Tullahoma is a city in Coffee and Franklin counties in southern Middle Tennessee, United States. The population was 20,339 at the 2020 census. In 2019, the population was estimated to be 19,555. It is the principal city of the Tullahoma micropolitan area, which consists of Coffee and Moore counties and is the second largest micropolitan area in Tennessee. The city is also partially in the Winchester Micropolitan area.
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this has been increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the government of the United States, and according to the FDIC, "since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds".
A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts, share draft accounts, credit cards, credit, share term certificates, and online banking. Normally, only a member of a credit union may deposit or borrow money. In several African countries, credit unions are commonly referred to as SACCOs.
The National Credit Union Administration (NCUA) is an American government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federal Deposit Insurance Corporation (FDIC), which insures commercial banks and savings institutions. The NCUA is an independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions. With the backing of the full faith and credit of the U.S. government, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. Besides the Share Insurance Fund, the NCUA operates three other funds: the NCUA Operating Fund, the Central Liquidity Facility (CLF), and the Community Development Revolving Loan Fund (CDRLF). The NCUA Operating Fund, with the Share Insurance Fund, finances the agency's operations.
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. While the terms "S&L" and "thrift" are mainly used in the United States, similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held, meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20 percent of their lending in commercial loans—their focus on mortgage and consumer loans makes them particularly vulnerable to housing downturns such as the deep one the U.S. experienced in 2007.
The Canada Deposit Insurance Corporation is a Canadian federal Crown Corporation created by Parliament in 1967 to provide deposit insurance to depositors in Canadian commercial banks and savings institutions. CDIC insures Canadians' deposits held at Canadian banks up to C$100,000 in case of a bank failure. CDIC automatically insures many types of savings against the failure of a financial institution. However, the bank must be a CDIC member and not all savings are insured. CDIC is also Canada's resolution authority for banks, federally regulated credit unions, trust and loan companies as well as associations governed by the Cooperative Credit Associations Act that take deposits.
The Credit Union National Association, commonly known as CUNA, was a national trade association for both state- and federally chartered credit unions located in the United States. CUNA provided member credit unions with trade association services, such as lobbying, regulatory advocacy, professional development, and professional services management. The organization operated out of its headquarters in Washington, D.C., and an operations center in Madison, Wisconsin. CUNA's president and chief executive officer Jim Nussle led the organization since September 2014 and now leads its successor organization, America's Credit Unions.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s.
The Federal Home Loan Bank Act, Pub. L.Tooltip Public Law 72–304, 47 Stat. 725, enacted July 22, 1932, is a United States federal law passed under President Herbert Hoover in order to lower the cost of home ownership. It established the Federal Home Loan Bank Board to charter and supervise federal savings and loan institutions. It also created the Federal Home Loan Banks which lend to building and loan associations, cooperative banks, homestead associations, insurance companies, savings banks, community development financial institutions, and insured depository institutions in order to finance home mortgages.
Redstone Federal Credit Union is an American credit union based in Huntsville, Alabama. As of 2023, Redstone Federal Credit Union is Alabama's largest credit union and is federally chartered and regulated and insured through the National Credit Union Administration (NCUA).
Desert Financial Credit Union is a credit union based in Phoenix, Arizona, that operates 47 branches and service centers throughout Coconino, Gila, Maricopa, Pinal, and Yavapai counties and now statewide in Arizona. Desert Financial remains federally insured by the NCUA and in addition will be regulated by the Arizona Department of Financial Institutions, which regulates state chartered credit unions in Arizona. Desert Financial is the largest credit union in Arizona, managing nearly $8.5 billion in assets as of October 2022.
Bank regulation in the United States is highly fragmented compared with other G10 countries, where most countries have only one bank regulator. In the U.S., banking is regulated at both the federal and state level. Depending on the type of charter a banking organization has and on its organizational structure, it may be subject to numerous federal and state banking regulations. Apart from the bank regulatory agencies the U.S. maintains separate securities, commodities, and insurance regulatory agencies at the federal and state level, unlike Japan and the United Kingdom. Bank examiners are generally employed to supervise banks and to ensure compliance with regulations.
The New York State Banking Department was created by the New York Legislature on April 15, 1851, with a chief officer to be known as the Superintendent. The New York State Banking Department was the oldest bank regulatory agency in the United States.
Capitol Federal Savings Bank (CapFed) is a federally chartered and insured savings bank founded in 1893 and headquartered in Topeka, Kansas. Capitol Federal has 51 locations serving both the Kansas and Missouri sides of the Kansas City metropolitan area with personal and business financial services. It is owned by holding company Capitol Federal Financial Inc. for trading on the Nasdaq.
Lafayette Federal Credit Union, is a credit union headquartered at the Norman Cohen Financial Service Center in Rockville, Maryland, chartered and regulated under the authority of the National Credit Union Administration (NCUA) of the U.S. Federal government. As of June 2024, Lafayette Federal had over US$2.00 billion in assets, and over 57,700 members.
Call Federal Credit Union is a federally insured, not-for-profit financial cooperative headquartered in Richmond, Virginia. It is regulated under the authority of the National Credit Union Administration (NCUA) of the U.S. federal government. Call Federal Credit Union is the second-largest Richmond-based credit union. As of December 31, 2022, Call Federal Credit Union had US$522 million in assets and 30,000 members. In accordance with the Federal Credit Union Act of 1934, Call Federal Credit Union is a tax-exempt, federally chartered, federally insured, not-for-profit financial cooperative. Call Federal Credit Union accounts are insured up to $250,000 through the NCUA, which is comparable to the insurance provided to accounts at traditional banks via the Federal Deposit Insurance Corporation.
Santa Clara County Federal Credit Union, also known as County Federal, is a credit union which offers membership to both employees and retirees of certain Santa Clara County, California, businesses, as well as their relatives. Like other United States credit unions, it is a non-profit organization founded for the purpose of providing service to its members and is funded by its members.
Wright-Patt Credit Union (WPCU) is a US credit union or financial cooperative headquartered in Beavercreek, Ohio. The credit union was originally headquartered in Fairborn, Ohio; however, it relocated in early 2014. WPCU is registered as a state-chartered credit union, is the largest member-owned credit union in Ohio, and is one of the 50 largest credit unions in the United States. As of February 2022, WPCU has over $7.1 billion in assets, and over 446,000 members. WPCU is federally insured by the National Credit Union Administration (NCUA), which insures accounts in federal and most state-chartered credit unions in the United States. Deposits with Wright-Patt Credit Union are insured to $250,000.
Canada has significant per-capita membership in credit unions, representing more than a third of the working-age population. Credit union membership is largest in Quebec, where they are known as caisses populaires, and in western Canada.
Telhio Credit Union (Telhio) is an American Credit union or financial cooperative headquartered in Columbus, Ohio. Telhio offers banking services for both personal and business needs, including savings accounts, checking accounts, loans and certificates of deposit.
