Commonwealth Credit Union

Last updated
Commonwealth Credit Union
Company type Credit union
Industry Financial services
Founded1951
Headquarters Frankfort, Kentucky, United States
Area served
Kentucky
Key people
Karen Harbin, President and CEO
Products Savings; checking; consumer loans; business loans; mortgages; credit cards
Total assets $2.57B USD (2025)
Number of employees
358
Website ccuky.org

Commonwealth Credit Union is a state chartered credit union headquartered in Frankfort, Kentucky. It is regulated under the authority of the National Credit Union Administration (NCUA) of the U.S. federal government. Commonwealth Credit Union is the largest credit union in Kentucky and had $2.57 billion in assets, 130,000 members, and 17 branches as of March 2025. [1] [2]

Contents

Commonwealth's field of membership extends to anyone in Kentucky who is immediately family of current members, employees or members of certain employers and associations, and affiliated members of partner associations. [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] In May 2025, Commonwealth Credit Union merged with Eastern Kentucky Federal Credit Union. [10]

References

  1. ↑ "Kentucky - Credit Unions". iBanknet.com. Retrieved August 29, 2025.
  2. ↑ "Commonwealth Credit Union". iBanknet.com. Retrieved August 29, 2025.
  3. ↑ "Become a Member". CCUKY.org. Retrieved August 29, 2025.
  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.
  10. ↑ "Commonwealth Credit Union Expands Commitment to Eastern Kentucky with Enhanced Services and Community Focus" (Press release). Frankfort, KY: Commonwealth Credit Union. May 30, 2025.
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