Semc Federal Credit Union

Rated star_ratedstar_ratedstar_ratedstar_normalstar_normal by Credit Guide
Review based on 12 criteria Rating: 3 out of 5

577 Dudley Road, Edgewood, KY 41017-3248

Website

(859) 292-9000

Data Source: NCUA, December 31, 2016


Cove Federal Credit Union was founded in 1970. Headquartered in Edgewood, Kentucky, Cove Federal Credit Union is a federally chartered and federally insured credit union, operating within the regulation of the National Credit Union Association (NCUA) and being insured through the National Credit Union Share Insurance Fund (NCUSIF). Cove Federal Credit Union is also a member of the Federal Home Loan Bank (FHLB), which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of December 31, 2016, Cove Federal Credit Union services 8,031 members through its 21 full-time employees. It has $58,698,263 of total assets and $8,387,491 of net worth. Based on its asset size and net worth ratio, Cove Federal Credit Union is classified as a Well Capitalized medium credit union.

Cove Federal Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Cove Federal Credit Union also provides an array of services to its members and local communities. To find out more, please go to the Services page.

The following two tables list the deplitory and loan interest rates of Cove Federal Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Kentucky and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Kentucky
Median of USA
Checking
0.1000
0.0000
0.0000
Savings
0.1500
0.1200
0.1200
Money Market
0.3100
0.3000
0.2500
Certificate Deplit
2.0800
0.6000
0.5800
IRA
2.3200
0.6000
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Kentucky
National Median Rates
Credit Cards
9.3000
9.9000
9.9900
Unsecured Line of Credits
12.0500
10.4000
10.9500
Short-term Small Amount
n/a
22.2050
25.0000
Student Loans
9.0000
6.0000
6.0200
New Car Loans
5.5900
3.0000
3.3300
Used Car Loans
10.3400
4.7500
4.5000
1st Mortgage Real Estates
3.5800
4.2500
4.2500
Other Real Estates
4.7100
4.5000
4.7000

Cove Federal Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, ATMs, and mobile devices. The table below lists the electronic banking services prlided by Cove Federal Credit Union.

Electronic Banking Service Offerings

Membership Application
Yes
No
Share Account Transfers
Yes
New Loan Application
Yes
Share Draft Orders
Yes
No
New Share Account
No
Bill Payment
Yes
No
e-Statements
Yes
Loan Payments
Yes
No
Account Balance Inquiry
Yes
Yes
Yes
View Account History
Yes
No

As a community financial institution, Cove Federal Credit Union actively involves in local communities by prliding services such as financial education, financial literacy workshops, and first tim home buyer programs.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
No
Free Bill Pay
Yes
Financial Education
Yes
In-School Branches
No
Free Tax Preparation Service
No
Financial Literacy Workshops
Yes
Student Scholarships
Yes
Insurance/Investment Sales
Yes
First Time Homebuyer Program
No
Semc Federal Credit Union
Main Office

577 Dudley Pike
Edgewood, KY 41017
Phone:859-292-9000

(859) 426-5610

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  1. Credit Guide Staff
    Credit Guide Staff

    Last Updated on May 30, 2017

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