By A.J. Kaufman, Managing Editor
For Appalachian Community Federal Credit Union (ACFCU), what began as a cooperative 94 years ago — founded on the principle of people helping people — has grown into a $181 million financial institution serving members across Northeast Tennessee, Southwest Virginia and Kentucky. As ACFCU enters a new chapter, the Business Journal of Tri-Cities asked newly appointed President and CEO Paul Penland and Chief Experience Officer Miranda Cooper to discuss the credit union’s history, what makes it different and where it’s headed next.
Business Journal: Appalachian Community Federal Credit Union has been serving this region since 1932. Why was the credit union originally created?
Paul Penland: Originally, we were formed by the employees of Mead Paper Mill (Domtar) in Kingsport and named Mead Credit Union. Like many credit unions established during that era, we were founded because working people needed access to affordable financial services and a financial institution that truly put their interests first. It wasn’t about maximizing profit. It was about creating opportunity. Ninety-four years later, and now called Appalachian Community Federal Credit Union, that purpose still guides every decision we make.
Our greatest asset has always been the trust our members place in us. Our communities have changed over the decades, but people still need a financial partner they can count on—someone who knows their name, understands their goals and is invested in their success. As we look toward our centennial, we’re committed to honoring that legacy while continuing to grow, innovate and meet the evolving needs of the communities we serve.
BJ: What makes ACFCU unique?
Miranda Cooper: We are here to provide accessible financial products, services and education that enrich the lives of our member-owners. Our goal is to build lifetime relationships. It’s what we call “the Appy Way.” Those aren’t just words on a wall; they’re the expectations we have for ourselves every single day.
One thing I tell people all the time is that I believe everyone should belong to a credit union — even if it isn’t ours. That may sound unusual, but credit unions are collaborative by nature. We all exist to improve people’s financial well-being and strengthen the communities we serve. Of course, we’d love people to choose Appy, but we’re just as passionate about educating people on the value of the credit union difference.
BJ: How do you measure success?
PP: Financial strength is important because it allows us to invest in technology, our employees and the communities we serve. But success isn’t measured by financial statements alone. The experience our members have every time they interact with us matters just as much. Whether someone visits a branch, applies for a loan, calls our team, or uses our mobile app, we want every interaction to reinforce the trust they’ve placed in us.
MC: One of the ways we measure that experience is through MemberXP, a member experience platform that gathers real-time feedback after member interactions. It uses the Net Promoter Score (NPS), a nationally recognized measurement of member loyalty and satisfaction, giving us valuable insight into what we’re doing well and where we can improve. That feedback isn’t collected just to create reports. It drives conversations, coaching and continuous improvement across every department.
This year, we’re proud to have been recognized nationally with four MemberXP Best of the Best awards for Loan Experience, Member Care, Mobile App Experience and Transaction Experience. Recognition like that is incredibly meaningful because it comes directly from our members. It tells us they’re experiencing the level of service we strive to provide every day.
BJ: Appalachian Community Federal Credit Union is also a Community Development Financial Institution (CDFI). Why is that significant?
PP: Our CDFI designation reflects our commitment to serving communities that may have fewer financial resources or less access to traditional financial services. It gives us additional opportunities through CDFI grants to help individuals, families and small businesses access affordable financial solutions that create lasting impact.
Small businesses are the backbone of our local economy. When local entrepreneurs succeed, they create jobs, strengthen neighborhoods and keep our communities vibrant. We’re proud to be a financial partner that helps those businesses start, grow and thrive. Supporting community development isn’t a program for us; it’s part of our mission.
BJ: Community involvement has always been a priority. What does that look like today?
MC: Our mission doesn’t stop at our branch doors. It extends into every community we serve. You’ll find our team volunteering, supporting local schools, partnering with our local chambers of commerce, sponsoring festivals, serving on nonprofit boards and investing in organizations that make our region stronger.
One initiative that’s especially close to our hearts is Camp Appy, an annual hands-on financial education event launched in 2025 for our youngest members. We wanted to create an experience that makes learning about money fun while helping kids build confidence with budgeting, saving and making smart financial decisions.
This year, Camp Appy received a national Diamond Award from America’s Credit Unions, recognizing excellence in marketing and financial education. While we’re honored by the award, what means even more is seeing children leave camp excited about their financial future. If we can help build healthy financial habits early, we’re investing in the next generation of our community.
BJ: What excites you most about the future?
PP: Appalachian Community Federal Credit Union has tremendous momentum. We’ve continued to grow while investing in technology, expanding our services and creating an even better experience for our members.
As we move into this next chapter, our goal is to become even more valuable to the communities we serve. Leadership transitions naturally bring change, but one thing that won’t change is our commitment to putting members first. That is a big reason why our credit union has existed for nearly 100 years. I’m fortunate to be surrounded by a dedicated leadership team and exceptional employees who have built a strong foundation, and I’m excited about what we’ll accomplish together.
