Every day is a celebration when you’re a Member of Knoxville TVA Employees Credit Union, but on the third Thursday of October, we celebrate International Credit Union Day. On this day, we celebrate what makes credit unions special. In the spirit of the holiday, we want to look back at a little KTVAECU® history and how our values have carried over into the future.
The credit union movement began in Germany over 100 years ago. The idea was simple: rather than trusting large banks to save and borrow, citizens banded together to form a financial cooperative where they could borrow from each other. The idea was to create a financial institution that served the community over making a profit.
In 1934, in the aftermath of the Great Depression, traditional banks were focused on remaining solvent in the financially and economically difficult times. Banks essentially catered to customers with higher investments and profits, and the common person had a challenging time finding financial help. It was in this setting where a small group of TVA employees created a safe place for people to borrow and save money, a financial cooperative that would provide financial services to everyday people. In need of finding a safe place to share and grow their money, KTVAECU® was chartered!
We have grown quite a bit since our founding. We now have over 200,000 Members supported by 24 branch locations throughout East Tennessee. We have advanced technologically, continually adding more convenience and services to online banking and our mobile app. Even with this growth, our founding values of “People Helping People” remain strong. Now, we are even more committed to serving our Members through meaningful services, competitive rates, and the robust relationships we have built with individuals and within our communities. Our presence in the community is more prevalent than ever because we recognize the importance of giving back to the people who have helped us grow. We hold many community events throughout the year and have formed long-lasting partnerships with several prominent foundations including but not limited to Mission of Hope, Zoo Knoxville, Legacy Parks, and ETSU.
When you’re a Member at KTVAECU, you’re so much more than a number. You’re a part of our Credit Union family and a part of the overall credit union movement. Every Member has a voice, whether they have $5 or $5 million.
On this year’s International Credit Union Day, let’s come together, celebrate our roots, and cheer on the limitless future ahead of us.
