ORNL FCU 75 Years

Triumph was also celebrated. Along with credit union members throughout the country, ORNL Federal Credit Union’s members had rallied against new actions by the banking industry. The outraged voices of seventy million credit union members sent a deafening, unified message to Washington lawmakers. HR 1151, the Credit Union Membership Access Act, quickly made its way through the House and passed the Senate. The margin of victory was overwhelming in both houses of Congress, with Tennessee’s entire congressional delegation voting in its favor. On August 7, President Clinton signed HR 1151 into law. “This resolves uncertainty about the future of credit unions,” the president remarked

OUR OWN WORDS Here’s our bottom line: when you take care of your members, everything else will fall into place. JANITA CLAUSELL SVP & Chief Retail Officer

at its signing. “It protects existing credit union members, makes it easier for credit unions to expand where appropriate, [and] ensures that consumers continue to have a broad array of choices in financial services.” Once again, bankers’ attempts to restrict services provided by credit unions were beaten back by the strong grassroots support of loyal credit union members from every corner of the country.

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As the decade closed in on a new millennium, 1999 saw total assets reach more than $500 million for the first time in the credit union’s history. In an ongoing effort to attract new relationships while expanding convenience to members in East Tennessee, a new branch was opened in Maryville. To restore service quality in existing areas, new branch facilities were constructed in Clinton, Kingston, and Lenoir City. A new initiative, the Members Financial Service Program, was launched this year. Through this program, ORNL FCU members could receive help with financial planning, brokerage assistance, and insurance. New small business services were also rolled out. While the Oak Ridge National Laboratory made technology news by creating the world’s fastest supercomputer, the credit union continued its investments in technology by revamping its website and adding pages focused on teaching children good money management practices. The new site was being widely visited. Members were also enrolling in online banking access by the hundreds each month, and ATM use was at an all-time high. The credit union also signed on as one of six sponsors for Oak Ridge’s Celebrate 2000 campaign, focused on happenings in the city and its surrounding communities. ORNL FCU also received a $37,500 grant through the Federal Home Loan Bank of Cincinnati and provided matching funds to make down payments and pay closing costs for members who qualified under FHLB (Federal Home Loan Banks) guidelines.

The year closed with the passage of the Financial Services Modernization Act, which partially deregulated the financial services industry. This enabled investment firms, commercial banks,

1998-2007 GROWTH, CELEBRATION & TRIUMPH | 53