What Clinchfield Federal Credit Union does

Clinchfield Federal Credit Union is a federally chartered, member-owned cooperative credit union headquartered in Erwin, Tennessee, founded in 1947 to serve Clinchfield Railroad workers. The credit union now operates as a Community Development Financial Institution (CDFI) with Low Income Designated Charter status, serving over 6,700 members across Unicoi County and parts of Washington, Sullivan, Carter, and Johnson Counties in Tennessee, plus Madison and Mitchell Counties in North Carolina. Its field-of-membership is anchored by Select Employee Group partnerships with approximately 40+ regional employers including CSX Transportation, BWXT, the U.S. Postal Service, and the Unicoi County Board of Education, supplemented by family-membership eligibility that extends reach into member households.

The credit union delivers a full suite of consumer financial products: deposit accounts (Share Savings, Share Draft Checking, Christmas Club, IRA, and Share Certificates at 3-60 month terms), a comprehensive lending book (first mortgages with fixed and adjustable rates starting at 4.99% APR, HELOCs, vehicle loans at 4.90%-15.15% APR, recreational loans, Visa credit cards at 9.90%-12.90% APR, signature loans, and a small-dollar "MinuteMoney" product at 27% APR with no credit check), wealth management advisory through Credit Union Wealth Group with custody at Altruist Financial, and insurance products (TruStage auto/home and AD&D). Digital channels are delivered through a Fiserv-powered mobile and online banking platform supporting mobile check deposit, card controls, Apple Pay/Google Pay, and third-party MessagePay loan payments. In-person service is anchored by a single branch at 1038 N. Main Avenue, Erwin, TN, with a satellite student branch at Unicoi County High School.

Revenue is generated primarily through net interest income on the loan portfolio, with secondary streams from service fees (skip-a-pay, MessagePay, notary, wires, Visa gift cards), interchange on Visa credit card transactions, and referral-based affiliate income from wealth management, student lending (Sallie Mae), and insurance (TruStage). Member retention is reinforced by the Member Loyalty Rewards program, which discounts loan rates by up to 0.50% for members utilizing multiple services. Marketing relies on community presence, social media, a monthly newsletter, and word-of-mouth rather than paid acquisition channels.

Name

Clinchfield Federal Credit Union

Legal name

Clinchfield Federal Credit Union

Website

https://clinchfieldcu.com

Company type

Private

Founded year

1947

Operating status

Operating

Headcount range

11–50 employees

Short description

Clinchfield Federal Credit Union is a federally chartered, CDFI-designated member-owned cooperative in Erwin, Tennessee, serving 6,700+ members across a seven-county TN/NC region with consumer deposits, mortgage, vehicle, and small-dollar lending, delivered through a single branch, a Fiserv-powered mobile/online platform, and employer Select Employee Group partnerships.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130), Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending products
• Credit union membership
• Mobile banking services
• Community development finance

Headquarters

HQ city

Erwin

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income on Loans: Primary revenue stream from consumer loans, vehicle loans, mortgage loans, recreational loans, and personal loans. Interest rates vary by loan type and creditworthiness, ranging from approximately 4.90% to 18.00% APR.
2. Service Fees: Various fees including $25 skip-a-pay fee, $5.99 MessagePay transaction fee, $3.50 Visa gift card fee, $20 MinuteMoney application fee, notary service fees, and wire transfer fees.
3. Wealth Management Referral: Referral arrangements with Credit Union Wealth Group for investment and financial planning services. Investment accounts custodied at Altruist Financial, LLC. The credit union receives compensation for referrals.
4. Credit Card Interchange: Visa credit card program with rates ranging from 9.90% to 12.90%. Revenue generated through interest on outstanding balances and interchange fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Clinchfield Federal Credit Union is a federally chartered, member-owned cooperative that provides retail consumer banking products and services. Its core offerings include share savings, share draft checking, Christmas club, IRA, and share certificate deposit accounts, along with a broad consumer lending portfolio covering first and second mortgages, HELOCs, vehicle, recreational, personal, credit card, and small-dollar (MinuteMoney) loans. Members access these products through a branch in Erwin, TN, a Fiserv-powered mobile and online banking platform, and wealth management and insurance programs offered through partner institutions.

Product overview

Clinchfield Federal Credit Union offers a comprehensive suite of financial products and services through a multi-channel approach combining branch banking, mobile app, and online banking. The core offerings include deposit accounts (Share Savings, Share Draft Checking, Christmas Club, IRA, and Share Certificates) and lending products (mortgages including HELOC, vehicle loans, recreational loans, credit cards, personal loans, and MinuteMoney small dollar loans). Digital banking services are delivered through a Fiserv-powered mobile app with Apple Pay/Google Pay integration, mobile check deposit, and card controls. The credit union also provides wealth management advisory services through Credit Union Wealth Group, insurance products via TruStage partnerships, loan protection products (Debt Protection, GAP, Mechanical Breakdown Protection), and student loans through Sallie Mae. The Member Loyalty Rewards program incentivizes engagement by offering rate discounts for using multiple services.

