| Commonwealth Credit Union | |
| Type: | Credit union |
| Foundation: | 1951 |
| Location: | Frankfort, Kentucky, United States |
| Key People: | Karen Harbin, President and CEO |
| Area Served: | Central Kentucky (24 counties) |
| Industry: | Financial services |
| Products: | Savings |
| Assets: | $1.27B USD (2019) |
| Num Employees: | 302 |
| Homepage: | 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 $2.2 billion in assets, 119,000 members, and 16 branches as of January 2024.[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).
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]