Commonwealth Credit Union

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 $1.27 billion in assets, 103,513 members, and 15 branches as of 2019.[1][2]

Commonwealth Credit Union
Credit union
IndustryFinancial services
Founded1951
HeadquartersFrankfort, Kentucky, United States
Area served
Central Kentucky (24 counties)
Key people
Karen Harbin, President and CEO
ProductsSavings; checking; consumer loans; business loans; mortgages; credit cards
Total assets$1.27B USD (2019)
Number of employees
302
Websiteccuky.org

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] In 2017, Commonwealth became the official credit union of Rupp Arena.[9]

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References
  1. "Credit Unions In Kentucky". CUDATA.com. Retrieved 2019-05-10.
  2. "A short history of Commonwealth CU". USACreditUnions.com. Retrieved 2017-10-30.
  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.
  9. "Rupp Arena Events". CCUKY.org. Archived from the original on 2017-11-07. Retrieved 2017-10-30.
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