Category: ORNL Federal Credit Union

ORNL FCU announces expansion at Northshore Town Center – 33rd branch to be built

Posted by Erin Freeman – February 13, 2013

Oak Ridge, Tenn. – On the heels of a monumental year of growth that included a 15 percent increase in its consumer loan portfolio and a more than 12 percent growth in all loans, including mortgage, consumer and business, ORNL Federal Credit Union (FCU), East Tennessee’s largest credit union, today announced it has entered into an agreement to purchase land with the intention of opening a new full service branch in 2014. To be located in Northshore Town Center, the new branch – ORNL FCU’s 33rd branch – will provide a full suite of services and greater convenience to ORNL FCU’s membership of approximately 157,000.

“We are very pleased to be making this expansion announcement as it will allow us the opportunity to better serve and bring increased value to our members,” said Chris Johnson, President and CEO. “We have a very dedicated staff and board of directors who have worked hard to make this expansion a reality, and since we are member-owned, our focus is on delivering solutions to our members, rather than making money for stockholders.”

According to Johnson, in the past 13 years ORNL FCU has tripled its assets – from $450 million to $1.43 billion – and more than doubled its membership. Over the past 10 years, it expanded to serving 16 East Tennessee counties, a demographic region with a little more than one million in population. Additionally, because of its size, ORNL FCU has been able to grow through offering services to peers. In 2006, the credit union created a service organization, called CU Community, which provides mortgage services to other credit unions.

For more information on ORNL FCU, visit www.ORNLFCU.com.

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ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong. Established in 1948 with 10 founding members, ORNL Federal Credit Union’s assets have grown to over $1.43 billion and membership has grown to over 157,000. Open to all businesses and anyone who lives, works, worships, or attends school in the 16 counties of Central East Tennessee, ORNL Federal Credit Union currently serves members in 32 branches located throughout Anderson, Blount, Campbell, Hamblen, Knox, Loudon, Monroe, Roane, Sevier and Union counties.


Media Contact:
Jeff Hooper
(865) 584-0550
jhooper@ackermannpr.com

Paul Morris joins ORNL Federal Credit Union as Vice President of Information Technology

Posted by admin – November 30, 2012

Paul Morris

Oak Ridge, Tenn. – ORNL Federal Credit Union (FCU), East Tennessee’s largest credit union, has announced that Paul Morris has been appointed Vice President of Information Technology.

Morris’s responsibilities include evaluating new technology and technology applications, establishing and implementing information systems security policies and procedures, managing technology resources and contributing to the strategic management of the credit union through technological management. Morris will manage all aspects of technology for ORNL Federal Credit Union.

“Paul will be an excellent addition to ORNL Federal Credit Union as its new VP of Information Technology,” said Chris Johnson, CEO. “His experience in technology over the past two decades will prove invaluable to our organization and will benefit staff and members alike.”

Morris most recently served as Senior Vice President and Chief Information Officer of Bay Federal Credit Union in Capitola, Calif. Prior to that position, he held various significant information technology roles with Fox (Twentieth Television) in Century City, Calif., Los Alamos National Laboratory in Los Alamos, N.M. and E*TRADE Financial in Irvine, Calif., among other positions.

Morris holds a bachelor’s degree from the University of California in Irvine, Calif., a master’s degree in computer science from University of Southern California and a master’s degree in project management from George Washington University.  He is also Certified in the Governance of Enterprise IT (CGEIT) and Certified in Risk and Information Systems Control (CRISC).

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ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong.  Established in 1948 with 10 founding members, ORNL Federal Credit Union’s assets have grown to over $1 billion and membership has grown to over 150,000.  Open to all businesses and anyone who lives, works, worships, or attends school in the 16 counties of Central East Tennessee, ORNL Federal Credit Union currently serves members in 32 branches located throughout Anderson, Blount, Campbell, Hamblen, Knox, Loudon, Monroe, Roane, Sevier and Union counties.

Media Contact:
Jeff Hooper
Ackermann PR
(865) 584-0550

ORNL Federal Credit Union announces management changes

Posted by admin – November 19, 2012

Larry Jackson

Oak Ridge, Tenn. - ORNL Federal Credit Union (FCU), East Tennessee’s largest credit union, has announced management changes within the credit union and its Credit Union Service Organization (CUSO), CU Community, LLC. As a result of the changes, Larry Jackson has been appointed President and Chief Operating Officer of CU Community, LLC, and Janita Clausell, who has served as President of the CUSO, has been named Vice President of Sales and Service for ORNL FCU.

Since joining CU Community as Business Development Director in 2009, Larry Jackson has been instrumental in building viable partnerships with ORNL Federal Credit Union’s peers to enhance available member services through multiple channel delivery. Most recently, Jackson served as Senior Vice President of CU Community, LLC and Vice President of Mortgages, ORNL FCU.

“Larry has exemplified leadership excellence in the development and implementation of short and long-term strategies for the mortgage lending line and CU Community business operations. He is a performance management champion and embraces the concepts and techniques to balance the needs of talent and business,” said Chris Johnson, CEO of ORNL FCU. “His practical approach and adaptation to evolving economic, compliance and member needs of CU Community and ORNL FCU will be essential in achieving sustainable growth and strategic objectives.”

This leadership transition is announced with appreciation for Jackson’s predecessor, Janita Clausell, who joined the CU

Janita Claussell

Community team in 2008. Throughout her tenure with the organization, Clausell has served as both Executive Vice President of CU Community, Vice President of Mortgage Lending for ORNL FCU and lastly President and Chief Operating Officer of CU Community. Clausell will now serve as Vice President of Sales and Service for ORNL FCU.

