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One hundred years ago, in the great state of Tennessee, state-chartered credit unions were created and placed under the supervision of the Superintendent of Banks. Since then, credit unions have been advancing communities in the Volunteer State.
Tennessee credit unions advance the lives of their members through good and bad times. They work to help Tennesseans build their dreams, protect their homes, start and expand local businesses, and bond our communities together. This week, Northeast Community Credit Union is privileged to celebrate 100 years of credit union-fostered prosperity in Tennessee.
Today, Tennessee has 132 credit unions with 2.4 million total credit union members generating a $2.9 billion economic impact. A lot has changed in the last 100 years, and credit unions have been there for their members every step of the way.
On March 23, 1923, then-Governor Austin Peay signed the bill establishing state-chartered credit unions. The first credit union in Tennessee was chartered on June 1, 1924, in Monteagle – Summerfield Credit Union served a school district in a community of mountain farmers. Northeast Community Credit Union was chartered in 1952 and serves Carter, Johnson, Unicoi, Sullivan and Washington counties with branches in Elizabethton, Johnson City, and Roan Mountain.
Credit unions across the state are still making a difference in the lives of their members and Northeast Community Credit Union, which is one of the safest and strongest financial institutions in the USA, continues making a difference in Northeast Tennessee. More information can be found at BeMyCU.org.