Volunteer Federal is recognized for its financial strength, soundness & safety. We have consistently earned the highest rating of 5-stars from Bauer Financial, an independent and unbiased source for bank and credit union ratings. In its rating of Volunteer Federal, Bankrate noted the “very high measure of asset quality, strong capitalization, and seemingly ample liquidity.”

“Our people are responsible for our performance. Just bank with us and you’ll find out what makes Volunteer Federal a quality and caring financial institution.” – Bob Dalton, Director

Volunteer Federal Savings Bank is a mutual institution with a state charter which employs strategies that differ greatly from publicly traded financial institutions. We are not driven by returns on investment or meeting market and stockholder expectations.

Rather, we are driven by servicing our community’s financing needs while ensuring and maintaining growth, asset quality, and liquidity. This had been successfully accomplished by adhering to conservative management practices that target steady and controlled growth over the years.

This explains why Volunteer Federal continues to be profitable through difficult economic conditions. In fact, throughout our history, Volunteer Federal has never recorded a loss because its strategy is based on flexibility and long term outcomes.

This strategy has enabled Volunteer Federal to endure several crises, including the savings and loan crisis in the 1980’s.

“The success of this institution has been driven by a conservative and involved board of directors and a very diligent and enthusiastic group of service providers. The performance of Volunteer Federal begins with these two ingredients.” – Larry Hicks, Chairman

Volunteer Federal Snapshot

  • Established on January 1, 1973
  • FDIC insured since March 15, 1974 (Certificate #31694)
  • Regulated by the Tennessee Department of Financial Institutions (TDFI) and the Federal Deposit Insurance Corporation (FDIC)
  • Ownership: Non-stock Mutual
  • Bauer Financial Rating: 5 out of 5 stars

Our Mission Statement

“Volunteer Federal Savings Bank will, both prudently and professionally, utilize its resources to ensure ongoing stability and fulfill the financial product needs and customer service expectations of individuals, families, businesses, and communities located within and around Monroe County, Tennessee.”


Tired of feeling like an anonymous account number, dealing with a huge banking corporation headquartered far away? Volunteer Federal Savings Bank is a locally owned, state chartered, FDIC-insured, financial institution. As a non-stock mutually-owned savings bank, Volunteer Federal’s depositors are its owners. We offer a full line of banking services to individuals, families, businesses, and organizations within and around Monroe County. Six VolFed branch locations – in Madisonville, Sweetwater, Vonore, and Tellico Plains – serve our communities. We are dedicated to providing neighborly, friendly customer service as the area’s only hometown community bank.