Some History about our Credit Union

It all started when eight people, Fred Seepe, Paul Sherman, E. K. Scoggins, Jr., Jack Meadows, Arthur (Bud) Davis, W. B. Langley, R. Garnett Mansfield and R. O. Swisher, came together in September of 1957 to form the Chattanooga Area Credit Union. These incorporators saw the need to establish a credit union to serve the employees of other credit unions. The governing laws at that time stated that credit union volunteers and employees could not borrow from their own credit unions.

A name and charter change occurred February of 1961 to become League Central Credit Union to recognize a statewide service area and the involvement of a trade association of Tennessee credit unions, the Tennessee Credit Union League.

LCCU has had a rich history beginning with Bud Davis keeping the books and records of the credit union in his basement until a paid staff could be supported. Other area credit union managers volunteered to serve on the Board of Directors and Committees, establishing a tradition of quality and caring service that carries over to the current Board and Credit Committee. This tradition is the foundation for the outstanding service provided to LCCU members throughout our 40 years and will continue on for the years to come.

Some of LCCU's memorable events are:

• October, 1973 LCCU is able to serve Small Employee Groups state wide adding to the 50 companies being served in the Hamilton County area.
• April, 1974 a branch office of LCCU was opened in Nashville.
• October, 1974 Hamilton County Employees Credit Union merged with LCCU adding 1500 members bringing the total membership to 7057.
• October, 1976 Membership increased so rapidly to 10,500 members construction was started, adding a second story to the Chattanooga office.
• November, 1981 Tennessee Central Credit Union merged with LCCU.
• December, 1986 membership is at 28,500 with a high participation in the West Tennessee area.
• October, 1997 first website was created.
• July, 1998 a branch office of LCCU was opened in Athens.
• August, 2003 Home Banking was introduced.
• December, 2003 branch office in Nashville was relocated to Lebanon Pike Circle.

During the next few years a need to supply faster and more economic service to our West Tennessee members resulted in several employee groups being transferred to local area credit unions and dropping our membership down to 12,745. By the end of 2004, asset growth has reached more than $28 million and is supported by a steady increase of new members. With the numerous services offered, LCCU has strived to provide our members with value and exceptional service. Join us in celebration of our past and planning for the future.

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