q1 2024 | $515M |
| Q2 2024 | $522M |
| Q3 2024 | $513M |
| Q4 2024 | $511M |
| Q1 2025 | $507M |
| Q2 2025 | $517M |
| Q3 2025 | $530M |
| Q4 2025 | $557M |
| Q1 2026 | $550M |
| Q2 2026 | $565M |
| Kind of loan | Period | Loans made | Dollars | Typical size | Largest | Source |
|---|---|---|---|---|---|---|
| Multifamily, 5 or more units | 2025 | 24 | $31.6M | $905K | $6.6M | HMDA, |
| Multifamily, 5 or more units | 2024 | 10 | $23.1M | $775K | HMDA, | |
| 1-4 unit investor or business purpose | 2025 | 70 | $13.2M | $180K | HMDA, | |
| SBA 7(a), net of cancelled | 36 months to Sep 2026 | 14 | $2.05M | $100K | $550K | SBA FOIA, |
| SBA 7(a), net of cancelled | 12 months to Sep 2026 | 8 | $1.32M | SBA FOIA, | ||
| SBA 504 first lien, net of cancelled | 36 months to Sep 2026 | 7 | $2.58M | $337K | $740K | SBA FOIA, |
| Real-estate-secured commercial | First half of 2026 | 53 | $62.1M | NCUA 5300, | ||
| Multifamily | First half of 2026 | 21 | $11.7M | NCUA 5300, | ||
| Construction | First half of 2026 | 11 | $29.1M | NCUA 5300, | ||
| Owner-occupied CRE | First half of 2026 | 15 | $10.4M | NCUA 5300, | ||
| Non-owner-occupied CRE | First half of 2026 | 5 | $10.6M | NCUA 5300, | ||
| C&I | First half of 2026 | 34 | $5.79M | NCUA 5300, |
How these public files were tied to this lender. HMDA: its legal entity identifier (LEI). SBA 7(a) loans: its NCUA charter number. SBA 504 first liens: its name and state.
| Book | Average loan |
|---|---|
| Construction and land development | $1.25M |
| Multifamily | $880K |
| Owner-occupied CRE | $536K |
| Non-owner-occupied CRE | $866K |
| Farmland | $408K |
| Commercial and industrial | $191K |
Programs on record: Federal Home Loan Bank member, Atlanta district (FHFA).
Program lists that name this lender
Membership, not lending volume
- Listed by CDFI Fund: List of Certified CDFIs as: Certified CDFI (October 21, 2026). Certified by the CDFI Fund as a Community Development Financial Institution. Kind of institution: Credit Union. Certification: Certified by the CDFI Fund since 2014-03-31.
Being on a list says the lender is a member of that program on the date shown. It does not say how much it lends.
Where it lends
Offices beside loans on record
| State | Offices | Multifamily 2025 | 1-4 investor 2025 | SBA 7(a) 36 mo. | SBA 504 36 mo. |
|---|---|---|---|---|---|
| Virginia HQ | 15 | 24 | 67 | 14 | 7 |
| North Carolina | 0 | 0 | 2 | 0 | 0 |
| West Virginia | 0 | 0 | 1 | 0 | 0 |
| County | Recorded loans | Dollars |
|---|---|---|
| Roanoke city, VA | 8 | $18.6M |
| Lynchburg city, VA | 7 | $4.83M |
| Metro | Recorded loans | Dollars |
|---|---|---|
| Roanoke, VA | 16 | $22.0M |
| Lynchburg, VA | 10 | $11.5M |
Capacity. Not a rating
Our calculation from public filings, as of June 30, 2026. Not a rating, and not a statement about safety or deposits.
| Measure | This lender | Its peers | How it is worked out | Source |
|---|---|---|---|---|
| Business loan cap | $154M | $61.7M to $395M across 8 peers | Estimate: the lesser of 1.75 times net worth or 12.25% of assets. Low-income designated credit unions and some others are exempt. Not a statement from the credit union. | NCUA 5300, 12 CFR 723.8, Jun 30, 2026 |
| Business loans outstanding | $568M | $14.0M to $302M across 8 peers | Net member business loans, as reported on Form 5300. | NCUA 5300, |
| Cap used | 368.9% | 7.7% to 205.4% across 8 peers | Business loans outstanding over the estimated cap. This credit union is designated low-income by NCUA and is exempt from the cap. | NCUA 5300, |
| Largest single borrower | $19.9M | $7.74M to $47.0M across 8 peers | Estimate: the greater of 15% of net worth or $100,000. Not a limit the credit union has stated. | NCUA 5300, 12 CFR 723.4, Jun 30, 2026 |
| CRE to net worth | 336.6% | 34.2% to 169.3% across 8 peers | (Construction + multifamily + non-owner-occupied CRE loans) divided by net worth. Our own ratio, not a regulatory test or limit. | NCUA 5300, |
| Loans to assets | 84.9% | 57.0% to 85.7% across 8 peers | Total loans divided by total assets. | NCUA 5300, |
Estimates use the formulas in 12 CFR 723. Low-income designated credit unions and some others are exempt from the cap.
