Federal credit unions in Kentucky provide banking services such as loans to its membership. Kentucky federal credit union members must meet a set of well-defined criteria such as membership in a non-profit group or residency within a geographical area.

Government chartered credit unions in Kentucky also may serve specific employee groups, known as Select Employee Groups, such as doctors or employees of a specific company. These credit unions may be able to switch to a community charter, which allows them to serve anyone who lives, works, worships or attends school within a defined area.

Kentucky federal credit unions appear to be similar to banks but their tax exempt status mandates three important differences:

1. Federally chartered credit unions in Kentucky must be a non-profit, financial cooperative its members own.

2. Member must elect the board of directors for a federal credit union who must serve as unpaid volunteers.

3. A KY federal credit union has a social mission that includes service to members of modest means. A credit union has restrictions on the services and products that it provides and must place restrictions on its membership.

Action Steps
The best contacts and resources to help you get it done

Locate specific government credit unions in Kentucky by name

You can easily locate a Kentucky federal credit union if you have some basic information about it such as its name or the location of one of its branches. A credit union's name will normally give you an idea of the basis of its membership, although the requirements for membership are frequently broader than this.

I recommend: The Community Banker, powered by Yennik, provides an alphabetical list of websites for credit unions in Kentucky. Credit Unions Online displays the credit unions in its network that are located in Kentucky alphabetically by name.

Find Kentucky federally chartered credit unions by location

Resources are available to locate all of the Kentucky federal credit unions based in your area, which you may wish to do because residency is a common membership requirement for many credit unions.

I recommend: USA Credit Unions shows all of its credit unions in Kentucky on a single page and also has a credit union locator by name and zip code. Credit Union Access provides, by city, all of the registered federally chartered credit unions in Kentucky.

Select one of the local Kentucky government credit unions to join

Examine the membership requirements of a particular KY federal credit union and the services that it provides to know if you are eligible to join and if it will provide the services you need.

I recommend: Metro Employees Credit Union accepts Lexington and Fayette County employees and their family members. Members Heritage Federal Credit Union restricts membership to residents of zip codes in and around Lexington in addition to employees of the credit union’s Select Employee Group.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Federal credit unions in Kentucky frequently allow a broader membership base than their name implies. Smaller credit unions may merge into a single credit union with a disparate set of membership qualifications. Additionally, an individual may usually remain a member of a credit union even after he no longer meets the membership requirements, as when a member moves or changes jobs.