Freedom First credit union CEO to retire in 2026

After more than a quarter-century with the credit union that is now Freedom First, Paul Phillips will retire as president and CEO at the end of 2026, according to a Wednesday announcement.

He will be succeeded by Linda Johnson, currently the Roanoke-headquartered credit union’s CFO.

“It has been one of the greatest honors of my life to lead Freedom First alongside such dedicated and talented individuals,” Phillips stated in a news release.

Phillips joined Roanoke GE Federal Credit Union, which, at that time, served employees of Roanoke Electric Steel and General Electric, in 1998 as vice president of lending. In 2000, he was named president and CEO.

In 2002,  the credit union converted from a select employee group charter to a community charter serving the Roanoke area. The next year, its leaders gave it its current name.

Freedom First had 62,702 members at the end of 2024.

“We’re grateful for Paul’s impactful leadership, vision and the strong foundation he’s built for the future,” David Lowen, chair of the credit union’s board, stated in a press release. “Paul’s dedication to serve our members and the community is one of the reasons we’ve grown to become the largest locally owned and operated financial institution in Roanoke.”

Johnson joined Freedom First in 2008 as a senior vice president of accounting and finance. She’s been a member of the credit union’s leadership team for the past 11 years and was promoted to her current role in 2020.

During Johnson’s tenure, she helped grow the credit union’s assets from $248 million to about $1.2 billion, according to Freedom First.

Johnson holds a dual bachelor’s degree in business administration and management from the University of Phoenix. She earned a master’s degree in finance and accounting from the the University of Maryland Global Campus.

“Linda’s leadership, expertise and passion for Freedom First’s members, employees and mission made it clear she is far and away the best person for the job,” Lowen stated in the news release.

Today, Freedom First serves an area covering 22 counties and 10 cities across Virginia with 14 branches.