Commonwealth Credit Union (KY)

Overview / Commentary
417 High St
Frankfort, KY 40601

Commonwealth Credit Union (KY) is headquartered in Frankfort and is the 2nd largest credit union in the state of Kentucky. It is also the 222nd largest credit union in the nation. It was established in 1951 and as of June of 2023, it had grown to 324 employees and 121,660 members at 16 locations. Commonwealth Credit Union (KY) has an A health rating.

Field of Membership Restrictions

Membership in Commonwealth Credit Union is open to those who live, work, volunteer, worship, or attend school in the Kentucky counties of Anderson, Bourbon, Boyle, Bullitt, Clark, Estill, Fayette, Franklin, Garrard, Harrison, Henry, Jefferson, Jessamine, Lincoln, Madison, Mercer, Nicholas, Oldham, Owen, Powell, Scott, Shelby, Spencer, Trimble, or Woodford. Immediate family members of anyone eligible to join also qualify for membership.
See current membership details

Reviews (4)


Whether I go inside or through the drive thru, I am almost always satisfied with my bank. The employees are very friendly, and while they do engage in small talk, they still work efficiently and accurately. Whenever I have had a question (once concerning switching my joint account to a single account), they are prompt and helpful in their service. Their online banking works very well too, although I wish I could move money from account to account. However, I never think to ask them in person how this could be done; I'm sure they would be more than happy to help me with this. I like this credit union so much that when my daughter started making some money from a part time job, I encouraged her to open up an account here, too. They are also very community-minded, often hosting and sponsoring events to benefit members of the community. They are very competent, without being "stuffy" like many other banks.

good little credit union

Posted by: |

For the short period of time that I have been with Commonwealth credit union I have felt more like a person that everyone knows when walking through the doors unlike going to a bank where you are just another individual. the Bank gives decent apr's at least better than a bank which I consider to be terrible nowadays compared to what they used to be about 10 years ago. Commonwealth is very helpful with autoloans and has reasonable fees.

Kentucky Residents Only !!!

Posted by: |

Don't waste time applying IF you are not a Kentucky resident- You will be denied. This should be noted on their web site. This is becoming very common among small CUs and small banks. They want to sell you something - debt servitude, otherwise they're not interested in your account.


Posted by: |

The rates shown are VERY misleading!!!
Better call to get explanation of rates and maximun amount before proceeding!!


Health Grade Components

NCUA #61437
Year Chartered1951
Primary Regulator
Profit Margin
Return on Assets - YTD0.91%
Return on Equity - YTD10.03%
Annual Interest Income$44.0MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$2.12B$1.98B
LoansQ2 2023vs Q2 2022$1.55B$1.38B
DepositsQ2 2023vs Q2 2022$1.83B$1.73B
Equity CapitalQ2 2023vs Q2 2022$190.3MM$188.9MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$11.8MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$5.7MM$2.9MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0

Rates for Commonwealth Credit Union (KY) are currently being reviewed.



Lexington Area

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