University Of Kentucky Federal Credit Union is headquartered in Lexington and is the 5th largest credit union in the state of Kentucky. It is also the 350th largest credit union in the nation. It was established in 1937 and as of March of 2019, it had grown to 180 employees and 95,465 members at 5 locations. University Of Kentucky Federal Credit Union's CD rates are 3X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in University Of Kentucky Federal Credit Union is open to students and faculty of the University of Kentucky, members of select alumni associations, and other select groups. Membership is also extended to individuals who live, work, worship, or attend school in portions of the greater Lexington area.
See current membership details
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University of Kentucky Federal Credit Union
I have banked with the University of Kentucky Federal Credit Union since 2001. They have been helpful when I was struggling financially and have been even more helpful when I had the propensity to keep more money in the account that I currently have registered with them. All locations are friendly, willing to help and they go above and beyond your average bank. They were also very helpful and diligent in helping a potential write off that existed on my account as a 19 year old college student and quickly updated my credit report accurately. I could not ask for a better bank than UKFCU.
Review for UKFCU
I've banked with UKFCU for ten years now, and I've never had a negative experience. UKFCU offers membership to UK employees (and possibly students?) and those living in a certain area of town, so it's relatively easy to qualify for membership. Compared to the larger national banks, their rates and fees are fair, and their customer service is much better than average. There are several branches around town so it's convenient to visit when need-be, though I've found that their website and mobile app are all comprehensive for my banking needs. I'm able to transfer money to my various checking/savings accounts, pay loans, and deposit checks. To be honest I haven't visited an actual bank branch in several months, which is unfortunate because their tellers and employees are always pleasant and helpful. I've even used their notary services which is another service they offer for free to their members. I've also met with various consultants on staff regarding retirement accounts, and I've always come away feeling like the person I met with was there to educate me and had my best interests in mind. I have absolutely no complaints.
Quality Service
My experiences with University of Kentucky Federal Credit Union were very good throughout my times as a student at UK. I was able to have a no minimum balance student checking account which was extremely useful. As a student I often had under twenty dollars in my bank account. Many banks require a minimum balance but I could have any balance as long as it wasnt overdrawn without being assessed fees. I even overdrew a few times and was granted a grace period to get my balance up above 0 and STILL was not charged a fee. The customer service was great and I had nothing but positive experiences with the tellers and they were all very friendly and helpful. I would recommend this bank to anybody looking to bank with a credible, local bank.
UK Credit Union
I have been very pleased with my banking experience here. I always have a positive experience when dealing with employees. They have good rates and managing my checking and savings account are very easy. They also have a really helpful online site where I can manage my accounts with ease. There is a restriction on how many online transfers you can do per month though, so as long as that is kept in mind, it is a very useful tool. The only thing that would improve this bank would be more locations so it would be easier to access when you did need to go to the bank and it wouldn't be so out of the way.
Average bank, nothing stands out. Go elsewhere for better service.
I banked with UK Credit Union because I was a student at the University of Kentucky as well as a part-time employee; it made sense to use the bank since I was there so often anyway. The bank was average on fees and operated like any other bank. Nothing too outstanding. I did feel that their customer service was lacking. I don't know if they had students working as tellers or what, but the lines took forever and online banking was limited.
Okay, but doesn't offer much the regular banks don't already have
I used to bank with the University of Kentucky Federal Credit Union when I was a student there. It was convenient since I was on campus so much. As far as banking goes, the place was pretty normal. No real surprises and they didn't screw anything up. My main complaint is that they would seem to hire inexperienced tellers. I'm not sure if they were college students or what, but the lines moved glacially slow because of them. They also hit me with a bunch of overdraft fees once, causing me to abandon that account. It's been a while, but I don't really feel like it was entirely my fault. It may have been due to them holding a deposit, but I'm not sure. Either way it left a bad taste in my mouth and I won't be a customer of their's again.
Go elsewhere!
I have had multiple problems with this credit union. I like the app and website. They are both easy to navigate. One of the big negatives that I had was that you could not deposit cash at the ATM. This made it hard when I had bills coming out and I had to actually go to the bank to deposit cash. The other thing is that they don't stand behind their customers. I had a charge on my debit card that was not authorized. It took me a month to see my money and then they reversed the credit and overdrew my account. Then they credited my account again but would not do anything about the overdraft charges caused by them. They did this multiple times. I think they are an okay credit union but I would think twice about using them again. Setting up an account was relatively simple and we got the account for free because my husband worked for the university. I'm not sure it would be worth it if we had to pay for the account.
UKFCU Car Loans
I've had (2) auto loans, (1) for 2 yrs and (1) for a little over a year. I've never had a gap in insurance coverage, but they somehow still apply force coverage on each loan every 6-8 months. This is a nightmare; they use an outside vendor, and it's a month or longer process having it removed each time. My 2014 vehicle increases from $12,000-$13,000, and the 2015 between $9,000-$10,000 each time. It's a process that has very little, if any oversight by UKFCU.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 24165 |
| Year Chartered | 1937 |
| Employees | 180 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.32% |
| Return on Equity - YTD | 11.67% |
| Annual Interest Income | $11.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $909.9MM$784.9MM |
| Loans | Q1 2019vs Q1 2018 | $700.3MM$628.4MM |
| Deposits | Q1 2019vs Q1 2018 | $779.0MM$681.8MM |
| Equity Capital | Q1 2019vs Q1 2018 | $100.1MM$87.9MM |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $8.3MM$8.2MM |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $3.1MM$3.6MM |
| Real Estate Owned | Q1 2019vs Q1 2018 | $18.00K$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
University Of Kentucky Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.15% | $100 | - | Senior Share | |
| 0.15% | - | - | IRA Account | |
| 0.10% | $100 | - | Prime Share | |
| 0.10% | - | - | Club Accounts |
University Of Kentucky Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.10%* | $50k* | - | Money Market Account | ||
| OTHER TIERS: 0.80% → $1k - $10k | 0.90% → $10k - $25k | 1.00% → $25k - $50k | |||||
University Of Kentucky Federal Credit Union CD Rates
University Of Kentucky Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.25% | $1k | - | 5 Year IRA | |
| 3.00% | $1k | - | 4 Year IRA | |
| 2.80% | $1k | - | 3 Year IRA | |
| 2.65% | $1k | - | 2 Year IRA | |
| 2.45% | $1k | - | 18 Month IRA | |
| 2.40% | $1k | - | 1 Year IRA |
| University Of Kentucky Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 1080 Export St | Lexington, KY 40504-2760 |
| Branch Office | 370 Meijer Way | Lexington, KY 40503 |
| Branch Office | 2557 Sir Barton Way | Lexington, KY 40509 |
| Branch Office | 940 Midnight Pass | Lexington, KY 40513 |
| Branch Office | 106 Avenue of Champions, Student Center Room 245 | Lexington, KY 40506 |