Nonprofit · EIN 04-1961180
FREEDOM CREDIT UNION
Tax-exempt · SPRINGFIELD, MA 01103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $40,594,063 | $34,808,962 | $5,785,101 | $751,618,910 | $652,759,631 | $98,859,279 |
| December 31, 2024 | 990 | $37,579,493 | $35,043,719 | $2,535,774 | $733,888,562 | $643,790,788 | $90,097,774 |
| December 31, 2023 | 990 | $34,489,002 | $30,493,956 | $3,995,046 | $738,359,654 | $651,869,684 | $86,489,970 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $33,009,693
- Investment income
- $7,584,370
- Net gain from sales of assets
- $1,135,325
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $2,699,292
- Other salaries and wages
- $5,604,489
- Salaries, compensation and benefits (total)
- $10,499,697
- Professional fundraising fees
- $0
- Accounting fees
- $410,435
- Occupancy
- $1,500,440
- Travel
- $7,986
- Depreciation
- $632,942
Balance sheet and other
- Total assets, start of year
- $733,888,562
- Total assets, end of year
- $751,618,910
- Total liabilities, end of year
- $652,759,631
- Net assets, end of year
- $98,859,279
- Land, buildings and equipment
- $5,293,554
- Publicly traded securities
- $123,095,681
- Gross receipts
- $45,734,771
- Employees
- 159
- Volunteers
- 11
- Year formed
- 1922
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GLENN WELCH | PRESIDENT Officer | 45 | $413,475 | $37,096 |
| LEE CRAIG | CHIEF FINANCIAL OFFICER Officer | 45 | $238,537 | $29,239 |
| JACK VADNAIS | DIRECTOR OF FINANCIAL PLA Highest-paid employee | 45 | $176,517 | $63,868 |
| DAVID CHASE | VICE PRESIDENT OF BUSINESS Key employee | 45 | $178,806 | $60,619 |
| JEFFREY SMITH | VICE PRESIDENT OF LENDING Key employee | 45 | $197,100 | $41,454 |
| KARA HERMAN | VICE PRESIDENT OF RETAIL A Key employee | 45 | $180,036 | $41,088 |
| GINA NOBLIT | DIRECTOR OF HUMAN RESOURCE Highest-paid employee | 45 | $184,067 | $35,905 |
| CHERYL PODGORSKI | VP OPERATIONS Key employee | 45 | $181,483 | $28,571 |
| ALLEN REED | INFORMATION SECURITY OFFIC Highest-paid employee | 45 | $141,589 | $43,798 |
| EUGENE MARCEAU JR | IT ADMIN Highest-paid employee | 45 | $100,760 | $78,811 |
| MOLLY K TERPOA | ACCOUNTING MANAGER Highest-paid employee | 45 | $107,464 | $61,445 |
| DONALD C EMERSON | DIRECTOR Trustee or director | 5 | $3,005 | $0 |
| LOUIS G GUILLETTE | DIRECTOR Trustee or director, Officer | 10 | $0 | $0 |
| WILLIAM G O'BRIEN | DIRECTOR Trustee or director | 5 | $0 | $0 |
| WILLIAM T CAREY | CHAIRPERSON/DIRECTOR Trustee or director, Officer | 5 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LAWRENCE F BOULEY | DIRECTOR Trustee or director | 5 | $0 |
| BRIAN D HARRINGTON | VICE CHAIRPERSON/DIRECTOR Trustee or director, Officer | 5 | $0 |
| DONALD R SENECAL | DIRECTOR Trustee or director | 5 | $0 |
| WILLIAM FLAHERTY | SECRETARY/TREASURER/DIRECTOR Trustee or director, Officer | 5 | $0 |
| DANIEL REIGNER | DIRECTOR Trustee or director | 5 | $0 |
| RONDEAU NICOLE | DIRECTOR Trustee or director | 5 | $0 |
| MARK WAYNE | DIRECTOR Trustee or director | 5 | $0 |
990 for the year ended December 31, 2024: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GLENN WELCH | PRESIDENT Officer | 45 | $424,382 | $32,503 |
