Subject to the limitations on maximum effective rates of interest and service charges contained in §§ 45-4-601 — 45-4-604, a credit union chartered by the state of Tennessee has the power to make loans upon the same terms and conditions as permitted credit unions chartered by the federal government.
State chartered credit unions — Power to make loans — Interest rate
Tenn. Code Ann. § 45-4-610, under Loans.
Tenn. Code Ann. § 45-4-610