Differentiator

Problem solved

Functional benefit

Products and services

• Share (Savings) Account Primary savings account representing member ownership in the credit union. Requires $25 minimum balance with quarterly dividend payments at 0.30% APR / 0.30% APY on balances of $25 and over.
• Share Draft (Checking) Account Fee-free checking account with a free Mastercard debit card and access to electronic services such as online and mobile banking, bill pay, and ATM usage.
• Christmas Club Account Seasonal savings account designed to help members save for holiday expenses, with $5 minimum balance, quarterly dividend crediting, and automatic fund transfers in November.
• Individual Retirement Account (IRA) Tax-deferred retirement savings plan with Traditional IRA options and 401K rollover capabilities.
• Share Certificate (CD) Certificate of deposit with terms of 3 to 60 months earning higher interest rates than regular share accounts, requiring a $1,000 minimum deposit and subject to early withdrawal penalties.
• First Mortgage Loans In-house fixed and adjustable rate financing for home purchases and refinancing based on up to 80% of appraised value, with simple interest and no prepayment penalties. Terms from 10 to 30 years.
• Home Equity Line of Credit (HELOC) Variable-rate credit line secured by home equity with a 20-year term, 10-year draw period, and 10-year principal and interest payback. Interest-only payments during the first 10 years; rate tied to Wall Street Journal Prime.
• Construction to Permanent Mortgage Financing for home construction with fixed and adjustable rate options up to 30 years, converting to permanent mortgage financing.
• Land/Vacant Property Loans Loans for unimproved property based on up to 75% of appraised value, with fixed rates and terms up to 15 years.
• Investment/Rental Property Loans Financing for residential investment properties of 1 to 4 units based on up to 80% of appraised value, with terms up to 15 years.
• Vehicle Loans New and used vehicle financing with pre-approval options and refinancing available for existing loans, including up to 125% financing on vehicles five years or newer.
• Recreational Loans Loans for RVs, boats, motorcycles, ATVs, and UTVs with terms up to 180 months for campers and motorhomes.
• Visa Rewards Credit Card Credit card with rewards program, no annual fee, and balance transfer options including a 2.99% introductory rate for six months. Rates range from 9.90% to 12.90%.
• Signature/Personal Loans Unsecured personal loans with competitive rates and terms up to 60 months, including signature and co-signer options.
• Ready Line of Credit Revolving credit line with access up to $7,000 for overdraft protection, emergencies, or cash flow needs.
• MinuteMoney Small Dollar Loan Small dollar loans between $200 and $1,500 with terms up to 12 months, no credit check required, instant loan decision, $20 application fee, and 27% interest rate. Requires six months of membership.
• Build Your Credit Loans Credit-building loans for young adults with monthly payments reported to credit bureaus, with loan proceeds funded into a certificate at term end.
• Sallie Mae Student Loans Private student loans offered in partnership with Sallie Mae Bank for undergraduate and career training students, with competitive interest rates, multiple repayment options, no origination fees, and no prepayment penalty.
• Mobile Banking App Free mobile application for iOS and Android providing account access, fund transfers, loan payments, bill pay, mobile check deposit, card management, and fraud alerts. Powered by Fiserv.
• Apple Pay and Google Pay Mobile payment integration allowing members to complete purchases with CFCU debit cards via digital wallets.
• Mobile Check Deposit Remote deposit capture allowing members to deposit checks by photographing them through the mobile app, with funds available same day during business hours.
• Card Controls Mastercard debit card management feature enabling users to turn cards on/off, set spending limits, receive transaction alerts, track merchants, and manage travel notices through the mobile app.
• Fraud Text Alerts Free fraud detection service that sends text alerts to members about suspicious debit card activity, with reply-based confirmation or denial of transactions.
• MessagePay Service Third-party loan payment service allowing payments from any bank or credit union via debit card or ACH. Includes scheduled payments and past-due reminders via text. $5.99 transaction fee per payment.
• Wealth Management Services Financial planning and investment management advisory services offered to members through Credit Union Wealth Group, with investment accounts custodied at Altruist Financial, LLC.
• TruStage Auto & Home Insurance Auto and home insurance program offered through TruStage with discounted rates for credit union members.
• TruStage Accidental Death & Dismemberment Insurance No-cost AD&D coverage providing $1,000 benefit, with optional additional coverage available starting at approximately $1 per month per $10,000.
• Debt Protection Credit life and disability protection for loans offered through Life Plus, covering loan payments in case of job loss, disability, or death.
• GAP Insurance Guaranteed Asset Protection offered through ASG Results that pays the difference between insurance settlement and outstanding loan balance if a vehicle is totaled or stolen.
• Mechanical Breakdown Protection Extended warranty coverage for vehicle mechanical and electrical failures offered through ASG Results, with options including roadside assistance, rental vehicle, tire road hazard, and trip interruption benefits.

