During the deepest months of the Great Depression, in February of 1932, seven Knoxville City Schools teachers each decided to pool their resources to start a credit union and deposited $5 into it. The purpose of the credit union was to provide a resource for teachers to call on in times of need. For many years the credit union had no office to call home; all credit union business was actually carried out from the briefcase of the first treasurer/manager.

Since those humble first days, Knoxville Teachers Federal Credit Union has grown into one of the largest credit unions in Tennessee, while still holding true to our original charter - serving Knoxville area school employees and their families. Our members are served from a network of eleven offices throughout Knox and Anderson counties, as well as offering a 24 Hour Telephone Teller and an internet-based Virtual Branch.

Services offered include high-rate federally insured savings (shares), competitive consumer and mortgage loan rates for any good purpose, dividend-earning share draft checking, ATM and Visa CheckCards, low-rate auto loans, auto pricing guides, internet-based bill payment, eStatements, and limited financial counseling.

Do I Qualify?

Knoxville Teachers Federal Credit Union is chartered to serve a field of membership consisting of teachers and other employees of Knox County Schools, as well as public, private, and parochial schools in Knox and surrounding counties.

A growing number of our members are employed by Anderson County Schools, Clinton City Schools, and Oak Ridge Schools. Immediate family members of qualifying employees may also join the credit union, whether or not the individual qualifying them is a member. (Immediate family members are defined as someone you have lived with in the same home at some point in your life, such as mothers, fathers, sisters, brothers, sons and daughters.)

Other than the field of membership qualifications, the only requirement for membership is that each member maintain a minimum balance in the primary shares (savings) account of $250.00. The minimum may be satisfied by a payroll deduction plan of $20 per month, and is waived for minors. Dividends are paid on all funds on deposit, including the minimum balance, and any funds on deposit above $250 may be deposited and withdrawn with no restrictions. Once full membership is attained, all of the services of the credit union become available, from "The World's Best Share Draft" checking to insured IRA's to loans for almost any purpose.

Member Owned

Your are more than a member, you are a part owner!

Your vote counts. A volunteer board of directors is elected by members to manage a credit union.


Credit unions operate to promote the well-being of their members.

Profits made by credit unions are returned back to members in the form of reduced fees, higher savings rates and lower loan rates.


Members of a credit union share a common bond, also known as the credit union’s “field of membership.” Our field of membership is School Employees and their families.


The cooperative structure of credit unions creates a cycle of mutual assistance towards the common goal of the financial well-being of members.

One member’s savings becomes another member’s loan.