Commonwealth Credit Union

Commonwealth Credit Union
Credit union
Industry Financial services
Founded 1951
Headquarters Frankfort, Kentucky, United States
Area served
 Central Kentucky (24 counties)
Key people
 Karen Harbin, President and CEO
Products Savings; checking; consumer loans; business loans; mortgages; credit cards
Total assets $1.07B USD (2016)
Number of employees
 263
Website ccuky.org

Commonwealth Credit Union is a state chartered credit union headquartered in Frankfort, Kentucky. Commonwealth is regulated under the authority of the National Credit Union Administration (NCUA) of the U.S. federal government. Commonwealth is the second-largest credit union in Kentucky and had $1.07 billion in assets, 89,222 members, and 10 branches as of 2016.[1][2]

Commonwealth's field of membership extends to anyone residing or working in their 24-county service region.[3] Member deposits are insured up to $250,000 through the National Credit Union Share Insurance Fund, credit unions' equivalent to the Federal Deposit Insurance Corporation (FDIC).

History

Commonwealth Credit Union was founded on April 2, 1951 with $2,700 in assets and 122 members. By 1976, membership had grown to nearly 6,000 and its assets to $2.8 million. Commonwealth absorbed the Kentucky Teachers and Associated Employees Credit Union in 1983.[4][5]

Commonwealth hosts an annual charity run that benefits charities in Kentucky[6] as well as an annual "Stuff the Bus" campaign to provide local schools with school supplies.[7]

In November 2015, Commonwealth became the preferred credit union partner for the University of Louisville.[8]

References

  1. ↑ "Credit Unions In Kentucky". CUDATA.com. Retrieved 2016-08-15.
  2. ↑ "A short history of Commonwealth CU". USACreditUnions.com. Retrieved 2016-08-15.
  3. ↑ "About Us". CCUKY.org. Retrieved 2016-08-15.
  4. ↑ Collins indicted for forgery. Kentucky New Era. 3 October 1983.
  5. ↑ Credit union's proposed takeover being studied. Park City Daily News. 29 June 1983.
  6. ↑ Community Page. Banking Wire. 14 January 2002.
  7. ↑ Community Page. Banking Wire. 1 November 2004.
  8. ↑ "U of L is partnering with Commonwealth Credit Union to help students, faculty and alumni achieve their financial goals". USAToday.com. Retrieved 2016-08-15.

External links

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