I agree, the above certainly is not clear. I was not aware of how unclear it was in their statement of faith.
I got my information from other sources. One was a FW Baptist pastor who was very explicit about it.
Another source is from a question and answer website on FW Baptist. Here is the answer to this type of question:
"We are called Free Will Baptists because we believe in "free will, free grace, and free salvation." Because man has the free will to choose to respond to God's call and repent and be saved, we also believe man can choose to turn away from God. Was not Judas one of Christ's followers, who chose to turn away? and for a post-resurrection example, try I Timothy 1:19-20, where Paul mentions those that made "ship-wreck" of their faith. Free Will Baptists separated from Baptists because we would not subscribe to the doctrine of "eternal security" that salvation, once received, could never be forfeited, no matter what the person did. While we do not believe that committing a sin forfeits your salvation, we believe it is possible for a person to turn their back on their faith, by returning to a sinful lifestyle. It is a choice they make, not God "withdrawing their salvation." And I don't think that (or hope that it's not) this is often the case. We believe it is an important point however, because believers should not think their actions are irrelevant to their faith. As James wrote "Even so faith, if it hath not works, is dead, being alone.""
Another of my sources is from Dr. Stephen Ashby, assistant professor of philosophy and religeous studies and Ball State University in a book entitlee "Four views on Eternal Security" published by Zondervan. He writes: Reformed (Classic) Arminians hold that rejection of faith in Christ, and that alone, removes one from union with Christ. But short of that solitary act of apostasy, the believer is to be found in union with Christ and thus stands justified in the merits of Christ alone." Page 187.
I think the information I have provided clarifies the issue, but I admit that their statement can be interpreted either way.