Introduction to Tennessee Credit Unions
Tennessee Credit Unions are not for profit financial cooperatives. They are woven into the communities they serve across our great state. They are your neighbors, friends, and fellow citizens with one goal: Advance Tennessee Communities. The volunteer tradition is strong within the credit union movement and each credit union member is a part of our story.
As part of our commitment to Advancing Tennessee Communities, the Tennessee Credit Union League presents The Plan to Advance Tennessee Communities in The Volunteer Tradition.
1. Access to quality broadband for all Tennesseans
As families struggle to circumvent the COVID-19 pandemic, many of us continue to adjust working from home and many families must also find the balance to juggle distance learning with their children. As telework, telehealth, and distance education continues, it has tested the ability of our residential broadband networks like never before. Having reliable internet is no longer a luxury, it is a necessity for all Tennesseans. The good news, Tennessee is looking to rebuild and be stronger than ever. Governor Lee has addressed this issue in several distressed TN counties, particularly our rural areas, that access to broadband will be a priority for his administration ensuring a victory for our rural Tennesseans.
2. Better access to capital for small businesses in Tennessee Communities
As we know, is it is essential for our small businesses to have the resources they need to grow or survive in a sudden unexpected downturn. Small businesses account for 42.3% of the jobs in Tennessee (SBA). When a business is not able to operate at full capacity, it hurts us all, especially the local communities they serve. I am proud of the response of our Tennessee credit unions, they provided over 1,380 PPP loans to small businesses averaging under 27 thousand dollars. Not only it is the right thing to do for our communities, but reaching out to these small businesses helps to position them to emerge successful from this crisis (Ian – Seeds of Change).
3. Financial Resource
When it comes down to it, providing for our families and communities is a core value for all Tennesseans. Having access to financial resources that meets the induvial is key to a productive life. Tennessee credit unions provided assistances to thousands of members and communities with customized counseling and loan programs to get people through the pandemic (Tennessee Credit Unions: Serving the Underserved).
But it’s not just the current crises we face, but rather all the challenges life throws at us at any given time. Whether saving to send our children to college, opening a new business, replacing a broken-down vehicle, or saving for retirement our credit unions are working to make each member’s financial dreams a reality. Looking at the whole person rather than the transaction makes all the difference in helping someone.
The Tennessee Credit Union League was formed in 1934 as a 501 (c) (6) non-profit trade association for Tennessee credit unions. It is the mission of the League to promote and support the success and advancement of credit unions in meeting their service and structural goals.