Scenic Community Credit Union, formerly Dupont Community Credit Union, has gone through a name change to reflect the not-for-profit’s current field of membership.
Ann Shutters, administrative assistant at Scenic Community Credit Union, said the change in name mirrors their members: the residents of Hamilton, Marion and Sequatchie counties in Tennessee, and Catoosa, Dade and Walker counties in Georgia.
“We were not bought out and no positions were created or lost,” Shutters said. “The name change is to reflect our current field of membership.”
A credit union is a local, not-for-profit financial cooperative owned and controlled by its members. It is operated for the purpose of offering lower loan rates and competitive saving rates, as well as providing other financial services to its members.
The Scenic Community Credit Union’s board of directors serve as unpaid volunteers, elected by those members.
“Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders,” Shutters said. “Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits, lower fees, new technology and personal service.”
The formerly named Dupont Community Credit Union was established in 1954 to serve the financial needs of the employees of the Chattanooga DuPont plant.
Since its establishment, the not-for-profit has given back to the community in other ways, Shutters said.
To showcase their continued commitment to the community, Scenic Community Credit Union invited local businesses and individuals to a ribbon-cutting ceremony, which the Chattanooga Area Chamber of Commerce coordinated, in celebration of the name change.
Those in attendance were encouraged to participate in a school supply drive to benefit local schools.
For more information about Scenic Community Credit Union, click here.