Statement of Commitment to Members
At Clinchfield Federal Credit Union, the members come first. We promise to offer honest, fair service to all members, always having your well-being as our top priority. We promise to treat every member with respect and dignity. We strive to serve our members’ financial needs by delivering our products and services with the utmost convenience and professionalism. While maintaining a sound financial position, Clinchfield Federal Credit Union provides a wide range of valued financial products and services and gives members a feeling of personal identity and belonging as an owner in the credit union.
As a member-owned, not-for-profit financial cooperative, Clinchfield Federal Credit Union is committed to providing solutions for the financial needs of our members. We will fulfill our obligations to the member-owners and the needs of the communities in which they live. We will uphold our fundamental responsibility to actively serve people within our field of membership with a range of products and services delivered to the diverse economic and social make-up of our members and potential members.
We will monitor and communicate our service to members in a meaningful way so that members, potential members, legislators, regulators and the community at large will understand and appreciate the unique role that member-owned financial cooperatives play in their lives. We will continually, in all facets of operations, demonstrate the value of membership in Clinchfield Federal Credit Union.
Throughout Clinchfield Federal Credit Union’s operation, we will put forth every effort to enable our members to become financially self-sufficient and successful. We will consistently strive to deliver value and efficiency in the products, services and information we provide, living up to our promises and exceeding expectations to be known as a caring financial institution “Where people are worth more than money.”
This Statement of Commitment to Members represents the beliefs and philosophy of Clinchfield Federal Credit Union. We will continue to provide our members with the respect that they deserve and the excellent service that they have come to expect. This statement represents sound business practices that ensure the financial strength of our credit union on behalf of our members.
Section 1: Service to Members
Clinchfield Federal Credit Union services are designed to improve the economic and social well being of all members from all socio-economic backgrounds, including those of modest means, and to return value to those who participate in our member-owned financial cooperative.
Current Services that Help Improve the Economic and Social Well Being of Our Members:
A variety of consumer and real estate loans are offered at low rates and flexible terms. Types of loans include, but are not limited to: Secured, 12/12/12, Cosigner, Signature, Second Chance, Auto, Boat, 4-wheeler, Motorcycle, Camper, Home Equity, and First Mortgage Loans.
Share Account Savings
Regular share accounts are opened with a low minimum balance of $25, and there are no maintenance fees. Interest is paid quarterly on the Average Daily Balance of $250 or more.
Share Draft Checking
Free checking accounts are available to offer you the flexibility and convenience you need to manage your money- with access by ATM or phone anytime. There is no minimum opening deposit, balance, or monthly maintenance fee. Unlimited check writing, free Debit Card, and free ATM transactions are provided to the member.
Certificates can be opened with a minimum balance of only $1,000, allowing you the flexibility to lock in attractive interest rates guaranteed for the length of time that best suits the member’s needs. Certificates are available with terms ranging from 3 months to 60 months.
A $5 minimum deposit is needed to open a Christmas Club account. Checks for the balance plus interest will be mailed to the member in November. Interest is paid quarterly on the Average Daily Balance of $250 or more.
Share draft checking accounts offer overdraft protection from the member’s Share savings account for a low $1 transfer fee.
VISA credit card is available to members with an attractive interest rate of 10 – 16%.
Individual Retirement Accounts
Clinchfield Federal Credit Union can help you save for those golden retirement years with attractive annual percentage yields.
Notary Service, Direct Deposit Service, Payroll Deduction Service, Traveler’s Checks($1.00 per 100), Teller Checks (1 per day)
Section 2: Member Education
Clinchfield Federal Credit Union understands the importance of education in ensuring the financial well being of our members. We are enthusiastic advocates for financial literacy among members and consumers alike. We are committed to educating members and consumers about credit union uniqueness, philosophy, and values. The member education programs cover a wide range of knowledge and are delivered in a variety of ways.
Current Programs that Support Member Education and Advocacy:
Each quarter our newsletter contains valuable education for members related to credit union uniqueness and philosophy. We are committed to more newsletter education and less advertising of products and services.
CEO frequently writes articles for local newspapers as well as state and national credit union trade publications that address timely philosophical topics for credit union members.
High school workshops
Our credit union regularly conducts sessions in local high schools on topics such as “How to Manage your Checking Account”, “How to Buy your First Car”, and “Taking Control of your Finances Instead of Letting Them Control You”.
Member Resource Materials
In our lobby we provide a resource center with buying publications and education brochures related to pertinent credit union information.
NEFE (National Endowment of Financial Education) High School Program
Clinchfield Federal Credit Union completely supports this high school financial planning program by educating them in the financial do’s and don’ts
STAR (Staff Training And Recognition) Program
All credit union employees participate in training that reviews credit union philosophy, terms, differences between banks and credit unions, and general processes.
VAP (Volunteer Achievement Program)
Board of Directors participate in training sessions related to the duties and responsibilities of the volunteer positions they hold.
CCUE (Certified Credit Union Executive) Training
Self-study, college level courses allow employees to acquire training in multiple specialty areas of credit union leadership. The program is funded by the credit union.
Off-Site Director and Employee Training
Annual training sessions, employee retreats, and strategic planning sessions are provided to the direct
ors and employees in order to stay abreast of changing rules and regulations in credit union processes.
