Special Meeting
Tuesday, November 19th at 6:00 PM EST
ONLINE MEETING | REGISTRATION REQUIRED
Registration and voting
Commonwealth Credit Union is excited to announce a Special Meeting of Members on Tuesday, November 19th, 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.
Step 1: REGISTER (REQUIRED)
How to Register:
Deadline to Register:
November 15, 2024 at 5:00 PM EST.
Step 2: RECEIVE & SAVE YOUR MEETING LINK
After you register, you’ll receive a confirmation email followed by an email with your meeting link. Both will come from Allison Harp via messenger@webex.com. Use the meeting link to join at 6:00 PM EST on Tuesday, November 19, 2024.
Step 3: PREPARE TO VOTE
Personalized Link:
You will receive a separate voting email from CWCU@intelliscanvotes.com with a personalized link to cast your individual vote during the voting period.
Voting Period:
Use your personalized link to vote between 6:00 PM EST and 6:30 PM EST on November 19, 2024.
Who can vote?
Only primary account holders 18 and older can vote.
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.
Questions? We have answers.
What is the Special Meeting for?
We are voting to convert from a state charter to a federal charter. Since 1951, the credit union has had a state charter. Simply put, converting would expand who can join Commonwealth Credit Union.
How will this impact current members?
Your interactions, accounts, and overall member experience will remain unaffected. It’s “business as usual” for current members, including business members.
What benefits will this bring for the future?
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
Will the guidelines for eligibility be updated?
Yes, the proposed charter change includes three eligibility options:
- Immediate family members of current members.
- Employees of approved employers and associations.
- Individuals who join one of our approved associations.
What family members are eligible?
Immediate family members of current members eligible to join. Immediate family members include spouses, children, siblings, parents, grandparents, grandchildren, stepparents, stepchildren, step siblings, and adoptive relationships.
What employers and associations qualify for membership?
- American Consumer Council
- Baptist Health Lexington
- Community Impact Fund
- Financial Fitness Association
- Kentucky Education Association
- Kentucky Retired Teachers Association
- State of Kentucky
- Teachers’ Retirement System of Kentucky
- Zoeller Pump Company
What other ways will people be able to join?
People interested in joining will have the option to join one of our approved associations, at no cost to them, making them eligible. These associations were chosen to represent our collective passions around education, consumer rights, making an impact in your community, and financial wellness. At account opening, simply choose the association, and we'll do all the rest!
The approved associations are:
- American Consumer Council
- The Community Impact Fund
- Financial Fitness Association
- Kentucky Education Association
A MESSAGE FROM OUR CHAIRMAN OF THE BOARD
A MESSAGE FROM OUR PRESIDENT/CEO