Quantifiable outcome

• Over 6,700 members served
• +3 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Credit Union Wealth GroupcoreStrategic or Co-development PartnerWealth management and financial planning services offered through Credit Union Wealth Group. Financial advisors Michael McDermott and Evan Kulak serve CFCU members with dedicated advisory services including financial planning, investment management, and retirement planning. Investment accounts are custodied at Altruist Financial, LLC, member FINRA/SIPC. The credit union receives referral compensation for member referrals.
• Altruist Financial, LLCcoreTechnology or IntegrationIndependent broker-dealer serving as custodian for investment accounts managed through Credit Union Wealth Group. Member FINRA/SIPC, providing regulatory protection and custodial services for member investment portfolios.
• TruStage InsurancecoreGTM or Marketing PartnerTruStage Auto & Home Insurance Program offers discounted rates for credit union members on car and home insurance. Also provides Accidental Death & Dismemberment (AD&D) insurance with $1,000 no-cost coverage for members and optional additional coverage starting at approximately $1/month per $10,000. Offered through TruStage Insurance Agency, LLC.
• Sallie MaecoreGTM or Marketing PartnerStudent loan partnership offering Smart Option Student Loans for undergraduate and career training students through Sallie Mae Bank. CFCU receives compensation for referring loan customers. Competitive interest rates, multiple repayment options, no origination fees, no prepayment penalty.
• FiservcoreTechnology or IntegrationTechnology provider powering the Clinchfield FCU Mobile App. Fiserv platform enables real-time balance access, account management, mobile deposits, bill pay, card controls, and fraud alerts through the mobile banking application.
• Life PlusminorGTM or Marketing PartnerDebt Protection program offering LifePlus Disability and Unemployment coverage. Protects members against job loss, disability, or death by covering loan payments. Optional protection that can help members avoid default during financial hardship.
• ASG ResultsminorGTM or Marketing PartnerGAP (Guaranteed Asset Protection) insurance provider. Pays the difference between insurance settlement and outstanding loan balance if vehicle is totaled or stolen. Also offers Mechanical Breakdown Protection contracts with coverage options including roadside assistance, rental vehicle, tire road hazard, and trip interruption benefits.
• Biltmore EstateminorGTM or Marketing PartnerDiscount ticket program for credit union members. Members can access discount coupons for Biltmore Estate tickets using code 'clinchfcu' on the Biltmore website. Member benefit enhancing community engagement.

Scale indicators4 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Tennessee Valley Federal Credit Union: Large Tennessee-based federal credit union serving members across the state including the Chattanooga/East Tennessee region. Overlaps with Clinchfield on consumer deposits, vehicle loans, mortgages, and digital banking but at materially greater scale.
• Alliant Credit Union: Large national, digital-first federally chartered credit union competing for the same rate-sensitive deposits and credit card balances Clinchfield offers members. A relevant indirect competitor despite no geographic overlap.
• Y-12 Federal Credit Union: Tennessee-headquartered federal credit union serving a multi-county East Tennessee territory. Broader-incumbent peer with similar federal charter, full consumer product set, and large SEG-driven membership.
• ORNL Federal Credit Union: Larger federally chartered credit union headquartered in Oak Ridge, TN with branches across East Tennessee and a broader digital footprint. Broader-incumbent peer offering overlapping deposit, lending, and digital products to a wider Tennessee membership base.
• Ascend Federal Credit Union: One of the largest credit unions in Tennessee with statewide membership and a comprehensive digital + branch channel. Comparable only in product breadth (deposits, lending, wealth, insurance); competes for share but operates at very different scale.

Direct peers

• Appalachian Community Federal Credit Union: Community-development-focused FCU serving Eastern Tennessee and Western North Carolina with a similar low-income / CDFI-aligned mission. Directly comparable in scale, member-owned cooperative structure, and focus on underserved Appalachian communities.
• Eastman Credit Union: Federally chartered community credit union headquartered in Kingsport, TN - same East Tennessee / Appalachian Tri-Cities region as Clinchfield. Serves local employer SEGs and offers a comparable mix of deposit accounts, auto lending, mortgages, and digital banking, making it the closest geographic and operational peer.
• Self-Help Federal Credit Union: North Carolina-based, CDFI-certified member-owned credit union focused on underserved communities. Comparable mission orientation (community development, financial inclusion) and similar small-scale deposit/lending model.
• Leaders Credit Union: Tennessee-based community credit union of similar scale offering consumer deposits, vehicle loans, mortgages, and digital banking to a regional member base. Direct comparable along business model and product mix.
• Mountain Credit Union: Community credit union based in western North Carolina serving surrounding mountain counties - immediately adjacent to Clinchfield's TN/NC border footprint. Direct comparable in size, rural community focus, and consumer/mortgage product set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@clinchfieldfcu3399
• Facebookfacebook.com/pages/Clinchfield-Federal-Credit-Union/371441266259888
• Instagraminstagram.com/clinchfieldfcu
• LinkedInlinkedin.com/company/clinchfield-federal-credit-un

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Clinchfield Federal Credit Union