Tennessee’s second oldest surviving credit union, Chattanooga Federal Employees Credit Union recently hosted its 100th Annual Meeting. The credit union was created by Chattanooga postal employees and was chartered on Jan. 13, 1925.
During Chattanooga Federal Employees Credit Union’s 100th Annual Meeting, the credit union celebrated the leadership of longtime board member, Bill Swafford, who has served on the board for 44 years. His board term expired on Jan. 28.
“Volunteer leaders like Bill helped build today’s credit union movement,” said Fred Robinson, president and CEO of the Tennessee Credit Union League. “We sincerely thank Bill for his dedication and valuable contributions to Chattanooga Federal Employees Credit Union and the greater credit union movement for the past 44 years.”
Bill began his postal career in Flint, Mich., in 1955. A few years later he relocated to Chattanooga. He worked in the audit section at the Postal Inspection Service Division Headquarters, responsible for 26 domiciled offices throughout Alabama, North Carolina, South Carolina and Tennessee.
“In January 1981, Bill was elected to the Supervisory Committee,” said Mark Fraker, CEO of Chattanooga Federal Employees Credit Union. “He served in this capacity for two years before being elected to the Board of Directors in January 1983. He’s been elected for 13 consecutive terms since then, always running unopposed.”
Despite retiring from the Postal Service and starting a second career, Bill chose to continue his board leadership.
Bill retired from the Postal Service in 1992 and went back to school at age 55 earning a degree in Radiology Technology. He embarked on a second career as a radiologic technician and retired a second time after working for more than 20 years at Memorial Hospital.
Chattanooga Federal Employees Credit Union has grown since Bill began his volunteer board service.
“When Bill joined the Supervisory Committee, the credit union had assets of $5 million and paid 7% on Regular Shares and 9% on Special Shares, the maximum dividend allowed by law,” said Mark. “We are honored to recognize Bill for his servant leadership to Chattanooga Federal Employees Credit Union. His dedication to the credit union movement for more than four decades is a testament to his strong belief that credit unions help people to live financially stronger.”
Mark Fraker, CEO of Chattanooga Federal Employees Credit Union, Jack Boran, board chair, and Fred Robinson, president and CEO of the Tennessee Credit Union League, honor Bill Swafford for 44 years of board service.