Speaking Engagements/Training Sessions
Financial topic discussions are conducted regularly by the CEO and credit union staff at the local, state, and national levels.
Section 3: Involvement & Governance
Clinchfield Federal Credit Union strives to preserve credit union democratic principles, including demographic representation and non-paid volunteer participation in credit union activities.
Current Programs that Support Involvement and Governance:
Elections are held at the annual meeting.
Members are invited and encouraged to attend. Catered dinner, entertainment, and door prizes are provided as additional motivation for members to attend.
Board of Directors
The Board is ultimately responsible for establishing policy direction of the credit union. The Board is a non-paid, volunteer body.
Board of Advisors
This is an invaluable employee benefit to sponsor companies an opportunity to offer their employees low cost, high quality financial services. This partnership between the credit union and the SEG’s allows joint participation in company events, notification of important company-related updates/changes, and posting of pertinent information on company bulletin boards.
The Supervisory Committee advises the Board of all external audit or examination reports and recommendations and coordinates an annual examination by a competent external audit firm. The committee is a non-paid volunteer body.
Section 4: Diversity
Clinchfield Federal Credit Union recognizes the value of demographic diversity in staff, as well as in volunteers, and strives to bring people of diverse backgrounds and experiences into leadership and other roles at the credit union.
Current Programs that Promote Diversity:
Equal Opportunity Employer
Clinchfield Federal Credit Union considers all applicants without regard to race, color, creed, national origin, religion, handicap, age, gender, marital status or sexual orientation, as provided in Title VII of the Civil Rights Act of 1964.
The Clinchfield Federal Credit Union Board of Directors actively recruits volunteers to serve on various committees, which ensure that members are readily available to step into a Board position should a vacancy arise. A concerted effort is made to ensure that Board members and volunteers are representative of the Clinchfield Federal Credit Union membership.
The importance of demographic diversity in the makeup of our credit union staff is recognized and valued. We strive to celebrate commonality and learn from differences among our employees. We appreciate diverse background and experience brought to our credit union by our employees. We encourage staff to share their values and beliefs and work to accommodate special requests when needed.
Unicoi County Chamber of Commerce
The credit union supports the Chamber of Commerce through assistance by our staff in various Chamber activities.
Shakers & Movers Program
The Shakers and Movers are part-time employees that include high school students and retired business professionals. The Shakers are high school students that keep the youthful spirit shaking while performing back office functions. The Movers are retired individuals who have fulfilled one career and are sharing their experience with our employees as they fill the receptionist positions and move daily business smoothly and efficiently through the credit union.
Section 5: Commitment to the Credit Union Movement
Clinchfield Federal Credit Union works to build and strengthen our unique credit union movement by providing financial and in-kind resources to others within the credit union community, and by actively advocating the credit union difference at all levels of government and in other appropriate public forums. In addition, Clinchfield Federal Credit Union participates in local, state and national cooperative activities as appropriate, and strives to build and strengthen relationships with other sectors of the national cooperative movement.
Current Activities that Support the Credit Union Movement:
Our Leadership serves in the following capacities to help build and strengthen the credit union movement:
Tennessee Credit Union League
- CEO currently serves on the Board of Directors and represents credit unions for 9 southeastern states in the Less Than 13,999 Members Division
Northeast Tennessee Chapter of Credit Unions
- CEO served 4 years on the Board of Directors
- CEO served 2 years as the Chairman of the Board
- CEO served 4 years on the Board of Directors
- CEO served 1 year as the Chairman of the Board
Local Credit Union Mentoring
- CEO currently serves on the Board of Directors
Other credit unions regularly visit our credit union to learn from our benchmark processes we have established. Our computer programs and loan department procedures have been modeled in other local credit unions.
Continuing Education for Staff
Clinchfield Federal Credit Union provides tuition assistance for post-high school education so that employees may further their careers in the credit union movement.
Clinchfield Federal Credit Union’s CEO actively participates in legislative affairs activities at local, state and national levels through attendance at regular meetings with elected officials. The CEO regularly attends at the Governmental Affairs Conference in Washington D.C., as well as participating in local activities and fundraisers for legislators representing Clinchfield Federal Credit Union’s communities. The CEO also participates regularly in CUNA/Tennessee Credit Union League-sponsored Hike-The Hill Program, lobbying for the credit unions’ best interests on Capitol Hill.
Section 6: Public Service & Corporate Citizenship
Through direct financial support or other in-kind contributions to worthwhile local organizations, and by participating in public service activities, Clinchfield Federal Credit Union strives to be an active partner in our community. We recognize that practicing good Corporate Citizenship supports the credit union philosophy of “People Helping People.” Furthermore, it will help raise the overall level of social and economic well being of those in our community, help to strengthen ties within the community, and better position us to reach out and serve-as only credit unions can-those people in greatest need of affordable financial services.
Community and Field of Membership Groups Receiving Financial, Volunteer, or In-Kind Support:
- Habitat for Humanity
- Christmas Gift Program
- Relay for Life Walk
- Annual CSX Health Fair
- Children’s Miracle Network
- Kiwanis Club
- Rotary Club
- The Heritage Museum
- Monroe Foundation
- Unicoi County Chamber of Commerce
- Volunteerism in churches, school financial education programs, and civic events
- Student fundraising activities, including Local Little League, School Sports Programs, and Tournament Support