What is a Credit Union?

Federal credit unions were established in the United States in 1934 when Congress passed the Federal Credit Union Act. They were an important part of helping average people during the tough times of the Great Depression. These financial cooperatives provide financial services to a group of people with a common bond, such as a defined community, employer or association. These cooperatives are governed by volunteers on the Board of Directors and Supervisory Committee.  Credit unions are owned by the members.

Today, these financial cooperatives continue to help their members through good times and bad. Credit unions are tax-exempt because of their not-for-profit structure.  All federally insured credit unions in the United States self-fund their deposit insurance through the National Credit Union Share Insurance Fund. If one credit union fails, the others contribute to pay for any loss. Since the inception of Federal Credit Unions, not one penny of taxpayer money has been spent on credit unions. This is in contrast to the billions required by the FDIC to fund bank closings annually.

By participating in Appalachian Community Federal Credit Union as a member, your interest paid on loans returns to your neighbors and friends in the form of deposit interest, technology and services. Those using checking accounts, Super Saver Money Market Accounts, term share certificates, club accounts and other depository products provide the funds that help neighbors and friends purchase automobiles, buy family homes, finance education and the like. Appalachian Community Federal Credit Union is also proud to be associated with the Human Economic Appalachian Development (H.E.A.D.) association. This association serves the underserved in rural Tennessee, Virginia, Kentucky and SW Virginia. In partnership with H.E.A.D., Appalachian Community Federal Credit Union makes credit possible to hundreds of low income residents in rural America. On behalf of all of our 13,000+ members, thank you for participating and supporting your credit union.

Appalachian Community Federal Credit Union is Federally insured by the National Credit Union Share Insurance Fund (NCUSIF), an agency of the federal government, which insures deposits up to $250,000 per person.

Our History

Appalachian Community Federal Credit Union is a federally-insured financial institution established in 1932.  Our original mission was to serve the employees of the Mead Paper Mill (currently Domtar) of Kingsport, Tennessee.  We were given a community charter in 2001.  Today, we serve eight communities in northeast Tennessee, southwest Virginia and eastern Kentucky.  In January 2013, our charter was expanded to include anyone who belonged to the non-profit Human Economic Appalachian Development Corporation. 

Mission Statement:

Appalachian Community Federal Credit Union (ACFCU) is dedicated to providing community and economic development to underserved individuals and businesses that lack adequate access to capital, high quality financial services, and financial counseling in its service areas of Northeast Tennessee, Southwest Virginia, and Eastern Kentucky.

Vision Statement:

Appalachian Community Federal Credit Union is committed to building financial relationships that strengthen economically challenged areas through proactive outreach of relevant resources to improve long term financial independence.


Building Financial Relationships One Member at a Time.


What it means to be a CDFI:

Community Development Financial Institutions-of CDFIs- are mission-driven financial institutions that are dedicated to providing financial services to meet the needs of economically disadvantaged individuals within underserved communities.

CDFIs invest in local communities and the residents who live there by providing critically needed financing often unavailable from mainstream financial institutions.

CDFIs are certified by the U.S. Department of the Treasury’s Community Development Financial Institutional Fund- known as the- CDFI Fund. In order to become a certified CDFI, the financial institution must: have a primary mission of promoting community development; provide financial products and services; serve one or more defined low-income target markets; maintain accountability to the community it serves; and be a legal non-governmental entity.

All CDFIs share a common mission of serving low-income communities. CDFIs are commonly loan funds, credit unions, community banks, or venture capital funds.

Certified CDFIs are part of a national network promoting economic growth in America’s underserved communities by financing businesses, creating jobs, and rebuilding neighborhoods.

As a CDFI, Appalachian Community Federal Credit Union puts the community first and values local, economic growth.


Board Of Directors 

Appalachian Community Federal Credit Union's Board of Directors are volunteer credit union members, elected by the membership, whose main responsibilities and decisions benefit all who belong to the credit union. These individuals give their time and expertise to oversee the growth and prosperity of the credit union.

List of ACFCU's Board of Directors
  • Royden Russell, Chairperson
  • George Little, Vice Chair
  • Alex Castro, Secretary/Treasurer
  • Stacy Cunningham
  • Michael Hayes
  • J.B. Oaks
  • Jeff Street
Supervisory Committee
  • Joe Boggs- Committee Chairperson
  • Jeff Street - Vice Chairperson
  • Jewell McKinney
  • Patricia Patterson