Freedom First Credit Union announced Wednesday that longtime President/CEO Paul Phillips will retire at the end of 2026, concluding a 25-year tenure that transformed the institution into the largest locally owned financial institution in the Roanoke region.
Phillips, who joined the credit union in 2001, oversaw major membership and market expansion while strengthening Freedom First’s reputation for community service and financial inclusion. “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,” Board Chair David Lowen said.
Following a nationwide search conducted by DDJ Myers, the board selected Linda Johnson, the credit union’s CFO, as the next CEO. Johnson will transition into the role ahead of Phillips’ retirement on Dec. 31, 2026.
Johnson joined Freedom First 11 years ago and has played a key role in the credit union’s growth, helping expand assets from $248 million to $1.2 billion, while leading initiatives in finance, talent development and AI-driven innovation. She holds a bachelor’s degree in business administration and management and a master’s degree in finance and accounting.
“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 said.
Johnson called the opportunity “an honor,” adding: “Staying grounded in our mission, local commitment and serving our members, employees, and communities will continue to propel us forward.”
Phillips said he leaves knowing the credit union’s future is secure: “I do so with great confidence that Freedom First is in excellent hands under Linda’s leadership and know that she will carry our mission forward.”
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