Skip Navigation Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view,download Adobe® Acrobat Reader.
Who We Are
Freedom First Credit Union


Who We Are
Branded Star Mark
Branded Star Mark

Stay Up to Date With Freedom First News

April 26, 2019

Freedom First star icon.Aligning Capital, Training, & Economic Mobility

Freedom First Credit Union was recently invited to participate in an invite-only Financial Innovations Roundtable event at the Federal Reserve Bank of Atlanta. This is an annual event, co-hosted by the Carsey School of Public Policy’s Center for Impact Finance. The purpose was to bring together cross-sector representation to find solutions and provide low-income communities with increased access to capital and financial services. This annual event is billed as a “think tank” and a “think-do tank” that has successfully developed new tools, policies, and practices resulting in millions of dollars being directed into investments in affordable housing, small and minority businesses, community facilities, and other community development efforts.

This year’s theme, “Aligning Capital, Training, and Economic Mobility,” offered an opportunity for experts in community development finance to join a conversation with their peers in workforce development and training. Freedom First's VP Community Development Programs-Tim Cerebe attended and spoke on "Understanding the Workforce Development and Community Development Finance systems". This year’s roundtable supports the two sectors to learn more about each other’s work, examine financial barriers to scaling successful training programs, and discuss opportunities for investments to be made in high-impact businesses and programs. The discussions focused on training and paths to jobs that offer career ladders and economic mobility to low- and moderate-income workers.

Freedom First is honored to be a catalyst at this event.

March 18, 2019

Freedom First star icon.Freedom First Annual Meeting 2019

All Freedom First members are invited to the Freedom First Annual meeting on May 9th, 2019 starting at 6:30 p.m. at the Salem Civic Center.
For 2019, the Nominating Committee returned three nominations for the three vacancies on the Board. As a result there will be no nominations taken from the floor at the meeting. Congratulations to our Board Members - Melinda Payne, Wayne Strickland, and John Budd, Jr., all of whom are incumbents. We hope to see you there!

January 16, 2019

Freedom First star icon.Brian Taylor Joins Freedom First

Freedom First is proud to announce that Brian Taylor has joined the credit union as Vice President of Commercial Lending. Taylor has 9 years of experience in various business roles in the financial services industry including Commercial Lending Relationship Officer, Commercial Loan Officer, and various Loan Servicing roles. Taylor brings knowledge of Business/Commercial Credit underwriting and analysis to an already established commercial lending team at Freedom First.

A graduate of Virginia Tech, Taylor earned a degree in Political Science with minors in Real Estate & Music. Brian’s community involvement includes being a Board Member of the Botetourt County Rotary Club, a member of Carilion Children’s Advisory Board, Campaign Ambassador for Goodwill Industries of the Roanoke Valley, a Loan Review Committee Member/Mentor for The Advancement Foundation, and a member of the Botetourt Chamber’s Business Growth Committee.

November 2, 2018

Freedom First star icon.Freedom First Named Roanoke Chamber of Commerce Large Not-For-Profit of the Year Award 2018

On November 1st the Roanoke Regional Chamber and Roanoke Regional Small Business Development Center announced the winners of the 32nd Annual Small Business of the Year Awards. The annual program showcases the accomplishments of the small business sector which is composed of more than 90 percent of the area’s business community. This year, the awards were separated into categories to demonstrate the broad variety of small businesses we have in Roanoke. Freedom First was recognized as the winner of the Large Not-for-Profit category. 

October 16, 2018

Freedom First star icon.Paula Brown Wins Affiliate of the Year Award 2018

Freedom First congratulates Paula Brown-SVP Mortgage for being named the Roanoke Valley Association of Realtors Individual Affiliate of the Year for 2018. Paula's dedication to Freedom First, her team of Mortgage Professionals, and the local Roanoke and New River Valley real estate and mortgage market has been clear for over 20 years. Paula and her team have expertise that includes Conventional, FHA, VA, VHDA, and USDA mortgages with local processing and underwriting. Her goal has always been to provide a perfect client experience while ensuring that Freedom First's mission  ~ "Helping People Prosper, Helping Communities Thrive" is at the forefront of all she does.  

September 20, 2018

Freedom First star icon.Freedom First Wins CDFI Fund award for 2018

Freedom First is honored to receive the CDFI Fund award for 2018 from the National Federation of Community Development Credit UnionsThe Federation is an association of credit unions united by the mission to provide safe, affordable financial services to low-income consumers and communities. 264 organizations received $187,041,119 in awards. 182 Loan Funds, 48 Credit Unions, 30 Depository Institutions/Holding Companies, and 4 Venture Capital Funds received awards. The organizations awarded were in headquartered in 43 States, the District of Columbia, and Puerto Rico. This award will enable Freedom First to partner with Habitat for Humanity in the Roanoke Valley to bring more home ownership opportunities to the local community through our Affordable Housing Loan Program.

