The history of TVA Credit Union is a reflection of how credit unions adapt to the dictates of the changing
TVA Federal Credit Union was established on 24 June 1936 and has the distinction of being the first federally
chartered credit Union in Alabama. In 1989, the Muscle Shoals TVA merged with the Sheffield Federal Credit Union
and became the TVA Credit Union - a name that it carries up to the present. Another merger took
place in 2006 with the Valley Employees Credit Union, and TVA Credit Union changed itself from being federally
chartered to being state chartered.
As in all credit unions, membership is restricted. Those who live, work, attend school or church in the following
counties of Alabama and their immediate families are eligible for membership: Lauderdale, Limestone, Colbart,
Franklin, Lawrence, Morgan, and Marshal. Employees of TVA Credit Union’s business partners can also avail of its
services. The head office is located in Muscle Shoals with branches in Florence, Sheffield, Killen, Browns Ferry,
Athens, and Dr. Hicks Boulevard.
TVA Credit Union does not have a branch in Knoxville, nor is there a Knoxville Credit Union that is part of TVA
Credit Union. What exists is the Knoxville TVA Employees Credit Union, a credit union separate from and not
connected with TVA Credit Union.
TVA Credit Union’s loan products include home equity line-of-credit, home mortgages and construction and land
loans. The other products of TVA Credit Union are: regular share account or savings account; checking account
including a special account for 50 year olds and over called the “Senior Class Account” with such appealing
benefits as free checks, free money orders, free travelers checks, and 10% discount on the rent of safe deposits;
club accounts, IRAs and Certificate of Deposits.
The TVA Credit Union also provides a no-annual fee VISA credit card having a relatively low annual percentage rate
(APR) of 9.95 % and a 25-day grace period. Their credit card is as competitive as those offered by other credit
A bad credit history creates difficulties for those applying for credit cards or any type of loan, regardless of
the circumstances that caused it. While the battle may be uphill, re-building a good credit is not impossible. As
in all debacles in life, one can always bounce back and regain what has been lost.
Is the TVA Credit Union Visa Card for one who has a bad credit history? The answer is yes. Like most credit unions,
TVA Credit Union may consider offering a ‘secured credit card’ - one whose credit limit is secured by an
equivalent amount of cash deposit. However, the process of regaining what used to be a good credit record starts
from within. One should have the discipline to be more financially prudent and responsible. Also, one should have a
stable job before applying to improve chances for approval of a credit card application. The same goes for those
just starting to build their credit history.
Source: Credit Cards For People With Bad Credit Rating
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