“This transition cannot be acknowledged without appreciation for Janita Clausell and her ongoing commitment to performance excellence. Throughout her career with ORNL FCU and CU Community, she has relentlessly married her diverse knowledge base of Credit Union operations with professional development endeavors. Our organization is honored to have Janita as a key component in our past victories, our current transformation and our even brighter tomorrow,” said Johnson.

Jackson joined ORNL FCU in February 2009 and has more than 15 years of experience in the financial industry. He served as Vice President of Mortgage Solutions, a CUSO in St. Louis, Mo. before joining ORNL FCU. Jackson studied accounting at Pellissippi State Community College and is a graduate of Bearden High School.

Clausell was hired as a teller at ORNL FCU in 1990 and has held many positions at the credit union.  She received her associate’s and bachelor’s degrees Magna Cum Laude in Organizational Management with a concentration in Marketing.

CUSOs are wholly-owned subsidiaries of their corresponding credit union(s). CU Community, LLC, is a CUSO that brings together a suite of mortgage lending services that allows cost-effective origination of residential real estate loans available to every credit union regardless of size and experience in mortgage lending. ORNL FCU is one of many area credit unions that use the services of CU Community, LLC.

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ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong.  Established in 1948 with 10 founding members, ORNL Federal Credit Union’s assets have grown to over $1 billion and membership has grown to over 150,000.  Open to all businesses and anyone who lives, works, worships, or attends school in the 16 counties of Central East Tennessee, ORNL Federal Credit Union currently serves members in 32 branches located throughout Anderson, Blount, Campbell, Hamblen, Knox, Loudon, Monroe, Roane, Sevier and Union counties.

Media Contact:
Jeff Hooper
Ackermann PR
(865) 584-0550

Wayne Hood joins ORNL Federal Credit Union as Senior Vice President and General Counsel

Posted by admin – November 14, 2012

T. Wayne Hood

Oak Ridge, Tenn. – ORNL Federal Credit Union (FCU), East Tennessee’s largest credit union, has announced that T. Wayne Hood, Esq. has been appointed Senior Vice President and General Counsel.

Hood will provide senior leadership in regards to compliance, policy amendments, internal controls and overall risk management for the credit union.

“As ORNL FCU continues to evolve financially and culturally, legal guidance becomes increasingly important to ensure sound and responsible management of our members’ finances and trust,” said Chris Johnson, CEO. “Wayne will be a key resource in disseminating compliance information throughout our organization, educating our staff regarding emerging risk management and compliance issues and coordinating regulatory examinations.”

Hood’s responsibilities at ORNL FCU will include reviewing credit union policies and procedures to ensure compliance with all related laws and regulations, recommending policy changes to senior management that will facilitate the credit union’s compliance program, reducing risk, reflecting changes in regulations, updating and disseminating information regarding laws and regulations and providing legal counsel/handling legal matters.

A Certified Regulatory Compliance Advisor, Hood’s expertise and experience with the unique needs of credit unions will be instrumental in the development of the policies and procedures that reflect ORNL Federal Credit Union’s business model, strategic goals and core values.

Hood most recently served on the banking, real estate and financial services and business services groups of Butler, Snow, O’Mara, Stevens and Cannada, PLLC Law Firm in Nashville, Tenn.

He holds a bachelor’s degree from Harding University and a juris doctorate from the University of Mississippi.

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ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong.  Established in 1948 with 10 founding members, ORNL Federal Credit Union’s assets have grown to over $1 billion and membership has grown to over 150,000.  Open to all businesses and anyone who lives, works, worships, or attends school in the 16 counties of Central East Tennessee, ORNL Federal Credit Union currently serves members in 32 branches located throughout Anderson, Blount, Campbell, Hamblen, Knox, Loudon, Monroe, Roane, Sevier and Union counties.

Media Contact:
Jeff Hooper, Ackermann PR
Phone: (865) 584-0550
Email: jhooper@ackermannpr.com

ORNL Federal Credit Union Provides Local Economic Development Support to Greater Growth LLC

Posted by Erin Freeman – May 8, 2012

ORNLFCU logoOak Ridge, Tenn. – ORNL Federal Credit Union today announced it had provided financing to Greater Growth LLC, a Lenoir City startup business specializing in aquaponics, a natural form of hydroponics that uses the nutrient rich effluence from farm raised fish to fertilize plant growth rather than manufactured fertilizers.

Owned by Joel and Linda Townsend, the Greater Growth operation will be completely free of herbicides and pesticides qualifying it for USDA Organic Certification. According to the USDA, organic farming has been one of the fastest growing segments of United States agriculture for more than a decade with a recent average year to year increase of 15 percent.

“ORNL FCU is proud to support community and economic development in this way as Greater Growth will not only create agricultural jobs, but it is also an organic and green business that will highlight our region as being a key player in the creation of a highly desirable product in an expanding industry,” explained Chris Johnson, ORNL FCU President/CEO.  “Greater Growth’s ‘locally grown’ initiative is supported by the presence of major grocery chains and specialty stores in our area who are emphasizing, more than ever, the sale of organic and locally grown farm products.”

According to the Townsends, the operation also will utilize the local restaurant industry as an additional source of sales and will utilize solar paneling to generate much of its electricity as well as gathering rain water for use within its system.

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ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong.  Established in 1948 with 10 founding members, ORNL Federal Credit Union’s assets have grown to over $1 billion and membership has grown to over 150,000.  Open to all businesses and anyone who lives, works, worships, or attends school in the 16 counties of Central East Tennessee, ORNL Federal Credit Union currently serves members in 32 branches located throughout Anderson, Blount, Campbell, Hamblen, Knox, Loudon, Monroe, Roane, Sevier and Union counties. For more information about ORNL Federal Credit Union, visit www.ornlfcu.com.

Media Contact:
Erin Freeman
(865) 584-0550
efreeman@ackermannpr.com