September 1, 2018

Freedom First star icon.Freedom First Welcomes John Budd, Jr. to the Board of Directors

Freedom First welcomes John Budd, Jr., CPA to fill an open Board seat recently vacated when Mr. Tim Sutphin stepped down. John is President and Managing Director of Budd CPA in Roanoke. He is a graduate of the University of Tennessee with degrees in Economics and Finance and completed his post graduate work in Accounting, Auditing, and Taxation at Virginia Tech. John serves on the Foundation for Roanoke Valley and the Grandin Theatre Foundation. He is a member of the Virginia Society of Certified Public Accountants and the American Institute of CPAs. The results of the Board self-assessment as well as Management’s needs assessment indicated the need for more local business owners and those with knowledge in finance and accounting. Mr. Budd possesses both these attributes. 


The Board of Directors wishes to thank Tim Sutphin for 18 years of volunteerism on Freedom First's Board of Directors. We wish him well.

August 21, 2018

Freedom First star icon.Freedom First Welcomes New Supervisory Committee Members for 2018-2019

Freedom First welcomes two new additions to serve a 2018-2019 term on the Supervisory Committee: Ms. Cynthia DiFrancesco, CPA and Ms. Adrienne Sowers. The Credit Union’s Supervisory Committee has the responsibility to ensure that the operations of the Credit Union are carried out in accordance with the Federal Credit Union Act and the rules and regulations of the National Credit Union Administration.
Cynthia DiFrancesco, CPA, is a Tax and Accounting Consultant for both the public and private sector. She graduated from Florida State University with a B.S. in Accounting. She has an understanding of financial statements and has an interest in helping the homeless. She likes that Freedom First has a great community mindset and is a not-for-profit foundation. Ms. DiFrancesco resides in Christiansburg.
Adrienne Sowers is Director of Strategic Payment Relationships and previously Financial Operations Manager with Carilion Clinic. She graduated from Virginia Tech with a Master of Science in Public Health Administration and a Bachelor of Science from the Pamplin College of Business. Having worked at Carilion, Adrienne is familiar with finance and the auditing process as well as working with stakeholders to mitigate the negative impact of changes in processes due to regulatory requirements. She is interested in becoming more involved with the local community. Ms. Sowers resides in Roanoke.

August 1, 2018

Freedom First star icon.2018 Community Grant Application is Open

Freedom First's Community Grant Application is now open for 2018.
If a local organization has a project that supports Community & Household Economy, Health & Human Services, or Arts & Culture, they may be eligible for funding. Living our mission - Helping People Prosper, Helping Communities Thrive. 
Applications must be submitted by 4:00 pm on Friday, September 28th for consideration. For more information contact the Community Development team at

May 11, 2018

Freedom First star icon.Freedom First Announces Board of Directors at Annual Meeting

Freedom First recently held their annual membership meeting and announced the returning members of the board of directors. Filling the three open positions of the nine-member volunteer board are re-elected incumbent directors, Brent Cochran and Judith Harrison, and first-time director, Andrea Garland. The Freedom First Credit Union board of directors are democratically elected by the membership to serve three-year terms.

Brent Cochran is a Roanoke native and social entrepreneur committed to developing sustainable solutions through triple-bottom-line business methods. Brent has already served one term on the board and a few months on the Executive Committee. He holds an MBA in Sustainable Business, is an active entrepreneur and business leader, and a millennial. Brent is the Founding Director of LEAP, the Founding Advisor of the Grandin Co-Lab, General Manager of River Rock Climbing Gym, and Co-founder and Director of Community Sourced Capital.

Judith Harrison has had many years in the Credit Union movement on local and state levels and brings almost 40 years of experience serving on the Supervisory and Board of Directors positions. Judith represents the Credit Union well to our employees, members, potential members and the community at large. She is passionately involved in the Mountain View neighborhood preservation and revitalization efforts.

Andrea Garland offers a diverse cultural knowledge and technical expertise to the Board as an immigrant, young professional, and female engineer. After housing, transportation is on average the largest household expense for American families. Andrea has helped shape the way the Credit Union understands transportation, and brings new ideas on how transportation options can benefit members as a member of the Supervisory Committee.

“Our entire board of directors embodies the spirit of community and brings talent, expertise, and energy to help guide Freedom First,” said Paul Phillips, President and CEO. “We are very fortunate to have each of them by our side as we serve our members in the Roanoke and New River Valleys.”

The other six directors on Freedom First’s board include: Dan Merenda, Chairman; Wayne Strickland, Melinda Payne, Ron Williams, Michelle Dykstra, and Tim Sutphin. The board of directors is responsible for establishing strategic goals and guiding policies, as well as monitoring the performance of management.

May 1, 2018

Freedom First star icon. Freedom First Partners With Alzheimer's Association

Freedom First Credit Union in conjunction with the Alzheimer’s Association of Central and Western Virginia is proud to sponsor "The Crime of the 21st Century: How to Protect Older Adults from Financial Exploitation"This presentation is free and open to the public. Call (800) 272-3900 for information.

The #1 elder abuse issue is financial fraud...and it is growing. Learn how to avoid misuse of assets at this program. Medical, legal, banking, and law enforcement experts will share important information on protecting your resources. A Q&A will follow the panel presentation.

