Fort Knox Federal Credit Union primarily serves areas of north central Kentucky. However, its field of membership now includes members of American Consumer Council which is free and open to anyone. Credit union membership requires a $10 one-time fee and a minimum $5 balance in the share savings account.
Abound Credit Union is open to: (1) Anyone who lives, works, regularly conducts business, worships, or goes to school designated areas in Kentucky; (2) Active duty Military, National Guard, Reserve, or Civil Service employees; (3) Retired Civil Service or Military; (4) Contractors attached to Fort Knox Army base; (5) Employees of one of the SEGs (must contact the credit union for a list of employer groups)
See current membership details
The biggest drawback here is that they do not provide for designating a Beneficiary on your IRA! That would be one type of account where it is most important. Not possible on the basic Savings either. They require a copy of your Social Security card to join - first time I had to use the actual card in my life! Their accounts are OK but for all of them you can do better elsewhere. No advantage to open an account here.
Recently I was informed by credit union provider of identity protection my coverage had been cancelled. When I ask the representative with Identity Secure who authorized the cancellation I was told to contact the financial institution where I purchased the service. I contacted the credit union and spoke to a representative regarding the cancellation without my authorization and why the fee for service was still being deducted from my account. The representative would not provide the information I requested. I commend the credit union for refunding the fees, however I believe there is a communication problem between the credit union and identity protection provider.
|Return on Assets - YTD||1.25%|
|Return on Equity - YTD||8.26%|
|Annual Interest Income||$48.4MM|
|Assets and Liabilities|
|Assets||Q3 2019vs Q3 2018||$1.65B$1.53B|
|Loans||Q3 2019vs Q3 2018||$1.21B$1.15B|
|Deposits||Q3 2019vs Q3 2018||$1.39B$1.28B|
|Equity Capital||Q3 2019vs Q3 2018||$249.0MM$233.4MM|
|Loan Loss Allowance||Q3 2019vs Q3 2018||$26.8MM$25.5MM|
|Unbacked Noncurrent Loans||Q3 2019vs Q3 2018||$11.7MM$12.7MM|
|Real Estate Owned||Q3 2019vs Q3 2018||$30.00K$134.00K|
Rates for Abound Credit Union are currently being reviewed.