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ECU History Timeline
1934
Established
On September 10, 1934, Tennessee Eastman Credit Union received its charter to provide financial services to employees of Tennessee Eastman Corporation.
1941-1945
Self-Sufficiency
TECU became self-sufficient from Tennessee Eastman Corporation by 1941. TECU had a unique connection to the war as many members worked at TEC's Holston Ordnance Works, the world's largest producer of explosives.
1946-1969
Growth
TECU's assets surpassed $1 million in 1946, and its services gained popularity among young Eastman families. Membership and savings grew steadily, with savings topping $10 million by 1965.
1975
Direct Deposits
Direct Deposits were offered for Social Security and retirement checks as a member convenience.
1978-1979
Name Change & Expansion
The credit union dropped 'Tennessee' from its name to prepare for expansion to other states with Eastman plant sites.
1984
Mortgage Loans & 50 Years
ECU began offering mortgage loans and celebrated its 50th anniversary with 21,715 members and $153.2 million in assets.
1986
Introduction of ATMs
ECU introduced four Money Tree ATMs and mailed 4,000 ATM cards to members, increasing accessibility.
1998
ECU's First Extraordinary Dividend
ECU's board of directors announced the first $2 million Extraordinary Dividend to borrowers and savers.
2001
$1 Billion in Assets
ECU's assets reached $1 billion.
2003
Named Peak-Performing Credit Union
ECU was named the nation's #1 Peak Performing Credit Union..
2005
Serving Communities
ECU expanded its field of membership to include more counties in Northeast Tennessee and Southwest Virginia, and East Texas.
2007
Mobile Banking
Mobile Banking was introduced to provide easier account access.
2014-2020
Best Mobile App
MagnifyMoney rated online banking apps based on user reviews from 2014 - 2020, ECU's online banking app ranked the best or among the highest each year.
2020
New Decade
ECU's newly named CEO, Kelly Price, announced Texas expansion efforts with the groundbreaking of the Pine Tree branch and support center.
2022
New Concept
ECU opened its first Curbside Branch on Clinchfield Street in Kingsport providing car-side service.
2023
Growth Milestones
ECU expanded its field of membership to include more counties in Northeast Tennessee and Southwest Virginia, and the credit union exceeded 1,000 employees, 300,000 members, and $8 billion in assets. ECU's 2023 Extraordinary Dividend brought the total returned since 1998 to $193 million.
2024
Celebrating 90 Years
Designated as the "Nation's #1 Best-Performing Credit Union" by S&P Global Market Intelligence, ECU is well positioned for the future.
