CONTACT: Jim Leydon, Communications Director, City of Springfield, Bill Russo-Appel, Marketing Officer, Freedom Credit Union
FREEDOM CREDIT UNION ANNOUNCES DOWNTOWN EXPANSION
August 12, 2014 -Springfield, MA- Freedom Credit Union today announced a $2.2 million expansion in downtown Springfield in a move that will help grow the company’s city headquarters.
“Freedom’s roots in our community go back almost a century; I would like to thank Freedom Credit Union for their continuing belief and investment here in the City of Springfield.” Mayor Domenic J. Sarno went on to say. “We continue to see a great deal of private investment in the city and to have one of our notable lending institutions reinvest and grow here in the downtown area is continuing proof of the Springfield renaissance.”
The credit union, headquartered at 1976 Main Street, has acquired a nearly 12,000 square foot adjacent building at 77 Boylston Street for $1,350,000 and it plans to spend $850,000 on renovations. Freedom will relocate 26 Springfield employees to that location, 16 employees from Feeding Hills, and hire an additional 13 new employees to fully staff the new facility.
“Freedom Credit Union has a history in Springfield that dates back over 90 years,” said Barry F. Crosby, CEO and President of Freedom Credit Union. “Our Board of Directors is committed to ensuring that the headquarters of the credit union remain in Springfield. With this expansion, we will continue to be a part of the Springfield community as well as all the local communities we serve.”
The credit union’s tenth branch will open this fall at the Roger L. Putnam Vocational Technical Academy. In this new branch, Freedom will employ nine high school students, train them in the field of financial services, and offer financial and savings guidance to the general high school population and Springfield as a whole.
Freedom Credit Union was originally chartered in 1922 as the Western Massachusetts Telephone Workers Credit Union. From a small office in the telephone company building on Worthington Street, the credit union grew until it moved to Main Street in 1978.
In addition to its Main Street and Putnam branches, Freedom Credit Union has locations in Sixteen Acres, Feeding Hills, Ludlow, Chicopee, Northampton, Easthampton, Greenfield, and Turners Falls.