When UT Federal Credit Union (UTFCU) opened for business 40 years ago on the campus of the University of Tennessee, Knoxville, the founding members could not have imagined the growth the credit union would achieve in such a short time. Now, the Knoxville-based credit union comes full circle as UTFCU announces plans to open a new branch in the Carolyn P. Brown Memorial University Center on the campus of UTK, making it the only bank on campus.
The facility will be a full-service location offering checking, savings, loans, and check cashing. UTFCU operates five ATMs on campus, including one outside the University Center on the â€˜Money Wall.â€™ Other ATM locations are at Thompson-Boling Arena, Greve Hall, the Library on the Ag Campus, and the Conference Center on Henley Street.
Although UTFCU was originally located on campus in a house on Andy Holt Avenue, the credit union moved several times in the early years, and finally outgrew UTK-supported accommodations in the early 1990s. Today, with more than 70 employees who provide services including mortgages, consumer loans, credit and debit cards, and the infrastructure to support more than 25,000 members, the corporate office and Main Branch of UTFCU occupies a three-story building, completed in 2006, just off campus at 2100 White Avenue. With the Fall 2009 opening of the University Center branch, this brings the total number of UTFCU branches to five which are located on or within walking distance of the UT campuses in Knoxville, UT Martin, UT Health Science Center in Memphis, and UT Medical Center.
â€œWe are pleased to return home to the UT Knoxville campus with a full-service branch at the University Center. UTFCU serves more than 11,000 members who have ties to the university. This branch will offer greater convenience to our current members who are located on campus. Weâ€™ll be able to provide a better banking experience to existing members while reaching out to even more new members,â€ said Debbie Jones, UT Federal Credit Union President, and CEO. â€œUTFCU supports students through scholarships and educational seminars for financial planning, and we look forward to this expanding opportunity to assist students in making sound financial decisions.â€
About UT Federal Credit Union
UT Federal Credit Union was founded on the philosophy that a credit union is a financial cooperative owned by members who share a common interest such as work, education, or association. Today, UT Federal Credit Union has more than 25,000 members and assets of over $167 million. In 2007, UTFCU was granted a Community Charter allowing anyone who lives, works, regularly conducts business, worships or attends school in Knox, Anderson, Blount, Loudon, and Union counties to join the credit union. With the opening of this location, UTFCU will have six branches in Knox County at 2100 White Avenue, the University Center, UT Hospital, Franklin Square, Renaissance Farragut, and on East Emory Road in Powell. Additionally, two more branches are located in Martin and Memphis. The heart of a credit union is its membership and as such, UT Federal Credit Union seeks to encourage savings, provide members with access to lower-cost loans, and support the financial well-being of its members. For more information on UT Federal Credit Union visit utfcu.org.