The Tennessee Department of Safety Credit Union is a financial organization chartered in the state of Tennessee. The credit union is a cooperative non-profit institution organized to promote thrift and provide an economical source of confidential credit for those who belong. The members elect a five-member Board of Directors to set policies and recommend plans of action for the Credit Union. A three member Supervisory and Credit Committee is also appointed. A full-time staff administers the activities of the Credit Union.
Employees and retirees of the Tennessee Department of Safety & Homeland Security and Tennessee Bureau of Investigation or members of their family may join the Credit Union by completing a membership card and depositing $5.00 or more in a regular share account. A one time fee of twenty five cents (.25) is also required. Memberships are also offered to the family of the employee member. This includes spouse, children, grandchildren, parents, grandparents, brothers, sisters, and step-family members regardless of age or dependency.
Membership may be kept as long as there is at least $5.00 in the regular share account, and all accounts are handled as agreed.
A spouse and/or children, or anyone else may be joint owner(s) of an account. However, a joint owner is not a member.
Individual Retirement Accounts are available to all wage-earning members. This government approved program allows contributions each year. Traditional and Roth IRA's are available.
Deposits may be made by payroll deductions, check or cash. Deposits can be made at the Credit Union office or by mail. Make checks payable to TDOS Credit Union, and please include the account number on the check.
A statement of accounts showing all transactions, rates, and balances are sent to all members quarterly. Members who have ACH transactions will receive a monthly statement.
Every account is insured up to $250,000.00 by NCUA, a Federal agency.
Withdrawals may be made upon request on savings that are not pledged toward the repayment of a loan. Withdrawals may be made in person, by telephone, by email, by fax, or by mail request. Withdrawal requests are typically honored the same day.
Regular share accounts grow by consistent deposits in cash, check and/or payroll deductions. Dividends are computed on a day-in-day-out basis and are posted quarterly on April 1, July 1, October 1 and January 1.
The Share Accumulation Account is a special savings account requiring a minimum balance of $3,500.00. Dividends are computed day-in-day-out and are posted quarterly on the same schedule as regular share accounts. The share accumulation account dividend pays higher than the regular share account.
Certificates of Deposit are available with terms from 90 days up to 24 months. The minimum balance required is $500.00. Rates are quoted at the time of purchase and can vary monthly.
A Christmas Club Account is available. Deposits can be made by payroll deduction and/or cash. Dividends are computed day-in-day-out and are posted quarterly on the same schedule as the regular share accounts. Checks are mailed in November of each year.
Loans may be obtained for many purposes. A member must be of legal age and in a financial position to repay the loan. Credit History must be satisfactory. All Credit Union loans are based on simple interest. Download Loan Apps Here
A personal loan program is available which allows up to three times monthly salary. Limits on this program are based on credit and the members ability to pay.
Life insurance on loans* is available to members in the amount equal to the outstanding loan balance. The maximum coverage is $30,000.00. In the event of death, loan balances are paid by this insurance program. Certain loans may be excluded based on health reasons.
Credit Disability loan insurance is available to members on all loans. Members pay the premium as part of their loan payments. This program is set up to make the members loan payments in the event of an accident or illness that will keep the member out of work in excess of 30 days.
To obtain membership cards, loan applications or more information please contact the office or write:
Tennessee Department of Safety Credit Union
1150 Foster Avenue
Nashville, Tennessee 37243