Move Kentucky Forward
How Kentucky Credit Unions Help Move Kentucky Forward
Credit unions are not-for-profit financial cooperatives owned by and operated for the benefit of members they serve. Credit unions provide resources to their members and families to help them obtain financial well-being. This includes improving financial education, food security, housing security, and more. Learn how Kentucky credit unions are working to achieve this mission from Kentucky Credit Union League President Jim Kasch.
Number of Credit Unions in KY
Number of Members
Benefits Delivered by Kentucky Credit Unions per Member Household
Total Benefits Delivered by Kentucky Credit Unions
In Assets
Moving KY Communities Forward:
Designing special programs to help you when you need it most.
Member Assistance & Benevolence Programs
Members Choice Credit Union
The Challenge
Life brings both opportunities and challenges. Members may face seasonal financial strain, unexpected hardships, or difficult circumstances that require short-term flexibility or direct assistance.
The Response
Members Choice Credit Union is guided by the philosophy of “people helping people.” As a member-owned, not-for-profit institution, the credit union works to provide a financial home where individuals and families can find understanding, support, and solutions tailored to their needs.
During the holiday season, the credit union offers a Skip-A-Pay program to give members additional breathing room when expenses are high. Members also benefit from competitive club account rates and low credit card rates designed to meet the needs of rural communities.
One of the credit union’s most meaningful initiatives is the Members Choice Benevolence Fund. While not publicly promoted, the fund provides direct assistance to members facing financial hardship. Through this program, grants are awarded to individuals and families identified as being in need. To date, the Benevolence Committee has granted a total of $9,900.
The Impact
Through flexible products and direct assistance, Members Choice Credit Union provides tangible financial relief while reinforcing its commitment to putting people before profit and supporting its community.
Disaster Relief & Ongoing Member Support
University of Kentucky Federal Credit Union
The Challenge
When devastating tornadoes struck Caldwell, Laurel, Pulaski, Russell, Trigg, and Union Counties earlier this year, many families faced unexpected financial strain while working to rebuild their homes and communities. Beyond natural disasters, members also encounter everyday financial challenges that require guidance and flexibility.
The Response
University of Kentucky Federal Credit Union responded quickly to the tornadoes with its Member Relief Loan program. Eligible members in affected areas could borrow up to $5,000 with no payments and 0.00% APR for the first six months, followed by a low 6.99% APR for the remaining term. The goal was to provide immediate breathing room so families could focus on recovery instead of financial stress.
That same spirit of support extends year-round. Through a partnership with the nonprofit agency Trinity Debt Management, UKFCU connects members with professional counseling and debt management services. Flexible options such as skip-a-pay allow members to defer one eligible loan payment each year when unexpected expenses arise.
Preparation is also a priority. All members age 18 and older receive complimentary TruStage Accidental Death and Dismemberment Insurance with guaranteed coverage and no medical questions required. Members have access to preferred rates on life, auto, and home insurance products, along with tax filing discounts through Love My Credit Union Rewards.
Education remains central to the credit union’s mission. UKFCU hosts in-person seminars throughout the year on topics such as fraud prevention, economic outlook, and retirement planning. Through its Preferred Partner program, the credit union provides Lunch and Learn sessions to more than 100 community organizations, educational institutions, and local businesses. Members and community visitors can also access the Mindful Money Center, which offers blogs and podcasts on cybersecurity, budgeting, home loans, and investing. In partnership with Banzai, the credit union provides access to Banzai Plus courses to help individuals build lifelong money management skills.
The Impact
Through disaster relief, financial counseling, protective services, flexible solutions, and ongoing education, University of Kentucky Federal Credit Union demonstrates how credit unions support communities by standing ready to help when it matters most.
MORE IMPACT STORIES >>
Moving Our Economy Forward...
Credit unions employ over 2,700 people in Kentucky. Employees of credit unions help stimulate the local economy, pay state and local taxes, and contribute to the overall well-being of the state’s economy.
Kentucky credit unions and their members make substantial contributions to tax revenues. In the most recent tax year, Kentucky credit unions generated over $160 million in tax revenue through their economic activities such as contracting employees, purchasing, and credit union employees spending in the local economy.
On the local level, over $60 million was generated through their economic activity—all of which helps fund schools, roads, and other vital parts of our state’s economy and infrastructure.
Kentucky’s not-for-profit, member-owned credit unions delivered $333 billion in direct financial benefits to consumers in 2025. More Kentuckians than ever are choosing credit unions, with membership rising from 980,000 in 2019 to over 1 million today.
Kentucky credit unions partnered with former State Treasurer Allison Ball to launch a statewide financial education initiative that brought personal finance curriculum into high schools across the Commonwealth. That commitment continues today through MoneyWise, our financial literacy program that equips students and families with practical money management skills. By investing in financial education, Kentucky credit unions are helping build stronger households and a stronger Kentucky economy.
