Commonwealth Credit Union
 | |
| Company type | 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
- ^ "Credit Unions In Kentucky". CUDATA.com. Retrieved 2016-08-15.
- ^ "A short history of Commonwealth CU". USACreditUnions.com. Retrieved 2016-08-15.
- ^ "About Us". CCUKY.org. Retrieved 2016-08-15.
- ^ Collins indicted for forgery. Kentucky New Era. 3 October 1983.
- ^ Credit union's proposed takeover being studied. Park City Daily News. 29 June 1983.
- ^ Community Page. Banking Wire. 14 January 2002.
- ^ Community Page. Banking Wire. 1 November 2004.
- ^ "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.