BALTIMORE, MD—Freedom Federal Credit Union and Atlantic Financial Federal Credit Union on Thursday announced plans to merge pending regulatory approval and Atlantic Financial FCU member vote. The resulting Credit Union will operate under the “Freedom Federal Credit Union” name and brand.
While the combined assets would be approximately $535 million, both Credit Unions would serve a combined membership of over 42,000. The merger will provide greater branch convenience with the addition of two Atlantic Financial FCU branches to the six existing Freedom FCU branches and over 80,000 surcharge-free ATMs through their ATM network. The resulting Credit Union will have eight physical branches in all.
“Atlantic Financial FCU has a long and respected tradition of providing exceptional service to our members in the Baltimore City, Baltimore County, Carroll County, and Harford County communities,” stated Matt Piazza, President and CEO of Atlantic Financial FCU. ”I have seen this Credit Union grow from a small organization, established in 1950, to a $103 million asset institution that is well-known and highly regarded. The merger with Freedom FCU is the next evolution in that growth and will provide our members a wider range of financial products and services, enhanced digital banking solutions, competitive loan options, and personalized wealth management services that members have been wanting. I am also pleased we will be joining with an organization that also has deep roots in many of the same communities as we do.”
“We believe in people before profits and that everything we do, first and foremost, ensures the financial well-being of our members,” stated Mike MacPherson, President and CEO of Freedom FCU. “We will be able to offer a holistic banking experience for all members, as well as provide our unique service differentiation that we like to call ‘The Freedom Advantage.’ Additionally, we believe that, together, we can achieve greater success and make a more significant impact on the lives of our members and the communities that we serve. Through this merger, we can combine our strengths and position our Credit Union toward sustained growth and long-term success. I am very excited to have the opportunity to welcome Atlantic Financial FCU’s members and employees to Freedom.”
With regulatory and member approval, the intended merger is expected to be completed before the end of 2024. Instructions and procedures for Atlantic Financial FCU member approval voting will be announced in the near future.
