Commonwealth Credit Union
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| Credit union | |
| Industry | Financial services |
| Founded | 1951 |
| Headquarters | Frankfort, Kentucky, USA |
| Products | Savings; checking; consumer loans; business loans; mortgages; credit cards |
| Total assets | $834M USD (2008) |
| 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 largest credit union in Kentucky[1] and had $834 million in assets, approximately 84,000 members, and 3 branches as of 2008.
Commonwealth's field of membership extends to any participant in a Kentucky Retirement System and their family. 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.[2][3]
Commonwealth hosts an annual charity run that benefits charities in Kentucky[4] as well as an annual "Stuff the Bus" campaign to provide local schools with school supplies.[5]
References
- ↑ You may have been scammed last night. The State-Journal. 7 August 2008.
- ↑ 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.
