Question 1

What is Holley Credit Union?

Accepted Answer

Holley Credit Union is a state-chartered credit union headquartered in Paris, Tennessee. With approximately $97.8 million in total assets and serving over 8,900 members, Holley Credit Union provides a full range of financial services to residents and workers across four counties in West Tennessee.

Originally established to serve employees of the Holley Carburetor Plant, the credit union has evolved into a community-focused financial institution serving Henry, Carroll, Stewart, and Weakley Counties. The credit union operates with a "People helping People" philosophy, returning profits to members through competitive interest rates, lower fees, and convenient services.

Question 2

When was Holley Credit Union founded?

Accepted Answer

Holley Credit Union was founded in 1952 to serve the employees of the Holley Carburetor Plant in Paris, Tennessee. The credit union was established during a period of rapid growth for credit unions nationwide, as businesses and organizations across the country formed these financial cooperatives as an employee benefit following the Great Depression and the passage of the Federal Credit Union Act in 1934.

Over the decades, Holley Credit Union expanded its membership eligibility beyond the original Holley Carburetor Plant employees to serve a broader community throughout West Tennessee.

Question 3

Where is Holley Credit Union headquartered?

Accepted Answer

Holley Credit Union is headquartered at 1107 Mineral Wells Avenue in Paris, Tennessee 38242. The credit union maintains its primary operations in this location, which has served as the hub for its community-focused banking services for decades.

Question 4

Where does Holley Credit Union operate?

Accepted Answer

Holley Credit Union operates exclusively in West Tennessee, serving members across four counties: Henry, Carroll, Stewart, and Weakley Counties. The credit union maintains two branch locations in Paris, Tennessee:
• Main Office: 1107 Mineral Wells Avenue, Paris, TN 38242
• Branch Office: 1327 East Wood Street, Paris, TN 38242

Additionally, the credit union provides ATM services at Henry County Medical Center in Paris.

Membership is available to employees of any industry in these four counties not being served by another credit union, employee groups in these counties, all city and county workers, retirees residing in these counties, members of the Henry County Historical Society, and immediate family members of current members.

Question 5

What services does Holley Credit Union offer?

Accepted Answer

Holley Credit Union provides comprehensive financial services designed to meet the needs of individuals and families in West Tennessee:

Deposit Accounts: Regular savings accounts (share accounts) with a $25 minimum to open, share draft checking accounts with no minimum balance and no monthly service charges, Member Choice Share Draft Checking with free checks and additional benefits, Christmas Club and Vacation Club savings accounts, share certificates (6-24 month terms with $1,000 minimum), and Individual Retirement Accounts including Traditional, Roth, and Educational IRAs.

Lending Services: Vehicle loans starting as low as 5.75% APR, secured loans starting at 7.75%, unsecured personal loans starting at 9.00%, and home equity loans starting at 8.50%. The credit union offers competitive rates and flexible terms to help members achieve their financial goals.

Digital Banking: Online banking through holleycreditunion.org and electronic bill payment services, mobile banking app for convenient account access, and Visa debit cards for everyday purchases.

Additional Member Benefits: Credit card protection, accidental death and dismemberment insurance (up to $10,000 on select accounts), discounts on theme parks, hotels, car rentals, and grocery savings programs.

Question 6

What makes Holley Credit Union unique?

Accepted Answer

Holley Credit Union stands out for its deep roots in the West Tennessee community and its commitment to accessible, member-focused financial services. The credit union's expansion from serving a single employer to four counties demonstrates its dedication to meeting broader community needs while maintaining personalized service.

Key distinguishing features include no minimum balance requirements and no monthly service charges on checking accounts, making banking more accessible to all members. The credit union emphasizes the cooperative credit union philosophy where profits are returned to members through better rates and lower fees rather than distributed to external shareholders.

With strong financial performance metrics including a 13.69% net worth ratio and 1.69% return on average assets, Holley Credit Union maintains a well-capitalized position while serving its members effectively. The credit union's impressive 16.22% year-over-year loan growth and 9.48% membership growth reflect its expanding role in the community.

Holley Credit Union also provides flexible membership eligibility, welcoming not only those who live or work in the service area but also immediate family members of existing members, creating a truly community-oriented financial cooperative.

Question 7

What type of financial institution is Holley Credit Union?

Accepted Answer

Holley Credit Union is a state-chartered credit union regulated by the National Credit Union Administration (NCUA) and state banking authorities. As a state credit union, it operates under Tennessee state credit union laws while maintaining federal insurance through the NCUA.

Credit unions are member-owned financial cooperatives organized to promote thrift and provide affordable access to credit. Unlike traditional banks that serve shareholders, credit unions operate on a "one member, one vote" principle regardless of account size. Each member is simultaneously a customer and an owner of the institution.

Membership at Holley Credit Union requires meeting specific eligibility criteria based on employment location, residency in the four-county service area, or family relationships to existing members. This common bond creates a sense of community and shared purpose among members, reinforcing the cooperative nature of the institution.

All deposits are federally insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), providing the same level of protection as FDIC insurance at traditional banks.

Holley Credit Union

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About Holley Credit Union in the United States