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Cove Federal Credit Union

Overview / Commentary

Cove Federal Credit Union is headquartered in EDGEWOOD and is the 20th largest credit union in the state of Kentucky. It is also the 2,089th largest credit union in the nation. It was established in 1970 and as of March of 2019, it had grown to 18 employees and 7,421 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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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

NCUA #19879
Year Chartered1970
Primary Regulator
Profit Margin
Return on Assets - YTD1.74%
Return on Equity - YTD11.15%
Annual Interest Income$671.00K
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$63.7MM$64.8MM
LoansQ1 2019vs Q1 2018$39.4MM$45.0MM
DepositsQ1 2019vs Q1 2018$53.2MM$54.9MM
Equity CapitalQ1 2019vs Q1 2018$9.8MM$9.1MM
Loan Loss AllowanceQ1 2019vs Q1 2018$635.00K$676.00K
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$222.00K$153.00K
Real Estate OwnedQ1 2019vs Q1 2018$20.00K$0
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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

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

0.10%$1k-Interest Plus Checking Account

Cove Federal Credit Union CD Rates

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

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

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

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