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Eastman Credit Union (ECU) is a credit union headquartered in Kingsport, Tennessee, that is insured by the National Credit Union Administration. It was founded in 1934, originally to serve employees of the Tennessee Eastman Chemical Company. In 2005, it expanded to a community charter, opening membership to the wider community. [1]
The credit union began with $437 in assets and 17 members and was first operated from the basement of Raleigh's Agriculture Building. [6] By 1960, the credit union grew to serve over 70,000 members and had assets of almost $25 million. [7] By 2022, State Employees' Credit Union had grown to over $53.1 Billion in assets and 2.7 million members.
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Kingsport is a city in Sullivan and Hawkins counties in the U.S. state of Tennessee.As of the 2020 census, its population was 55,442. [6] Lying along the Holston River, Kingsport is commonly included in what is known as the Mountain Empire, which spans a portion of southwest Virginia and the mountainous counties in northeastern Tennessee.
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The department is responsible for regulating Tennessee's banking system, including state-chartered banks and credit unions, and handling consumer complaints involving state regulated financial institutions. The department is divided into the Administrative/Legal Division, Bank Division, Compliance Division, Consumer Resources Division, and the ...
The Credit Union relocated its main office across MSU’s campus to 600 E Crescent Road in 1971, as its membership and assets continued to increase. [ citation needed ] MSUFCU was state-chartered until 1979, when it obtained a federal charter and adopted its current name.
TDFCU and several other credit unions were victimized when U.S. Mortgage Corporation sold mortgages that it managed on behalf of the credit union to Fannie Mae and kept the money. [2] TDFCU lost more than $500,000 in the first nine months of 2008, and some other District of Columbia credit unions also experienced losses. [3] [4]