When you join MIDDLE TENNESSEE FEDERAL CREDIT UNION, you're not a customer ; you're an owner. We are a not-for-profit federally chartered and insured financial institution. Not-for-profit means that there are no outside investors and our Board of Directors is elected by the membership. They donate their time and expertise to serve you, the member. Further, all the credit union's earnings are returned to you, our member-owner, in the form of free or low cost products and services, low loan rates, and the highest possible dividend rates. Federally chartered and insured means that we operate under a federal charter of incorporation and that your deposits are insured up to at least $250, 000 by the NCUA, National Credit Union Administration. A credit union is a not-for-profit cooperative owned and operated by its members. An annual membership meeting provides members the opportunity to be directly involved in their credit union. At these meetings, members hear reports from credit union officials and are free to express their opinions about the operations of the credit union. They can talk about policies and make suggestions. Most importantly they can vote for the Board of Directors. The members who own the credit union elect people from among their own ranks to serve on the Board of Directors and various committees. Credit unions are chartered to serve certain groups. A key element of cooperatives is their field of membership. For today's credit unions, the field of membership is based on something that the members have in common such as, where they work, or where they live, or what type of work they do. To become part of the Middle Tennessee Federal Credit Union you need to WORK, WORSHIP, RESIDE, or ATTEND SCHOOL in Putnam County. You can also become a member if you have a family member that is a member of the Credit Union. Family members cover: spouses, siblings, children, grandchildren, stepchildren, grandparents and parents. There is no cost to join the MIDDLE TENNESSEE FEDERAL CREDIT UNION. There are no annual fees. To become a member, open a regular share/savings account with a $25.00 deposit. This is often called the membership account. This $25.00 deposit gives you one share in the co-op and is required to remain in the share savings account to keep the membership active. Once you open your share/savings account to become a member, all other credit union products and services are available to you and membership is available to your immediate family. If you decide to close your membership, you simply close your regular share/savings account and withdraw your $25.00.