Tennessee

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

Tennessee State Capitol

ACCREDITED: 1995

LEAGUE: Tennessee Credit Union League

PRIVATE SHARE INSURANCE: No

STATS: (As of Q4 2021)

Total Number of Credit Unions: 134

  • TOTAL # SCUs: 75
  • TOTAL # FCUs: 59
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 56%

Total Assets: $36,108,602,199

  • TOTAL $ SCU ASSETS: $18,105,003,204
  • TOTAL $ FCU ASSETS: $18,003,598,995
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 50%

Total Members: 2,465,369

  • TOTAL Members SCUs: 1,182,423
  • TOTAL Members FCUs: 1,282,946
  • SCU % OF TOTAL (SCUS/STATE TOAL): 48%

FUN FACT: Nashville’s Grand Ole Opry hosts the longest continuously running live radio program in the world, broadcast every weekend since 1925.


RECENT NEWS

Advocacy Update-Wrap Up of 2021

January 5, 2022 — The past year saw many legislative victories for credit unions. Credit union advocates were prepared, ready and active throughout 2021 and made a big difference. Let’s look back on a few of the victories from 2021:

In Nashville

Interchange:  The League teamed up with Bankers Association and card companies to defeat legislation for the second consecutive year that would remove state and local sales tax from calculation of interchange fees, protecting 10% of Tennessee credit unions interchange income. This issue is far from over as the Bill has been rolled to the first calendar of 2022. We will be fighting interchange again this year and need our credit union advocates ready!

C-PACE:  The League was able to work to amend legislation authorizing municipal backed Commercial-PACE loans to not sit ahead of the first mortgage in lien priority. This is key for our credit unions to keep their right position in the lien priority structure.

Covid-19: The League joined forces with other business groups to help ensure limited liability to credit unions in regards to COVID-19 exposure with exception for cases of gross negligence.

READ MORE


STORY ARCHIVE:
Click here to take a look at the stories that have been collected over the years in Tennessee.

What’s new in your state?
Click here to submit your state-chartered credit union news stories to NASCUS today!