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 $2.2 billion in assets, 119,000 members, and 16 branches as of January 2024.^[1][2]

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	$1.27B USD (2019)
Number of employees	302
Website	ccuky.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]