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About Us

Who We Are

Knoxville TVA Employees Credit Union was founded in 1934 by a small group of TVA employees in the aftermath of the Great Depression. The country had just made it out of the worst economic period of the 20th century. Americans were trying to recover from one of the lowest unemployment rates in history. People were looking for places to save and borrow, and traditional banks weren’t providing what they needed. Many banks had shuttered their doors, and the ones that remained were strictly serving those with large investments. This small group of TVA employees recognized this gap and formed KTVAECU® as a financial cooperative to help the average American.  KTVAECU was built on “People Helping People,” and that philosophy has driven us through almost 100 years of growth.

KTVAECU was chartered to be a safe place to save and borrow money. And even though many years have passed since our inauguration in 1934, we remain true to those founding principles and believe more strongly than ever in the power of “People Helping People.”

We continue to introduce new services, more delivery channels, and more products to stay current and relevant to our Member base. What started as a small financial cooperative for employees of TVA has transformed into 24 branch locations serving over 200,000 Members. Throughout all the years and changes, our mission remains the same; to serve our Members and help them grow financially.

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OUR PAST, PRESENT, AND FUTURE

In our 89 years of service, we have succeeded through depressions, recessions, and inflation. During the 2008 financial crisis, while banks were failing and receiving government bailouts, we pushed through without accepting any bailouts. In the years since, we have continued to be a trustworthy financial institution for our Members.

We have grown into the third-largest credit union in the state of Tennessee. While most well-capitalized credit unions typically have a 7% net worth, our net worth is over 9%.

Throughout 2022, we remained focused on enhancing the financial well-being of our valued Members and their families. As we navigate the challenges ahead, we are very thankful for the “People Helping People” philosophy instilled in our operation by our Credit Union founders.

OUR INVESTMENT PHILOSOPHY

We aim to provide a safe place for our Members to save and borrow. At KTVAECU®, we support people and our communities, not just businesses. We do not invest in venture capital or startups. Business loans make up a very small portion of our financial portfolio and are only available to Members with which we have well-established relationships. We have less than one percent of assets invested in government bonds. These are all short in duration, with an average life of less than two years.

OUR ACCOUNTABILITY

We have several components in place to make sure your money is secure. These include financial reports and audits three times a year. A critical component of our internal control is the Internal Audit Department, which reports directly to the Supervisory Committee. Internal auditors meet bi-monthly with the Supervisory Committee to review internal and external audit reports, risk assessments, and internal control practices.

In addition to the Internal Audit Department, independent auditors are engaged to assist in meeting Supervisory Committee’s responsibilities. Examiners from the NCUA and the State of Tennessee Department of Financial Institutions also review annual statements and records.

Based on the satisfactory reports of audits performed by internal and external auditors, Knoxville TVA Employees Credit Union continues to be a financially strong and well-managed institution with sound policies and procedures. Click HERE for commonly asked questions.

2022 ANNUAL MEETING REPORT

 
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