REGULATING AGENCY: Tennessee Department of Financial Institutions; Credit Union Division

Tennessee State Capitol


LEAGUE: Tennessee Credit Union League


2023 STATS 
  • Largest SCU: EASTMAN CU $7.67B in assets
  • Largest FCU: ASCEND FCU $4.15B in assets
Second Quarter 2023 SCUs FCUs Total CUs % of SCUs/Total
Total Credit Unions 74 57 131 56.49%
Credit Union Members 1.26M 1.34M 2.60M 48.56%
Credit Union Assets $19.90B $19.80B $39.70B 50.12%


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With New DAO Law on the Books, Utah Joins Race with Wyoming and Tennessee to Become U.S. “Crypto Capital”
Courtesy of Proskauer Rose LLP, National Law Review, Volume XIII, Number 146

June 2, 2023 — Little-known legal trivia: In 1977 Wyoming was the first state to pioneer the LLC, which is now a commonly applied legal innovation. Fast forward more than forty years…in July 2021, Wyoming again tried to be at the vanguard of new corporate formations and passed legislation that recognized decentralized autonomous organizations, or DAOs, as legally distinct business entities, with protections for token holders similar to those offered to corporation stockholders or limited liability company members. Wyoming may have jumped off the blocks first, but Tennessee and Utah are not far behind. Recently, on March 1, 2023, the Utah Legislature passed HB 357 (codified at Utah Code Ann. §48-5-101-406), the “Utah Decentralized Autonomous Organizations Act” (the “Utah Law”).


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