Question 1

What is Kingsport Press Credit Union (KPCU)?

Accepted Answer

Kingsport Press Credit Union (KPCU) is a not-for-profit financial cooperative serving Northeast Tennessee communities. As a member-owned institution, KPCU operates with approximately $91 million in assets and serves over 6,200 members. The credit union was historically tied to the Kingsport Press printing company but has since expanded to serve the broader community in Sullivan County, Hawkins County, and the cities of Kingsport and Johnson City.

KPCU emphasizes competitive rates, personalized service, and straightforward financial products. The credit union positions itself as "small enough to know you but large enough to handle your finances."

Question 2

When was Kingsport Press Credit Union (KPCU) founded?

Accepted Answer

Kingsport Press Credit Union was officially chartered by the Tennessee Secretary of State on November 23, 1930. This made it the first state-chartered credit union in an industry in Tennessee.

The credit union was established during the early stages of the Great Depression by the management of Kingsport Press, Inc. and Holliston Mills, Inc. The founders recognized that by pooling employee resources together, they could help one another weather the economic hardships. The credit union's original purpose was to satisfy the financial needs of Kingsport Press and Holliston employees by promoting savings and making loans at reasonable rates of interest.

Question 3

Where is Kingsport Press Credit Union (KPCU) headquartered?

Accepted Answer

Kingsport Press Credit Union is headquartered at 528 W Center Street in Kingsport, Tennessee. The credit union relocated to this West Center Street facility in 1992 from its original location inside the Kingsport Press plant.

Question 4

Where does Kingsport Press Credit Union (KPCU) operate?

Accepted Answer

KPCU operates through three branch locations in Northeast Tennessee:
• Kingsport Main Office: 528 W Center Street, Kingsport, TN 37660
• Church Hill Office: 755 Highway 11-W, Silver Lake Center, Church Hill, TN 37642
• Rogersville Office: 102 N Sneedville Pike, Rogersville, TN 37857

Membership eligibility is available to anyone who works, lives, worships, or attends school in Sullivan County, Hawkins County, Kingsport, or Johnson City, Tennessee. Originally restricted to employees of specific companies, the credit union opened its membership to the broader community after Kingsport Press closed in 2006.

Question 5

What services does Kingsport Press Credit Union (KPCU) offer?

Accepted Answer

KPCU provides a comprehensive range of financial services designed to be simple, affordable, and easy to understand:

Deposit Accounts: Free checking accounts, savings accounts (share accounts), and other deposit products with competitive interest rates.

Lending Services: Auto loans, home loans, personal loans, and credit cards, all offered at competitive, low rates with flexible terms.

Digital Banking: Online banking with bill pay, mobile banking app (KPCU Friend Mobi) with mobile check deposit, telephone banking system called "Speedy" for 24/7 account access, and free debit cards.

Additional Services: Account balance inquiries, transaction history, fund transfers, loan payments, and various free and low-cost services.

The credit union emphasizes digital convenience while maintaining personalized, local customer service.

Question 6

What makes Kingsport Press Credit Union (KPCU) unique?

Accepted Answer

KPCU distinguishes itself through several key characteristics:

Nearly a Century of Service: As Tennessee's first state-chartered industrial credit union (founded 1930), KPCU has a rich history spanning over 94 years of serving the community.

Resilience and Growth Through Mergers: The credit union has expanded through strategic mergers, including United Credit Union (2001) and the re-merger with Holliston Mills Credit Union (2006). Despite the closure of its original sponsor company in 2006, KPCU emerged stronger and more community-focused.

Local, Personal Banking Philosophy: KPCU emphasizes that members always deal with local people who provide honest, straightforward answers without hidden agendas. The credit union prides itself on knowing its members personally while maintaining the capacity to handle their complete financial needs.

Member-Owned Cooperative Model: As a not-for-profit cooperative, KPCU returns earnings to members through higher savings rates and lower loan rates rather than distributing profits to external shareholders.

Question 7

What type of financial institution is Kingsport Press Credit Union (KPCU)?

Accepted Answer

Kingsport Press Credit Union is a state-chartered credit union regulated by the Tennessee Department of Financial Institutions and federally insured by the National Credit Union Administration (NCUA).

As a state credit union, KPCU operates under Tennessee state banking laws while maintaining federal insurance protection. The credit union follows a cooperative structure where members are both customers and owners. Each member has equal voting rights regardless of account balance, embodying the democratic principle of "one member, one vote."

Membership is based on a common bond defined by geographic location, allowing anyone who lives, works, worships, or attends school in the designated service area to join. This community charter model reflects the credit union's evolution from a select employee group (SEG) credit union to a community-focused financial cooperative.

Question 8

How has Kingsport Press Credit Union (KPCU) evolved since its founding company closed?

Accepted Answer

When Kingsport Press, Inc. closed its doors in 2006 after multiple ownership changes, the credit union faced a pivotal moment. Rather than dissolving, KPCU transformed its business model and membership structure.

The credit union expanded its field of membership to encompass anyone in Sullivan County, Hawkins County, Kingsport, and Johnson City, transitioning from an employee-based SEG credit union to a community credit union. This strategic shift allowed KPCU to continue serving its existing members while welcoming new members from the broader Northeast Tennessee region.

The credit union's financial strength and stability enabled it to thrive independently of its founding sponsor. Today, KPCU continues to honor its roots while serving as a full-service community financial institution, demonstrating that credit unions can successfully outlive their original sponsor organizations.

Kingsport Press Credit Union (KPCU)

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About Kingsport Press Credit Union (KPCU) in the United States