Our Local Impact Extends Beyond Our Membership — See the Reach of Our Ripple Effect
As socially conscious leaders of the Roanoke and New River Valleys, we ensure that every initiative holds the promise of success for the community. We leverage our strong relationships with nonprofits, businesses, and government organizations to provide a full spectrum of services to every community member.
With over $630 million in our asset portfolio, we are able to help create opportunities in the Roanoke and New River Valleys.
We hold a vision of creating local economic vitality through our core impact areas: Affordable Housing, Transportation, Financial Education, Impact Banking, and Community Revitalization. Our partnerships and outside funding move us toward realizing this vision as a whole community.
Homeownership
We believe that in order to support a more vibrant community, we should work towards ensuring that more of our neighbors have access to home ownership. Our Affordable Housing Program offers extensive support and unconventional loans for those who previously thought home ownership was completely out of reach.
| This Quarter | Year to Date | |
|---|---|---|
|
|
120 loans$20,531,284 total loans
26 First time homebuyers
$24,500 in down payment assistance
|
295 loans$50,518,548 total loans
76 First time homebuyers
100 loans to low & moderate income members
$12,358,117 total loans to low & moderate income members
$151,145 in down payment assistance
|
An award-winning auto buying program for low- to moderate-income earners, including education classes on finances and budgeting as well as car maintenance.
| This Quarter | Year to Date | |
|---|---|---|
|
|
24 loans$272,331 total loans
5 single parents served
12 children affected
205% Average % of poverty rate
|
77 loans$946,264 total loans
23 single parents served
85 children affected
197% Average % of poverty rate
$2,166,725 total in portfolio
|
With CUNA-certified financial coaches on staff, Freedom First helps borrowers receive financial education tailored to their individual situations. Our award-winning financial education program partners with Pathways to Financial Empowerment and GreenPath Financial Wellness to provide expanded services.
| This Quarter | Year to Date | |
|---|---|---|
 |
367 participants23 classroom style settings
189 participants
101 one-on-one coaching sessions
55 individuals
|
1,655 participants99 classroom style settings
939 participants
414 one-on-one coaching sessions
226 individuals
|
|
57% Improved their credit score
15% Improved credit tier*
42 Average credit score increase
74% Established credit (previously had no credit)
568 Median credit score (of those who established credit)
42% Participants reduced debt
$7,598 Average debt reduced
*Credit Tiers: Excellent, Good, Fair, Poor, Bad
|
Impact Banking
Our commitment to personal and financial empowerment is paramount to our success in creating economic vitality in our region. Flash Cash, Payday Relief Loans, Workforce Development Loans, and American Dreamer Loans are some ways we reach our Impact Banking members.
| Year to Date | |
|---|---|
 |
1,041 members$5,013,792 total Impact Banking loan portfolio
$498,572 held in savings accounts
|
Freedom First deploys capital in the communities through Commercial Lending, Business & Real Estate Loans and Personal Loans.
| This Quarter | Year to Date | |
|---|---|---|
 |
$22,499,926 in deployed funding to expand local businesses to support economic development, workforce development, and revitalization efforts.
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$50,875,684 in deployed funding to expand local businesses to support economic development, workforce development, and revitalization efforts.
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Additional Community Give-Back
We invest in local talent and community service through an award-winning grants program and scholarships for area students. A robust, all-volunteer Board of Directors, talented management team and 200 strong employee workforce add vibrancy to the Credit Union ideals that brings alive our mission of Helping People Prosper — Helping Communities Thrive.| Year to Date | |
|---|---|
 |
2,991 employee volunteer hours |
Here are two of our 2018 Grant Winners
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Accolades & Partnerships
We are proud of the awards and recognition we have received through the years and of the many local, regional, & national organizations that we partner with. Here are a few:
Accolades
- Roanoke Regional Chamber of Commerce: 2018 Small Business of the Year Award, Large Not-for-Profit
- 2018 Roanoke St. Patrick’s Day Parade & Shamrock Festival Best in Show
- Public Relations Society of America Blue Ridge: 2018 Summit Gold Award for the “Bank For Good” branding campaign
- 2018 Dora Maxwell Award for the Invest Health initiative
- 2018 Individual Affiliate of the Year for Paula Brown, SVP Mortgage at Freedom First (RVAR)
- Ranked #9 for the Financial Brand 2019 Q3 Power 100 Social Media Rankings
2019 Employee-Selected Community Impact Partners
- Roanoke Valley HOPE Initiative
- LovABLE Services/Chris's Coffee & Custard
- Roanoke Refugee Partnership
- Turn the Page
- St. Vincent's Place/BRAAC
- Transitional Options for Women
- Warm Hearth Village
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