History: Survival of a Finance Company (Since 1975)

Colonial Loan Association, Inc. is a financial institution, licensed under the Tennessee Industrial Loan & Thrift Act. Colonial is a TN Corporation chartered in 1975 by a local Morristown Savings & Loan. Colonial which was formed as one of the first finance companies under a change in the Savings and Loan Act in 1975, operated as an independent subsidiary thru the Savings and Loan crisis of the 80’s and then bank mergers since that time until sold June 1, 2005 to private individuals. These individuals formed a Holding Company known as C&H Investments who own the Colonial Loan stock and assets.
Colonial was under the Management of President Dewey Buchanan, one of the original officers, until which time his Vice president, Carla Bunch, assumed control as president. Mr. Buchanan remains as Board Chairman and part time special projects / consultant. Ms. Bunch, with prior experience with Beneficial came to Colonial in June 1982. Joy Shrader, C.O.O. came with Colonial in August 1984. They along with other valuable long term management and employees have been responsible for the successful, reputable and profitable reputation of colonial.

Thru a Bank referral program established with Union Planters in 1998 for people who did not have satisfactory credit for bank requirements, Colonial has established sales finance connections with dealers throughout the South East, into Midwest and Texas, which remain very profitable today.

Colonial makes credit decisions based on loan policies, credit obtained thru reporting agencies and/or quality and value of collateral. Our experienced loan officers go “outside the box” to make these decisions. We realize the importance of considering economic and hardship pressures which do not define the customer but make it hard at times to have immaculate credit. Approvals are given within reasonable call back period of time.