Electric Service Credit Union was founded by the employees of Nashville Electric Service in 1951, when eleven charter members deposited $5 each plus a twenty-five cent membership fee. The State of Tennessee approved the credit union’s charter, and on November 30, 1951 Electric Service Credit Union was created.
The credit union officially opened for business in January of 1952, and by the end of the year had increased deposits to $67,000, had loans of $53,000 and a membership that had grown to 517. By the time the credit union was ten years old, it had reached the one million dollar mark in assets, and the credit union’s charter was amended to include immediate family members of those who were both employees of NES and credit union members. In 1980, the credit union’s charter changed again, allowing those who had left NES to maintain their credit union membership. The “once a member, always a member” bylaw change ushered in a period of growth for ESCU, increasing assets to $10 million by 1986. The credit union’s charter was changed once again in 2008, allowing those who live, work or worship in Davidson County to join. Sumner County was added to the field of membership in 2011.
With continued growth, the credit union added its first branch outside NES in October of 2008. The Donelson Branch, which was located in retail space near Target in Donelson, grew steadily, welcoming members from the communities nearby. The Donelson Branch was relocated to its own building in April 2013, where extra space and drive through access provide added conveniences for members. A third branch was added in Hendersonville in 2012. Located in Hendersonville’s Indian Lake area, the Hendersonville Branch is the dedicated to Dickie Johnson, ESCU’s Chairman of the Board and past President.
Now nearing $60 million in assets, Electric Service Credit Union serves more than 4000 Middle Tennesseans and their families.
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