2. Cove Federal Credit Union

Cove Federal Credit Union


Overview / Commentary
covefcu.com
859-292-9000
577 DUDLEY PIKE
EDGEWOOD, KY 41017

Cove Federal Credit Union is headquartered in EDGEWOOD and is the 19th largest credit union in the state of Kentucky. It is also the 2,101st largest credit union in the nation. It was established in 1970 and as of December of 2018, it had grown to 18 employees and 7,506 members at 1 location. Cove Federal Credit Union's CD rates are 33% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Cove Federal Credit Union is open to the following: (1) employees and physicians of The Christ Hospital; (2) employees of the Diocese of Convington and its affiliated schools; (3) employees of St. Elizabeth's Physicans groups; (4) employees of Beckfield College, Grant Center and over 25 other select employer groups.
See current membership details

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Health
B+

Data as of Q4 2018

Learn why bank health matters
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Cove Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #19879
Year Chartered1970
Employees18
Primary Regulator
Profit Margin
Return on Assets - YTD0.84%
Return on Equity - YTD5.55%
Annual Interest Income$2.8MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$61.7MM$62.1MM
LoansQ4 2018vs Q4 2017$41.4MM$47.6MM
DepositsQ4 2018vs Q4 2017$51.8MM$52.5MM
Equity CapitalQ4 2018vs Q4 2017$9.5MM$9.0MM
Loan Loss AllowanceQ4 2018vs Q4 2017$721.00K$673.00K
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$321.00K$198.00K
Real Estate OwnedQ4 2018vs Q4 2017$20.00K$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Cove Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$75k*-Savings Plus Account
OTHER TIERS: 0.25% → $2k - $20k | 0.30% → $20k - $75k
0.35%*$75k*-IRA Savings Plus Account
OTHER TIERS: 0.25% → $2k - $20k | 0.30% → $20k - $75k
0.20%--Jungle Saver-Super Teen Account
0.20%--IRA Savings
0.15%--Regular Saving Account
0.15%--Special Savings Account
0.15%--Vacation Club
0.15%--Christmas Club

Cove Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$1k-Interest Plus Checking Account

Cove Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$1k-60 Month CD
2.25%$1k-48 Month CD
2.00%$1k-30 Month CD
1.75%$1k-36 Month CD
1.50%$1k-24 Month CD
1.50%$1k-3 Month CD
1.40%$1k-18 Month CD
1.20%$1k-12 Month CD
1.00%$1k-6 Month CD

Cove Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$1k-60 Month IRA
2.25%$1k-48 Month IRA
2.00%$1k-30 Month IRA
1.75%$1k-36 Month IRA
1.50%$1k-24 Month IRA
1.50%$1k-3 Month IRA
1.40%$1k-18 Month IRA
1.20%$1k-12 Month IRA
1.00%$1k-6 Month IRA
Locations


Cove Federal Credit Union Locations
Branch Office577 DUDLEY PIKEEDGEWOOD, KY 41017

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