Question 1

What is Hiwassee River Credit Union?

Accepted Answer

Hiwassee River Credit Union is a state-chartered credit union based in Charleston, Tennessee. Originally known as O.M.C. Employees' Credit Union, the institution serves employees of Olin Corporation and their families. With approximately 1,980 members and total assets of $27.3 million, it operates as a small, community-focused financial cooperative that provides personalized banking services to its select membership base.

The credit union is named after the Hiwassee River, a 147-mile waterway that flows through Georgia, North Carolina, and Tennessee, playing a central role in the region's history and industrial development.

Question 2

When was Hiwassee River Credit Union founded?

Accepted Answer

Hiwassee River Credit Union was founded on February 10, 1969, according to business records. The credit union was established to serve employees of what was then known as Olin Mathieson Chemical Corporation (O.M.C.), which later became Olin Corporation.

The institution was created during a period of industrial growth in Charleston, Tennessee, when the Olin facility had been operating since 1962 as a chlor-alkali manufacturing plant on the banks of the Hiwassee River.

Question 3

Where is Hiwassee River Credit Union headquartered?

Accepted Answer

Hiwassee River Credit Union is headquartered in Charleston, Tennessee. The credit union's physical location is at 1186 Old Lower River Road, Charleston, TN 37310, situated inside the Olin Corporation administration building.

The mailing address is PO Box 828, Charleston, TN 37310. Charleston is located in Bradley County in southeastern Tennessee, near the Hiwassee River.

Question 4

Where does Hiwassee River Credit Union operate?

Accepted Answer

Hiwassee River Credit Union operates primarily in the Charleston area of Bradley County, Tennessee. The credit union serves a geographically concentrated area, with Charleston and the nearby city of Calhoun having a combined population of approximately 1,200 people within a 3-mile radius of the Olin plant.

As of recent data, the credit union reports no separate branch offices, with operations centered at the Olin Corporation facility location. This reflects the credit union's origins as an occupational credit union serving a specific employer's workforce.

Question 5

What services does Hiwassee River Credit Union offer?

Accepted Answer

Hiwassee River Credit Union provides core financial services to its membership, including:

Deposit Accounts: Share accounts (savings) and checking accounts for personal banking needs.

Lending Services: Consumer loans including auto loans, personal loans, and other credit products to help members finance their needs.

Card Services: VISA debit cards for convenient access to funds, with after-hours lost/stolen card reporting available. VISA credit cards are also offered to qualified members.

Digital Banking: Online banking services accessible through their website at www.omcecu.com, allowing members to manage accounts remotely.

Member Services: Money orders, prepaid gift cards, and other traditional credit union services. The credit union maintains a drop box for after-hours deposits.

Question 6

What makes Hiwassee River Credit Union unique?

Accepted Answer

Hiwassee River Credit Union's distinctiveness lies in its occupational membership structure as a workplace credit union serving Olin Corporation employees and their families. This focused membership creates a tight-knit community of members who share common employment ties.

The credit union maintains its operations within the Olin Corporation administration building, providing exceptional convenience for employees who can conduct banking business at their workplace. This arrangement reflects the traditional model of employer-sponsored credit unions designed to serve workers' financial needs.

Despite its small size with approximately 2,000 members, the credit union maintains a strong capital position with a net worth ratio of 10.75%, demonstrating financial stability and prudent management. The institution has served the Charleston community for over 55 years, building long-term relationships with multiple generations of Olin employees.

The credit union's connection to the historic Hiwassee River region, an area significant in Cherokee history and Tennessee's industrial development, gives it deep roots in the local community.

Question 7

What type of financial institution is Hiwassee River Credit Union?

Accepted Answer

Hiwassee River Credit Union is a state-chartered credit union regulated by the Tennessee Department of Financial Institutions and the National Credit Union Administration (NCUA). As a state charter, it operates under Tennessee credit union laws while maintaining federal deposit insurance through the NCUA.

The institution is classified as a state chartered natural person credit union, meaning it serves individual members rather than businesses or other organizations. Membership is restricted based on occupational requirements, specifically employment or family relationships with Olin Corporation employees.

As a credit union, it operates as a not-for-profit financial cooperative owned by its members. Unlike banks, credit unions are member-owned institutions where each member has an equal vote in governance regardless of account size. Earnings are returned to members through competitive rates, lower fees, and improved services rather than distributed to outside shareholders.

The credit union reports having a potential membership field of 5,000 individuals, though current membership stands at approximately 1,980 members as of 2025.

Hiwassee River Credit Union

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About Hiwassee River Credit Union in the United States