| DAVID CHASE | VICE PRESIDENT OF BUSINESS Key employee | 45 | $172,893 | $56,425 |
| JEFFREY SMITH | VICE PRESIDENT OF LENDING Key employee | 45 | $191,422 | $31,383 |
| KARA HERMAN | VICE PRESIDENT OF RETAIL A Key employee | 45 | $169,103 | $37,849 |
| GINA NOBLIT | DIRECTOR OF HUMAN RESOURCE Key employee | 45 | $172,949 | $33,286 |
| CHERYL PODGORSKI | VP OPERATIONS Key employee | 45 | $178,021 | $17,815 |
| LEE CRAIG | CHIEF FINANCIAL OFFICER Officer | 45 | $172,815 | $10,587 |
| ALLEN REED | INFORMATION SECURITY OFFIC Highest-paid employee | 45 | $137,472 | $41,405 |
| JACK VADNAIS | DIRECTOR OF FINANCIAL PLA Highest-paid employee | 45 | $112,022 | $54,281 |
| JOHN SANTANIELLO | ASSISTANT VICE PRESIDENT Highest-paid employee | 45 | $135,000 | $15,153 |
| CHARLENE SMOLKOWICZ | MANAGER Highest-paid employee | 45 | $116,864 | $20,175 |
| JOANNE PAGE | MANAGER Highest-paid employee | 45 | $115,123 | $21,609 |
| LOUIS SCUNGIO | CFO THROUGH 1/12/2024 Officer | 45 | $120,027 | $4,520 |
| LOUIS G GUILLETTE | DIRECTOR Trustee or director, Officer | 10 | $5,235 | $0 |
| DONALD C EMERSON | DIRECTOR Trustee or director | 5 | $3,271 | $0 |
| JOHN R REIGNER | DIRECTOR Trustee or director | 5 | $1,621 | $0 |
| FELIX SANTANIELLO | DIRECTOR Trustee or director | 5 | $691 | $0 |
| WILLIAM G O'BRIEN | DIRECTOR Trustee or director | 5 | $0 | $0 |
| WILLIAM T CAREY | CHAIRPERSON/DIRECTOR Trustee or director, Officer | 5 | $0 | $0 |
| LAWRENCE F BOULEY | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BRIAN D HARRINGTON | VICE CHAIRPERSON/DIRECTOR Trustee or director, Officer | 5 | $0 | $0 |
| DONALD R SENECAL | DIRECTOR Trustee or director | 5 | $0 | $0 |
| WILLIAM FLAHERTY | TREASURER/DIRECTOR Trustee or director, Officer | 5 | $0 | $0 |
| DANIEL REIGNER | DIRECTOR Trustee or director | 5 | $0 | $0 |
990 for the year ended December 31, 2023: 26 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GLENN WELCH | PRESIDENT Officer | 45 | $447,141 | $31,171 |
| LOUIS SCUNGIO | CHIEF FINANCIAL OFFICER Officer | 45 | $220,337 | $42,773 |
| DAVID CHASE | VICE PRESIDENT OF BUSINESS Highest-paid employee | 45 | $184,420 | $37,649 |
| JEFFREY SMITH | VICE PRESIDENT OF LENDING Highest-paid employee | 45 | $185,707 | $30,970 |
| GINA NOBLIT | DIRECTOR OF HUMAN RESOURCE Highest-paid employee | 45 | $168,462 | $24,265 |
| KARA HERMAN | VICE PRESIDENT OF RETAIL A Highest-paid employee | 45 | $160,261 | $29,826 |
| CHERYL PODGORSKI | VP OPERATIONS Highest-paid employee | 45 | $161,400 | $16,094 |
| ALLEN REED | INFORMATION SECURITY OFFICER Highest-paid employee | 45 | $133,829 | $32,550 |
| JACK VADNAIS | DIRECTOR OF FINANCIAL PLA Highest-paid employee | 45 | $125,850 | $34,888 |
| LISA MISH | SENIOR MORTGAGE LOAN ORIGINATOR Highest-paid employee | 45 | $133,644 | $15,726 |
| PAMELA PATENAUDE | MORTGAGE LOAN ORIGINATOR Highest-paid employee | 45 | $108,873 | $34,863 |
| JOANNE PAGE | MANAGER Highest-paid employee | 45 | $107,263 | $21,528 |
| CHARLENE SMOLKOWICZ | MANAGER Highest-paid employee | 45 | $113,468 | $14,160 |
| JOHN SANTANIELLO | ASSISTANT VICE PRESIDENT Highest-paid employee | 45 | $122,218 | $4,162 |
