Telco Community Credit Union

Overview / Commentary
710 New Leicester Hwy
Asheville, NC 28806

Telco Community Credit Union is headquartered in Candler and is the 16th largest credit union in the state of North Carolina. It is also the 890th largest credit union in the nation. It was established in 1935 and as of March of 2024, it had grown to 72 employees and 34,858 members at 12 locations. Telco Community Credit Union has an A health rating.

Field of Membership Restrictions

Membership in Telco Community Credit Union is open to those who live, work, worship, or attend school in the North Carolina counties of Alexander, Avery, Buncombe, Burke, Caldwell, Catawba, Cleveland, Haywood, Henderson, Iredell, Jackson, Lincoln, Madison, McDowell, Mitchell, Polk, Rutherford, Transylvania, Watauga, Wilkes, or Yancey. Membership is also open to employees of over 200 area Select Employer Groups.
See current membership details

Reviews (1)

Absolutely The WORST BANK I Have Ever Had A Relationship With!

Posted by: |

Telco community credit Union is HORRIBLE! They have ZERO compassion or concern for their members. The point (for most) when joining a small local credit union, is to establish and develop a close friendly long term relationship with the staff! It’s extremely important to feel like these people have your best interest at heart. Especially, considering a person has chosen this institution and its staff to trust with their money/financial affairs!
The New Leicester Branch which also happens to be TelcoCCU’s Administrative offices... is the worst of all the branches! I have never been treated with such disrespect! I had a vehicle loan which they repossessed my vehicle at 11pm on a Sunday evening knowing That would put someone in a difficult position considering I didn’t have a few thousand dollars cash just lying around and obviously couldn’t run to the bank! To top it all off, the reason they repossessed the vehicle was not due to my negligence but their own. From the day I opened the loan I at it up to auto withdrawal the payment weekly to be paid each Friday. They let my account get 3 month behind and never notified me by telephone. I contacted them one day to get information on a separate matter, and was told for the first time that my account was in default. The teller (who worked in a different branch) was helpful and read through their notes to see if they had tried to contact me. She apologized and explained that they had in fact never tried to contact me by phone, but they did mail a letter to my previous address. Which, I had completed the proper “change of address” document and turned in to one of the tellers at the Leicester branch who was supposed to update the information in their computer system. Apparently she failed to do so. However, they should have been well aware of my address change since I had just secured a mortgage loan through this bank! I have been through so much hell with this financial institution. I am now, in the midst of this corona virus fighting them to keep my house! They entire mortagage loan process was a joke, they made me believe I was getting an FHA which I and the property both qualified for. When I arrived to close on my house I was told it was actually drawn up as a conventional loan, but I had the option to refinance to an fha. as soon as the next day! What sense does that make?? I got the purchase price down to 110k, I put a down payment of 54k (for the sole purpose of lowering my monthly mortgage payment) all to find out not only was the loan type incorrect but they somehow had calculated my mortgage payments to be $1009.00 each month? On a 77k mortgage loan! I have now hired a civil attorney to investigate and expose their wrongdoing! I should have NEVER trusted this bank! They have lied and given me the run around since I became a member! Not the way one expects to be treated when investing their money and trusting a financial institution to do right by them!!!!!!


Health Grade Components

NCUA #63545
Year Chartered1935
Primary Regulator
Profit Margin
Return on Assets - YTD1.2%
Return on Equity - YTD11.05%
Annual Interest Income$3.9MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$372.4MM$364MM
LoansQ1 2024vs Q1 2023$215.9MM$190.5MM
DepositsQ1 2024vs Q1 2023$326.8MM$325MM
Equity CapitalQ1 2024vs Q1 2023$40.1MM$35.2MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1.7MM$1.5MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$1.8MM$1.4MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0

Rates for Telco Community Credit Union are currently being reviewed.



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