Overview / Commentary
Ascend Federal Credit Union is headquartered in Tullahoma and is the 3rd largest credit union in the state of Tennessee. It is also the 101st largest credit union in the nation. It was established in 1951 and as of June of 2024, it had grown to 623 employees and 243,589 members at 31 locations. Ascend Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Ascend Federal Credit Union is open to anyone through a membership in The Tennessee Nature Conservancy ($25 one-time contribution). Membership is also open to those who live in a 25-mile radius of an Ascend branch and join the 50plus Club ($10 membership fee), and to employees, volunteers, or church members of one of the over 200 Select Employer Groups.
See current membership details
Health
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 7397 |
| Year Chartered | 1951 |
| Employees | 623 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.84% |
| Return on Equity - YTD | 7.7% |
| Annual Interest Income | $108MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $4.35B$4.15B |
| Loans | Q2 2024vs Q2 2023 | $3.1B$2.89B |
| Deposits | Q2 2024vs Q2 2023 | $3.48B$3.36B |
| Equity Capital | Q2 2024vs Q2 2023 | $477MM$428.2MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $19MM$9.7MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $9.6MM$5.8MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
