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Jefferson Federal opens new branch

Jefferson Federal Bank, a community financial institution based out of Morristown, celebrated the opening of its Knoxville regional headquarters located on Bearden Hill this past week. This is the second Jefferson Federal location opened in Knoxville.

The first, in Farragut, opened in July 2006.

“We put a year-and-a-half into planning our Knoxville openings, and our first year in Farragut has been a tremendous success,” Charles Robinette, chairman of the Knoxville-region banking operations, said. “The Knoxville market needed a hometown bank with a different approach to banking, and I think we’ve met that need and hopefully exceeded our customers’ expectations. We are excited to launch this next phase with the opening of our regional headquarters.”

To date, the banking operations have created 22 jobs in Knoxville, and since the bank’s opening in January 2005, it has closed $313 million in loans.

“With two offices now open in Knoxville, Jefferson Federal is making, and will continue to make, a significant economic impact in Knoxville,” Knoxville Mayor Bill Haslam said. “Through the Jefferson Federal Charitable Foundation, they are also helping numerous Knoxville charitable organizations. “

We are excited to celebrate the grand opening of their regional headquarters, and welcome Jefferson Federal Bank to Knoxville. We’re glad they are here.”

The Jefferson Federal Charitable Foundation, a 501(c)(3) was founded in July 2003 to provide funding support to charitable causes within the areas that the bank serves. In Knoxville, the foundation has worked with Goodwill Industries, Helen Ross McNabb Foundation, Knoxville Museum of Art, Historic Tennessee Theatre, Junior Achievement – JA World, Knoxville Symphony Orchestra, Knoxville Track Club, Pellissippi State Technical Community College and the United Way.

“Coming to Knoxville is more than just doing business here. Our goal is to be involved in projects that will make a difference in our community,” said Robinette.

As part of its grand opening celebration, Jefferson Federal will give away a $1,500 travel voucher that can be used toward the vacation of the winner’s choice, with no purchase necessary. Additionally, customers can get a guaranteed annual percentage yield (APY) of 4.60% for six months on new money market accounts with a minimum balance of $5,000 and a new or existing deposit account.

“It’s a great time to open an account, or just stop in and see just how differently we approach banking,” said Tony Carasso, the president for the Knoxville-region. “We would like to invite people to come and take a tour of our new facility, talk to us about our services and see if we have the level of service and the competitive rates to meet, and hopefully exceed, their needs.”

Jefferson Federal is striving to create a unique banking atmosphere, and in order to accomplish this goal, the company has taken a retail approach to banking. When customers come into the bank, they are greeted by a concierge, who introduces them to the person who can handle their needs. Additionally, instead of facing a row of tellers, customers are offered the convenience of talking with a sit down teller.

“We focus on getting to know our customers and their needs, and this unique banking atmosphere is the reason we’ve been so successful. It is hometown banking the way it used to be with personalized service, attention to detail and friendly faces that know you,” said Andy Smith, president and CEO of Jefferson Federal in Morristown. “When we decided to expand our services outside of Morristown, we knew Knoxville was an excellent market, and that there was a demand for the level of service we provide to our customers. Our first year in the market has proven that this analysis was correct, and we hope to continue to grow in the Knoxville-region.”

Jefferson Federal is a full service bank offering mortgages, commercial loans and retail lending, along with a variety of retail and commercial deposit products.


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