Kentucky Employees Credit Union

Overview / Commentary

502-564-5597

100 Moore Dr
Frankfort, KY 40601-8295

Kentucky Employees Credit Union is headquartered in Frankfort and is the 18^th largest credit union in the state of Kentucky. It is also the 1,849^th largest credit union in the nation. It was established in 1938 and as of June of 2019, it had grown to 26 employees and 10,209 members at 2 locations. Kentucky Employees Credit Union's CD rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Kentucky Employees Credit Union is open to individuals who live, work, or worship in any of the following Kentucky counties: Anderson, Bourbon, Boyle, Bullitt, Clark, Estill, Fayette, Franklin, Garrard, Harrison, Henry, Jefferson, Jessamine, Lincoln, Madison, Mercer, Nicholas, Oldham, Powell, Scott, Shelby, Spencer, Trimble and Woodford. Public sector employees (local, county, state, federal), military personnel, and Kentucky public school employees also qualify for membership. Students and employees of 21 Kentucky colleges are also welcome to apply.
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18-Month CD, 3.00% APY - 2/20/2019

Minimum deposit of $500. Small credit union but the field of membership includes residents of 24 Kentucky counties and all public sector employees in Kentucky.

Reviews (1)

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Treated Like a Human Being - Great Service

Posted by: latoyaroy89 | Jun 19, 2017

I was fed up with large banks and I decided to try a credit union. I was able to join the state's employee credit union due to me being a state worker. Moving my account was absolutely painless and the clerk walked me through everything I needed to do to ensure my account wouldn't just automatically re-open; this had been a problem when switching from Bank of America to Chase. The interest rates were much better than traditional banks as well. I'm getting 25% better return on my investments (CDs) from the credit union, as well as, getting much better interest on my savings account; although it's not like it used to be in the 90's (4%!). I was interested in opening up an IRA at the bequest of my wife and when speaking with their investment specialist really help. She walked me through my options and made sure I knew the pros and cons of each. She also made it easy to directly deduct from my account so I didn't have to worry about adding money to it on my own. It has been an eye opening experience and one I wish I made earlier on in my life. I had grown to hate banking and banks in general, but the KECU restored my faith in banking.

Comment

Health

B+

Data as of Q2 2019

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. Kentucky Employees Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #	62431
Year Chartered	1938
Employees	26
Primary Regulator

Profit Margin
Return on Assets - YTD	0.43%
Return on Equity - YTD	4.19%
Annual Interest Income	$1.9MM

Assets and Liabilities
Assets	Q2 2019vs Q2 2018	$79.8MM$77.8MM
Loans	Q2 2019vs Q2 2018	$57.9MM$53.3MM
Deposits	Q2 2019vs Q2 2018	$68.9MM$66.4MM
Equity Capital	Q2 2019vs Q2 2018	$8.3MM$8.1MM
Loan Loss Allowance	Q2 2019vs Q2 2018	$464.00K$409.00K
Unbacked Noncurrent Loans	Q2 2019vs Q2 2018	$621.00K$664.00K
Real Estate Owned	Q2 2019vs Q2 2018	$0$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.