Commonwealth Credit Union (KY)


Overview / Commentary
502-564-4775
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 213th largest credit union in the nation. It was established in 1951 and as of September of 2023, it had grown to 333 employees and 122,106 members at 16 locations. Commonwealth Credit Union (KY)'s money market rates are 6X the national average, and it 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)

Satisfied

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.

Misleading

Posted by: |

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



Health

Health Grade Components

Overall
NCUA #61437
Year Chartered1951
Employees333
Primary Regulator
Profit Margin
Return on Assets - YTD0.83%
Return on Equity - YTD9.49%
Annual Interest Income$68.9MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$2.16B$2.02B
LoansQ3 2023vs Q3 2022$1.58B$1.43B
DepositsQ3 2023vs Q3 2022$1.87B$1.74B
Equity CapitalQ3 2023vs Q3 2022$188MM$178.4MM
Loan Loss AllowanceQ3 2023vs Q3 2022$18.4MM$12.6MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$7MM$3.6MM
Real Estate OwnedQ3 2023vs Q3 2022$0$87K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Commonwealth Credit Union (KY); we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Commonwealth Credit Union (KY) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%--Round Up Savings
0.20%--IRA Savings
0.15%--Christmas Savings
0.15%--Vacation Club Account
0.15%--Regular Savings Account
0.15%--Minor Saving

Commonwealth Credit Union (KY) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*$100k*-Money Market Account
OTHER TIERS: 1.80% $2.5k - $10k | 1.95% $10k - $25k | 2.10% $25k - $50k | 2.25% $50k - $100k

Commonwealth Credit Union (KY) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%--CommonWEALTH Checking Account
0.10%$5k-Business Commonwealth Account

Commonwealth Credit Union (KY) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.25%$1k-6 Month CD
5.00%$5-24 Month Wealth Development Certificate
5.00%$5-48 Month Wealth Development Certificate
3.75%$1k-60 Month CD
3.50%$1k-48 Month CD
3.35%$1k-36 Month CD
3.10%$1k-24 Month CD
3.00%$1k-18 Month CD
2.85%$1k-12 Month CD

Commonwealth Credit Union (KY) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.25%$1k-6 Month IRA
3.75%$1k-60 Month IRA
3.50%$1k-48 Month IRA
3.35%$1k-36 Month IRA
3.10%$1k-24 Month IRA
3.00%$1k-18 Month IRA
2.85%$1k-12 Month IRA
Locations

Availability



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