Our Story
Over 90 Years of Service
Our Roots Run Deep
Our story begins in 1934, in the aftermath of the Great Depression.
In the mid 30’s, most of the country still felt the effects of the stock market crash, and had few resources to help them rebuild. Banks were shuttered across the nation. Those that remained open often served only wealthy investors.
Times were hard, but there was hope. In East Tennessee, the Tennessee Valley Authority opened and brought jobs and economic opportunity. As TVA expanded, employees needed a place they could trust to save and borrow. TVA employees banded together to form a credit union, a cooperative financial institution where all Members work together to benefit each other.
On February 21, 1934, TVA employees in Knoxville chartered Knoxville TVA Employees Credit Union. At first, Members were not allowed to have more than $1,000.00 in savings. The maximum loan to any Member was $100.00, and a signature loan could not exceed $30.00.
Charles Hoffman ran our first office, all from his desk on the third floor of the Sprankle Building, and business was only open one day a week. But in just one year, we grew to 300 Members. As we grew, we started to partner with area businesses and organizations, and provided volunteer work to local schools and organizations.
Now, after 90 years, Knoxville TVA Employees Credit Union serves most of East Tennessee. We’ve grown to a membership of more than 300,000 and expanded branch locations in the following counties: Blount, Hamblen, Jefferson, Knox, Loudon, Roane, Sevier, and Sullivan, as well as Johnson City! From our first days to our present, we’ve exemplified the spirit of helpfulness, generosity, and service at the heart of the Volunteer state.
Our Values
We live, work, worship, and raise our families in the same communities as you. We’re your neighbors and trusted financial partners, deeply rooted in our Appalachian values and local history. With service at the core of what we do, our embers have relied on our services for nearly a century.
Our Mission
To help our members grow financially.
Our Vision
To be members’ first choice for all financial services.
Our Purpose
To help generations of members on their financial journeys.
Our Service Attitude
People Helping People, Members Helping Members.
Our Commitment
Not for profit, but for service.
How We Keep Your Money Safe
Members have relied on KTVAECU® for nearly a century, and they continue to trust us to protect their money today and long into the future.
Our Past, Present, and Future
For more than 90 years, Knoxville TVA Employees Credit Union has helped Members across East Tennessee save, borrow, and build stronger financial futures. While most well-capitalized credit unions typically have a 7% net worth, our net worth is over 10%. That strength has been built over decades of responsible financial management and a consistent focus on the people we serve. Our Credit Union has successfully navigated depressions, recessions, periods of inflation, and the 2008 financial crisis without relying on government bailouts. Through every period of economic change, we have remained focused on protecting our Members, supporting their financial well-being, and making decisions with long-term stability in mind. As we look toward the future, we will continue building on that foundation while staying true to the “People Helping People” philosophy that has guided Knoxville TVA Employees Credit Union from the beginning.
Our Investment Philosophy
Strong financial oversight helps protect our Members and the money they entrust to Knoxville TVA Employees Credit Union. Our Internal Audit Department conducts audits throughout the year and meets bi-monthly with the Supervisory Committee to review audit findings, risk assessments, and internal controls. Independent auditors provide additional oversight, while examiners from the National Credit Union Administration (NCUA) and Tennessee Department of Financial Institutions review our financial statements, records, policies, and practices. Together, these layers of internal, independent, and regulatory oversight help ensure we continue managing risk responsibly. Based on ongoing reviews and assessments, Knoxville TVA Employees Credit Union continues to maintain a strong financial position supported by sound policies, procedures, internal controls, and responsible financial management.
Our Accountability
Strong financial oversight helps protect our Members and the money they entrust to Knoxville TVA Employees Credit Union. Our Internal Audit Department conducts audits throughout the year and meets bi-monthly with the Supervisory Committee to review audit findings, risk assessments, and internal controls. Independent auditors provide additional oversight, while examiners from the National Credit Union Administration (NCUA) and Tennessee Department of Financial Institutions review our financial statements, records, policies, and practices. Together, these layers of internal, independent, and regulatory oversight help ensure we continue managing risk responsibly. Based on ongoing reviews and assessments, Knoxville TVA Employees Credit Union continues to maintain a strong financial position supported by sound policies, procedures, internal controls, and responsible financial management.
Our Timeline
1934
The State of Tennessee Charter of Incorporation was signed on February 15, 1934.
1935
We reached $7,500 in savings, $5,200 in loans, and 300 Members.
1959
We grew to over one million in assets.
1976
Our first branch opened and was shared between us, ORNL, and K-25 Federal Credit Union.
1981
We opened our first call center.
1984
We celebrated 50 years of service and reached over one million in assets and 30,000+ Members.
1989
We opened our Downtown Knoxville Branch at Wall Avenue, with the upper level dedicated to our Main Office.
1994
We established our Indirect Lending Department with “Ask for it!” financing at dealerships.
1999
We launched WAVE, our precursor to digital banking.
2003
We expanded to serve the following East Tennessee counties: Blount, Hamblen, Jefferson, Knox, Loudon, Roane, Sevier, and Sullivan.
2008
We launched online banking.
2009
We celebrated our 75th year of service, and reached over $825 million in assets.
2011
We reached over $1 Billion in assets.
2014
We launched our first mobile app.
2018
We expanded to 23 branches in East Tennessee with Mountain Lakes Community Credit Union Merger.
2020
We opened our Centerpoint Operations Center, the new main office support location.
We’re Ranked in the Top 15 Credit Unions for Member Service
Callahan & Associates, a credit union research and consulting firm based in Washington, DC, recently released a list of credit unions that provide the most value to members. We’re excited to share what our Members already experience every day: we’re among the Top 15 Credit Unions for Member Service nationwide.
Callahan & Associates ranks credit union member service using their Return To Member (ROM) system. Their rankings go beyond regulatory compliance, and measure what credit unions provide to their members, such as Return to Savers, Return to Borrowers, and Member Participation. After their evaluation, Callahan & Associates ranked us as 13th in the nation!
We’re thrilled that Callahan & Associates has recognized the value we provide to our members. But more than that, we’re proud to live up to the philosophy at the heart of what we do: “People Helping People.”
Our Leadership
2026 Board of Directors
Bill Bonham
Howard Rosser
Jan Cable
Mitchell Weaver
Sherry Vermillion
Steve Hillenbrand
Tim Haynes
Tom Heffernan
Veenita Bisaria
2026 Supervisory Committee
Andrea Brackett
Eric Davis
Paul Ivie
Honorary Lifetime Members
Carl Mills
LeRoy Rogers
Ray Pack
Financials, Newsletters, and Annual Reports
Financials
(September 2026)
312,602
Members
$5,359,310,780.85
Assets
$4,380,888,047.64
Loans
$4,606,602,301.86
Savings
Who is NCUA?
Like banks, credit unions are federally insured. The NCUA, or National Credit Union Administration, is an independent government agency that insures deposits, protects members, and regulates federal credit unions. The NCUA protects credit unions the same way that the Federal Deposit Insurance Corporation (FDIC) protects banks. This protection means that credit unions are just as safe as traditional banks. The NCUA insures $250,000.00 per share owner, per insured credit union, for each account ownership category. Click here to calculate your insurance coverage, or use the button to find out more about NCUA coverage.