Tusculum College, Appalachian Community Federal Credit Union strengthening partnership with installation of virtual teller machine on campus

Tusculum College and Appalachian Community Federal Credit Union continue to strengthen their partnership with the installation of a virtual teller machine on the Greeneville campus.

The virtual teller machine was unveiled during a ceremony Tuesday by officials from Tusculum and ACFCU. The partnership between the college and ACFCU began last fall and initially focused on the Volunteer Income Tax Assistance program. ACFCU helped fund Tusculum’s adoption of the program, overseen by longtime VITA expert Dr. Harold Branstrator, associate professor of management at the college

By April, that partnership had resulted in more than 600 taxpayers receiving free, high-quality tax return preparation. Additionally, more than 20 Tusculum students had gained valuable experience and been exposed to ACFCU and its mission to serve low and moderate-income people and communities. One of those students, Craig Cutler, who graduated in May, now works full-time in the credit union’s accounting department.

“The Appalachian Community Federal Credit Union has provided valuable real-world experience for Tusculum students who participated in the VITA program as well as giving them an opportunity to give back,” said Dr. Nancy B. Moody, president of the college. “We share a common mission with the credit union to strengthen the communities we serve and improve the quality of life for the people of this region. The partnership is a natural progression of this shared mission, and we appreciate the willingness of ACFCU to continue to work with us to provide both educational and service opportunities to Tusculum students.”

Recognizing these similarities in their missions, ACFCU and Tusculum leaders met in the spring and summer to discuss deepening the partnership. Dr. Michael Dillon, dean of the School of Business and Technology at Tusculum, proposed expanding the relationship by adding a minor in tax, while ACFCU CEO Ron Scott suggested adding courses that would train Tusculum students to teach financial literacy.

ACFCU also provided an additional financial pledge to Tusculum to help offset costs of the deepening partnership. The first physical symbol of the partnership, the new Virtual Teller Machine, anchors what could become a full-fledged financial learning laboratory at the college.

“While it’s just one part of a much deeper partnership with Tusculum, we believe the VTM will be a tremendous asset for students, faculty and staff of Tusculum,” said ACFCU CEO Ron Scott. “It provides a convenient, full array of financial services from a trustworthy partner that is dedicated to financial literacy and reaching underserved communities, something we believe dovetails well with Tusculum’s mission.”

The VTM, located in the new Ronald H. and Verna June Meen Center for Science and Math on campus, is the third that Appalachian Community Federal Credit Union has installed this year. The VTM provides ACFCU members (membership is open to the entire Tusculum family and their family members) can do virtually anything at the VTM that they can accomplish in a brick and mortar financial center. This includes deposits, loan applications, withdrawals and much more.

Dr. Nancy B. Moody, president of Tusculum College and Ron Scott, CEO of Appalachian Community Federal Credit Union, were on hand to celebrate the expansion of their partnership with the installation of a virtual teller machine in the new Ronald H. and Verna June Meen Center for Science and Math.

Scott said ACFCU is also looking forward to the tremendous learning opportunities the VTM and other elements of the partnership will provide to Tusculum’s business programs, service learning component and other college departments.  “We’re thrilled that Dr. Moody and Dr. Dillon with his strong leadership of the business department have embraced ACFCU and this innovative aspect of our partnership,” Scott said.

Dr. Moody concurred. “We are excited to see how our partnership with ACFCU can grow and provide our students with valuable learning experiences in the ever-changing world of finance as well as help them grow to be good citizens through service in such projects as VITA,” she said.

ACFCU leaders hope the credit union can provide resources for Tusculum to grow its business and service learning opportunities in ways that reflect its focus on social responsibility. “Individuals and families in our region face many financial challenges,” Scott said. “ACFCU specializes in helping people make wise financial decisions, build their credit and gain access to fair, non-predatory lending options. We’ve been pleased to discover Tusculum’s similar commitment to social justice and thrilled at the college’s receptivity to working together in ways that can advance both our missions and uplift the region.”