Nonprofit · EIN 87-0253260
FREEDOM CREDIT UNION
Tax-exempt · PROVO, UT 84604
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $4,366,527 | $3,411,660 | $954,867 | $68,265,342 | $60,420,824 | $7,844,518 |
| December 31, 2024 | 990 | $3,572,134 | $3,124,730 | $447,404 | $67,258,037 | $60,422,660 | $6,835,377 |
| December 31, 2023 | 990 | $2,977,572 | $2,593,058 | $384,514 | $61,133,046 | $54,702,271 | $6,430,775 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,556,872
- Investment income
- $445,555
- Other revenue
- $364,100
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $274,387
- Other salaries and wages
- $489,696
- Salaries, compensation and benefits (total)
- $933,923
- Professional fundraising fees
- $0
- Legal fees
- $30,777
- Accounting fees
- $24,598
- Occupancy
- $96,523
- Travel
- $1,452
- Depreciation
- $136,989
- Program services (functional)
- $3,411,660
Balance sheet and other
- Total assets, start of year
- $67,258,037
- Total assets, end of year
- $68,265,342
- Total liabilities, end of year
- $60,420,824
- Net assets, end of year
- $7,844,518
- Land, buildings and equipment
- $3,792,897
- Publicly traded securities
- $11,146,294
- Gross receipts
- $4,366,527
- Employees
- 15
- Volunteers
- 8
- Year formed
- 1956
- State of legal domicile
- UT
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 |
|---|---|---|---|
| Ken Payne | President & CEO Officer, Key employee, Highest-paid employee | 40 | $169,129 |
| Suzanne M Ashby | EVP & Board Secretary Trustee or director, Key employee | 40 | $105,258 |
| Thomas Crabb | Board Chairman Trustee or director | 1 | $0 |
| Lynn Smith | Board vice Chairman Trustee or director | 1 | $0 |
| Robin Roberts | Board Member Trustee or director | 1 | $0 |
| Robert Wager | Board Member Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEN PAYNE | PRESIDENT AND CEO Officer, Key employee, Highest-paid employee | 40 | $154,622 |
| SUZANNE M ASHBY | EXECUTIVE VICE PRESIDENT Key employee | 0 | $93,975 |
| THOMAS CRABB | BOARD CHAIRMAN Trustee or director | 1 | $0 |
| LYNN SMITH | BOARD VICE CHAIRMAN Trustee or director | 1 | $0 |
| ROBIN ROBERTS | BOARD SECRETARY Trustee or director | 1 | $0 |
| ROBERT WAGER | BOARD MEMBER Trustee or director | 1 | $0 |
| KARL GOLDING | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEN PAYNE | PRESIDENT AND CEO Officer | 40 | $156,022 |
| ROBERT WAGER | BOARD MEMBER Trustee or director | 1 | $0 |
| KARL GOLDING | BOARD MEMBER Trustee or director | 1 | $0 |
| ROBIN ROBERTS | BOARD SECRETARY Trustee or director | 1 | $0 |
| THOMAS CRABB | BOARD CHAIRMAN Trustee or director | 1 | $0 |
| LYNN SMITH | BOARD VICE CHAIRMAN Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 815 N FREEDOM BLVD, PROVO, UT 84604-3315
- In care of
- % KEN PAYNE
- Signed the 990
- KEN PAYNE, President & CEO
- Phone
- (801) 375-2120
- Website
- www.freedomcu.com
- Return prepared by
- Robert Wager LLC
Mission
Provide a full range of financial services to members of the credit union. The credit union currently services members primarily located in Utah County, Utah.
Program accomplishments
- Total program service expenses.Expenses $3,411,660
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
- 87-0253260
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1956
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1349: CREDIT UNIONS CHARTERED IN THE STATE OF UTAH
- Assets (IRS master file)
- $68,265,342
- Income (IRS master file)
- $4,366,527
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $4,366,527 | $3,411,660 | $68,265,342 | IRS |
| 990 | December 2024 | $3,572,134 | $3,124,730 | $67,258,037 | XML |
| 990 | December 2023 | $2,977,572 | $2,593,058 | $61,133,046 | XML |
| 990 | December 2022 | $2,318,403 | $1,907,602 | $63,162,368 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 87-0253260).
Questions about FREEDOM CREDIT UNION
- What is the EIN of FREEDOM CREDIT UNION?
- The employer identification number (EIN) of FREEDOM CREDIT UNION is 87-0253260.
- Is FREEDOM CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1956.
- 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 are the officers and directors of FREEDOM CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 6 people; 2 received compensation from the organization, the highest $169,129 (Ken Payne, President & CEO).
- How much revenue does FREEDOM CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $4,366,527, expenses of $3,411,660 and total assets of $68,265,342 at year end.
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