Special Meeting
Occurred Tuesday, November 19, 2024 at 6:00 PM EST
The sole purpose of the meeting was to vote on a proposed change from a Kentucky state-chartered credit union to a federally chartered credit union. This change will allow us to better serve our members and communities and is a significant step in our growth strategy.
Voting Results
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We deeply appreciate our members for believing in our mission and voting.
Thank you for your continued support and being part of our Commonwealth Credit Union family!
Expanding our Reach
THE Benefits
Converting to a federal charter will allow us to:
- Better the lives of more people by broadening who we serve and reengaging our core field of membership (KY state employees and KY educators)
- Enhance operational efficiencies that will improve the member experience
- Increase opportunities for growth that supports long-term sustainability for Commonwealth Credit Union, its current members, and generations to come
Expanded Eligibility
Eligible members will include:
- Employees of the state of Kentucky
- Employees of Zoeller
- Employees of Baptist Health Lexington
- Members and/or employees of the following associations:
- Kentucky Education Association
- Kentucky Retired Teachers Association
- Teachers’ Retirement System of Kentucky
- Kentucky Education Association
- And, immediate family members (spouse, child, sibling, parent, grandparent, grandchild, stepparents, stepchildren, step siblings, and adoptive relationships) of current members
Plus - eligibility is more accessible than ever by joining one of the following associations:
- American Consumer Council
- Financial Fitness Association
- Community Impact Fund
Why This Change?
Our vision for growth is inspired by engagement, empowerment, and extraordinary service. While our credit union is strong and performing well, growth is critical for long-term sustainability. Converting to a federally chartered credit union will allow us to serve more members, regardless of where they live. This change will make it easier and more accessible for people in our communities to benefit from being a member.
How will this affect you?
First things first: your interactions and overall experience as a member will stay the same. For current members, including business members, it remains “business as usual.” This change won’t impact your access to or experience with the services you know and love. In fact, it will improve what we offer, ensuring that we stay competitive with low loan and mortgage rates, higher savings rates, and innovative products and services.