Question 1

What is Tennessee Department of Safety Credit Union (TN DoS CU)?

Accepted Answer

Tennessee Department of Safety Credit Union (TN DoS CU) is a state-chartered credit union serving employees and retirees of the Tennessee Department of Safety & Homeland Security and the Tennessee Bureau of Investigation. With approximately 1,663 members and $11.5 million in total assets, this credit union operates as a cooperative non-profit institution dedicated to promoting thrift and providing an economical source of credit to its exclusive membership base.

The credit union maintains a strong financial position with a net worth ratio of 26.22% and serves a niche community of law enforcement and public safety professionals in Tennessee.

Question 2

When was Tennessee Department of Safety Credit Union (TN DoS CU) founded?

Accepted Answer

[Information not publicly available]

The credit union operates under NCUA Charter Number 67971 and has been serving Tennessee Department of Safety employees and their families for an extended period, though the exact founding date is not documented in public records.

Question 3

Where is Tennessee Department of Safety Credit Union (TN DoS CU) headquartered?

Accepted Answer

Tennessee Department of Safety Credit Union is headquartered at 1150 Foster Avenue in Nashville, Tennessee. The credit union operates from this single location, providing convenient access to eligible members working in the Nashville area.

Question 4

Where does Tennessee Department of Safety Credit Union (TN DoS CU) operate?

Accepted Answer

The credit union primarily serves members in the Nashville metropolitan area and throughout Tennessee, though membership is restricted to specific groups. Eligible members include:
• Current employees of the Tennessee Department of Safety & Homeland Security
• Current employees of the Tennessee Bureau of Investigation
• Retirees from these agencies
• Immediate family members of eligible employees and retirees, including spouses, children, grandchildren, parents, grandparents, brothers, sisters, and step-family members

To join, individuals must complete a membership card and deposit at least $5.00 in a regular share account, plus a one-time fee of twenty-five cents.

Question 5

What services does Tennessee Department of Safety Credit Union (TN DoS CU) offer?

Accepted Answer

Tennessee Department of Safety Credit Union provides a comprehensive range of financial services tailored to its membership:

Savings Products:
• Regular share accounts with quarterly dividends
• Share Accumulation Accounts (minimum balance of $3,500)
• Certificates of Deposit with terms from 90 days to 24 months
• Christmas Club Accounts
• Individual Retirement Accounts (Traditional and Roth IRAs)

Lending Services:
• Personal loans up to three times monthly salary
• Various purpose loans based on creditworthiness
• Life insurance on loans up to $30,000
• Credit Disability insurance coverage

Account Access:
• In-person banking at the Nashville office
• Withdrawals by telephone, email, fax, or mail
• Quarterly statements for all members
• Monthly statements for members with ACH transactions
• Same-day withdrawal processing for unpledged savings

All deposits are insured up to $250,000 by the NCUA. Members can make deposits through payroll deduction, check, or cash, either at the office or by mail.

Question 6

What makes Tennessee Department of Safety Credit Union (TN DoS CU) unique?

Accepted Answer

Tennessee Department of Safety Credit Union stands out for its exclusive focus on Tennessee's public safety workforce. This specialized membership creates a tight-knit community of law enforcement and homeland security professionals who share common employment experiences and financial needs.

The credit union emphasizes personalized service through its full-time staff and volunteer leadership structure, including a five-member Board of Directors elected by members and a three-member Supervisory and Credit Committee.

With a loan-to-share ratio of 115.78%, the credit union actively fulfills its mission of providing credit to members. The institution has demonstrated consistent growth in loans (2.25% year-over-year) and maintains strong capital adequacy with a return on average assets of 4.18%.

The credit union's cooperative structure and focus on serving a specific professional community allows it to tailor products and services to the unique needs of Tennessee's public safety employees and their families.

Question 7

What type of financial institution is Tennessee Department of Safety Credit Union (TN DoS CU)?

Accepted Answer

Tennessee Department of Safety Credit Union is a State Credit Union chartered by the state of Tennessee. As a state-chartered institution, it operates under Tennessee state regulations while maintaining NCUA insurance coverage for member deposits.

The credit union follows the traditional cooperative structure where members are also owners. Each member has equal voting rights in electing the Board of Directors, regardless of account balance. This democratic governance model ensures that the credit union operates in the best interests of its membership.

Unlike federal credit unions, state-chartered credit unions like TN DoS CU are regulated by state authorities in addition to federal oversight, which can provide greater flexibility in certain operational areas while maintaining robust consumer protections.

Tennessee Department of Safety Credit Union (TN DoS CU)

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About Tennessee Department of Safety Credit Union (TN DoS CU) in the United States