| ANDREW SULLIVAN | ASSISTANT VICE PRESIDENT Highest-paid employee | 45 | $106,882 | $12,245 |
| DONALD C EMERSON | DIRECTOR Trustee or director | 5 | $2,241 | $0 |
| WILLIAM G O'BRIEN | DIRECTOR Trustee or director | 5 | $901 | $0 |
| JOHN R REIGNER | DIRECTOR Trustee or director | 5 | $861 | $0 |
| LOUIS G GUILLETTE | CHAIRPERSON/DIRECTOR Trustee or director, Officer | 10 | $0 | $0 |
| WILLIAM T CAREY | VICE CHAIRPERSON/DIRECTOR Trustee or director, Officer | 5 | $0 | $0 |
| LAWRENCE F BOULEY | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BRIAN D HARRINGTON | TREASURER/DIRECTOR Trustee or director, Officer | 5 | $0 | $0 |
| FELIX SANTANIELLO | DIRECTOR Trustee or director | 5 | $0 | $0 |
| DONALD R SENECAL | DIRECTOR Trustee or director | 5 | $0 | $0 |
| WILLIAM FLAHERTY | SECRETARY/DIRECTOR Trustee or director, Officer | 5 | $0 | $0 |
| DANIEL REIGNER | DIRECTOR Trustee or director | 5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1976 MAIN ST, SPRINGFIELD, MA 01103-1010
- In care of
- % LOUIS J SCUNGIO
- Principal officer (990 for 2025)
- LEE CRAIG, 1976 MAIN STREET, SPRINGFIELD, MA 01103
- Signed the 990
- LEE CRAIG, SENIOR VICE PRESIDENT/CFO
- Phone
- (413) 739-6961
- Website
- WWW.FREEDOM.COOP
- Return prepared by
- WHITTLESEY PC
Mission
OUR DYNAMIC, SINCERE AND HELPFUL TEAM PROVIDES MEMBERSHIP VALUE TO INDIVIDUALS AND BUSINESSES WHILE MANAGING A STABLE, COMMUNITY-MINDED FINANCIAL INSTITUTION.
Program accomplishments
- NOT REQUIRED.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-1961180
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1934
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $751,618,910
- Income (IRS master file)
- $45,734,771
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $40,594,063 | $34,808,962 | $751,618,910 | XML |
| 990 | December 2024 | $37,579,493 | $35,043,719 | $733,888,562 | XML |
| 990 | December 2023 | $34,489,002 | $30,493,956 | $738,359,654 | XML |
| 990 | December 2022 | $26,913,534 | $23,288,605 | $699,366,789 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-1961180).
Questions about FREEDOM CREDIT UNION
- What is the EIN of FREEDOM CREDIT UNION?
- The employer identification number (EIN) of FREEDOM CREDIT UNION is 04-1961180.
- Is FREEDOM CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1934.
- Are donations to FREEDOM CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does FREEDOM CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FREEDOM CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FREEDOM CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of FREEDOM CREDIT UNION?
- The 990 for the year ended December 31, 2025 names LEE CRAIG.
- Who are the officers and directors of FREEDOM CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 22 people; 12 received compensation from the organization, the highest $413,475 (GLENN WELCH, PRESIDENT).
- How much revenue does FREEDOM CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $40,594,063, expenses of $34,808,962 and total assets of $751,618,910 at year end.
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