Freedom Credit Union in Springfield, Massachusetts, recently opened its first location in Connecticut.
The $683 million-asset credit union opened a loan production office in Enfield dedicated exclusively to mortgage and business lending, at least for now.
"We are excited to expand our footprint over the state line into Connecticut to better meet the needs of our members there. This new location has both a full-time mortgage loan originator and a business lender on site," Glenn Welch, the credit union's president and CEO, said in a press release.
In 2020, Freedom expanded its charter from people who live, work or attend school in Hampden, Hampshire, Franklin and Berkshire counties in Massachusetts to also include people in Hartford and Tolland counties in Connecticut.
"We have a significant number of members who go back and forth across the state line for work and other activities, so this expansion makes sense," Welch said. "It is our intention to offer additional services to Connecticut in the future."
Freedom has 10 branches throughout the Pioneer Valley in Massachusetts to serve more than 32,000 members.
Freedom Credit Union earned $1.8 million in the first nine months of 2022, a 40% decrease compared with a year earlier, according to call report data from the National Credit Union Administration.
