Our History

On July 12, 1951, eight people at Arnold Engineering Development Center (AEDC) pool their savings to form a credit union. The National Credit Union Administration (NCUA) approves their charter, and AEDC Federal Credit Union is born. Our first "branch" is a desk in the corner of the ARO Benefits Office in the Administration and Engineering (A&E) Building at AEDC.

Credit union membership grows to 819. The credit union is growing at a rate of $12,000 in assets per month. The credit union has made 1,231 loans totaling $285,000.

Credit union operations move out of the A&E Building into a dedicated room next to the cafeteria in the Fire, Police and Communications (FP&C) Building.

As the credit union continues growing, new products and services are introduced to serve the needs of our members. Long-term savings accounts and checking accounts are added to the product lineup. As our membership grows, it's becoming apparent that we'll need more than one branch.

The second credit union branch opens in Northgate Mall in Tullahoma, Tenn.

Individual Retirement Accounts (IRA) and Certificate Accounts are added to the credit union's product offerings.

In 1980, the grand opening of a new main branch facility in Tullahoma signals a decade of growth that will see three new branches opened in Middle Tennessee.

The '80s ended with the credit union hitting an important growth milestone: over $200 million in assets.

In late 1990 as the Persian Gulf War begins, credit union staff wears red, white and blue in support of U.S. troops. And when the local unit of the 251st Army Reserve is activated, the credit union quickly establishes the "Families of the 251st Account" for contributions to help military families while their loved ones are overseas defending our country.

In October 1995, the credit union launches our first website. In the coming months, it will be updated to include current interest rates and online services.

The credit union introduces the Visa Check Card, called the Freedom Card, to our members.

Throughout the '90s, banks sought to eliminate credit unions' not-for-profit, tax exempt status and limit consumer access to credit unions. With the help of nearly 60,000 AEDC Federal Credit Union members submitting cards and letters to Congress, credit unions won both legislative battles.

The '90s ended with the credit union hitting another important growth milestone: surpassing 100,000 members.

2006 is a big year for the credit union. Credit union assets reach $1 billion, and AEDC Federal Credit Union is renamed Ascend Federal Credit Union. 

As a display of our continued commitment to help members become the best financial stewards they can be, Ascend offers youth accounts to teach the next generation good financial habits.

Ascend breaks ground on our new corporate headquarters in Tullahoma. The building will be completed in 2010.

Ascend introduces mobile account access. Now members with a smart phone can manage their accounts anywhere, anytime.

Ascend airs our first TV commercial.

Ascend secures naming rights for Nashville's newest outdoor music venue. Ascend Federal Credit Union Amphitheater quickly becomes one of Nashville's most popular music venues.

In July 2019, the credit union hits another important growth milestone: surpassing 200,000 members.

Ascend opens the Regional Operations Center in Murfreesboro and the Member Service Center in Tullahoma. The credit union also soars past the $3 billion asset mark in July 2020 amidst the COVID-19 pandemic.

Matt Jernigan is named President and CEO following the retirement of Caren Gabriel, who served in the role since in 2004. The Ascend headquarters building in Tullahoma is renamed the Caren Carden Gabriel Building in November of 2023.

New checking products are introduced, including Ascend High-Yield and Rewards Checking accounts.

Ascend announces an agreement with Opry Entertainment Group to remain as naming rights sponsor of Ascend Federal Credit Union Amphitheater through 2035.

Ascend celebrates 75 years of service.