Esteemed Guest Speakers:
Karen A. Roberto, Ph.D, Director of the Institute for Society, Culture & Environment, and
Senior Fellow at the Center for Gerontology at Virginia Tech. Secondary appointee-Department of Internal
Medicine & Department of Psychiatry and Behavioral Medicine at Virginia Tech Carilion School
of Medicine. Primary architect of the MetLife Mature Market Institute studies on financial abuse.
Chris Desimone, Attorney, Anderson, Desimone & Green
Susan Drees-Armstrong, MBA, CFE, Special Agent Accountant, Virginia State Police
Sarah Andrews, Chief Operating Officer, Freedom First Credit Union

2 Venues and Dates:
May 15, 2018, 1-2:30 p.m.
South County Library, SOCO Auditorium - Room 155
6303 Merriman Road, Roanoke, VA 24018

May 17, 2018, 1-2:30 p.m.
Blacksburg Library,
200 Miller Street, Blacksburg, VA 24060

March 28, 2018

Freedom First star icon.Senator Mark Warner Visits Freedom First's West End Branch For Credit Union Town Hall

Freedom First welcomed Senator Mark Warner to a town hall style session for Credit Unions. The Virginia Credit Union League and the Senator's office were instrumental in organizing and promoting this event at the Freedom First West End Branch on Patterson Avenue in Roanoke. The West End Branch community room was filled to capacity with employees, other credit union invitees, and local politicians. The Senator spoke at length about the effect that Credit Unions have on their local communities, how banking regulations implemented in recent years affect smaller community banks, and his vision for changes that he hopes to see legislated in the coming months.

Dave Prosser (SVP — Community Development) and Sarah Andrews (Chief Operating Officer) also spoke with Senator Warner, bringing him up to date on Freedom First's initiatives in Southwest Virginia and the amazing outreach and impact that we have had on our members and communities. The West End Branch, with its community kitchen operated by LEAP for Local Food, is a prime example of what we hope to see in more food and bank deserts in our Valleys.

Freedom First is guided by our mission: Helping People Prosper - Helping Communities Thrive. It was our distinct pleasure to host Senator Warner and the town hall session.

March 19, 2018

Freedom First star icon.Freedom First St. Patrick’s Day Parade & Shamrock Festival Was a Smash Hit

The Freedom First St. Patricks Day Parade and Shamrock Festival was a resounding success. Freedom First was proud to be the title sponsor and enjoyed seeing the multitude of people and many of our members attend this event and enjoy community festivities. This heavily attended event featured floats, children's activities, live bands, food, and plenty of fun. Being the first big event of early spring, we were delighted to see a huge crowd again this year. Freedom First employees decorated and manned the first float in the parade as well as volunteered to help out with other activites like tickets, food stalls, and directing people.

Freedom First takes great pride in being a part of our communities in various ways. By sponsoring local events and bringing people together we believe that we are accomplishing our mission of Helping People Prosper - Helping Communities Thrive.

When you open an account at Freedom First we reinvest the profits locally by sponsoring local events and with our innovative suite of Community Impact Products. Call our Contact Center or Community Development team with questions. (540) 389-0244.

March 17, 2018

Freedom First star icon.You're Invited to the 2018 Annual Meeting on Thursday, May 10, 2018 at the Salem Civic Center

All members are invited to the Freedom First annual meeting on Thursday, May 10, 2018 beginning at 6:30 pm at the Salem Civic Center to welcome our Board of Directors.

For 2018, the nominating committee has returned three nominations for the three vacancies on the Board, and as a result there will be no nominations taken from the floor at the annual meeting. Therefore, no election will be held for 2018 Board members.

Congratulations to our three new Board members:

  • Brent Cochran, Current Board Member
  • Judith Ann Harrison, Current Board Member
  • Andrea Garland, Current Supervisory Committee Member

We hope to see you there!

February 19, 2018

Freedom First star icon.Roanoke's Own Ed Walker Speaks at Freedom First 2018 Employee Meeting

All 180 Freedom First employees gathered in Salem on President's Day for the annual Employee Meeting. CEO Paul Phillips reviewed the past year, recognized stellar employees, and welcomed several guest speakers. 2017 Community Grant recipient The Prevention Council of Roanoke County spoke on their expanding Digital Literacy and safety program, as well as on how Southwest Virginia's opioid epidemic is affecting our youth. 

Ed Walker — Roanoke's very own Real Estate Developer, Roanoke Citizen of the Year (2014), Entrepreneur, & Idea Man — spoke about the importance of social enterprise and how as a credit union, Freedom First is in a prime position to bridge the gap between private business and charitable organizations. He expanded on this point by saying, "“The work you do is a necessary condition to individuals and the community becoming everything they can be. Access to capital and knowledge is a foundational requirement to a community reaching its full potential. I hope to see more investors and depositors make deposits at Freedom First to keep capital here in the community."

Tony Pearman, CEO of Access Advertising & Public Relations, closed the meeting with his recommendations on how Freedom First can provide even more excellent services, products, and member satisfaction in the year ahead. Be sure to keep an eye out on Facebook and Twitter to hear exciting updates! 
View a full listing of our Products and Services:

Looking for a phone number, address, or other basic info?