Loan channel and SBA processing
Public record only
- SBA Express
- 12 loans
- Approval to first disbursement
- 20.5 days, median of 12
SBA FOIA, SBA 7(a) loans, 36 months. Counted from SBA approval, not application. Lines of credit disburse fast.
Peers
Same kind of lender, similar size and book
| Lender | State | Total assets | Commercial book |
|---|---|---|---|
| 1st Advantage Credit Union | VA | $1.09B | $139M |
| University of VA Community CU | VA | $1.62B | $91.5M |
| ABNB Credit Union | VA | $914M | $115M |
| United States Senate Credit Union | VA | $1.49B | $147M |
| Dupont Community Credit Union | VA | $2.10B | $197M |
| Bayport Credit Union | VA | $2.78B | $297M |
| Chartway Credit Union | VA | $3.23B | $106M |
| Valleystar Credit Union | VA | $503M | $123M |
What we don't know
- Whether it is taking new loans today, or on what terms.
- Who can join. A credit union lends only to its members, and field of membership decides who qualifies.
- Whether it takes brokers. No figure here means no evidence, not a refusal.
- Credit union concentration ratios here are our own calculation against net worth. They are not a regulatory test or limit. Originations are Jan-Jun 2026 year to date.
Check this page
Against the regulator's own record
- Name and charter. Freedom First Credit Union, NCUA charter 11111. Compare it with the regulator's record. [NCUA profile]
- Balances. $1.26B in total assets and $565M in commercial loans held, from the NCUA 5300 for June 30, 2026. [Source]
- Loans made. 53 real-estate-secured commercial loans made in the first half of 2026, from your NCUA Form 5300, and 125 loans in HMDA and SBA files, through September 30, 2026: 24 HMDA multifamily 2025, 10 HMDA multifamily 2024, 70 HMDA 1-4 unit investor 2025, 14 SBA 7(a) in 36 months, 7 SBA 504 first liens in 36 months. [How each file was tied to Freedom First Credit Union]
- Phone and website. Phone 540-389-0244, from the NCUA record. Website freedomfirst.com, from the NCUA record. [How to reach them]
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For the record
Data as of June 30, 2026. Page last changed November 12, 2026.
- Regulator
- National Credit Union Administration
- NCUA charter
- 11111
- RSSD
- 596286
- LEI
- 549300KGMXCXMVC0BO47
- The Lender Report ID
- lr_001281
- Main office county
- Roanoke City
- Members
- 64,425
- NCUA region
- 1 - Eastern
NCUA credit union details,
- Reported $1.3B in total assets as of June 30, 2026 (NCUA 5300).
- Held $564.6M of commercial and commercial real estate loans as of June 30, 2026 (NCUA 5300).
- Held $218.2M of multifamily loans as of June 30, 2026, up 5.2% from a year earlier (NCUA 5300).
- Held $180.1M of non-owner-occupied commercial real estate loans as of June 30, 2026 (NCUA 5300).
- Held $78.8M of owner-occupied commercial real estate loans as of June 30, 2026, up 23.0% from a year earlier (NCUA 5300).
- Originated 24 multifamily loans totaling $31.6M in 2025 (HMDA).
8 more sentences
- Originated 10 multifamily loans totaling $23.1M in 2024 (HMDA).
- Originated 70 1-4 unit investor or business-purpose loans totaling $13.2M in 2025 (HMDA).
- Recorded 14 SBA 7(a) approvals totaling $2.1M from October 1, 2023 to September 30, 2026 (SBA).
- Provided the first lien on 8 SBA 504 projects with $2.8M in first-lien dollars from October 1, 2023 to September 30, 2026, of which 1 was later cancelled (SBA).
- Originated 53 real-estate-secured commercial loans totaling $62.1M in the first half of 2026 (NCUA 5300).
- Held $26.4M of nonmember commercial loans and participations as of June 30, 2026 (NCUA 5300).
- Listed 15 offices in 1 state (NCUA).
- Certified by the CDFI Fund as a Community Development Financial Institution. (CDFI Fund list, as of October 21, 2026).
Cite this
Source: The Lender Report, Freedom First Credit Union, https://lender.report/lender/freedom-first-credit-union-va/, data as of June 30, 2026.
Sources
- NCUA 5300, June 30, 2026
- NCUA 5300, June 30, 2025
- HMDA, 2025
- SBA FOIA, September 30, 2026
- NCUA 5300, June 30, 2026
- CDFI Fund certified list, October 21, 2026
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Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem