About Us

Old Kentucky Home Federal Credit Union (OKHFCU) was founded in 1967 by BFGoodrich Employees and was originally named Chemco Federal Credit Union. Chemo FCU merged with ASRC Employees Credit Union in 2005. Also in 2005, the building on Templin Ave. in Bardstown KY was purchased and that is where the credit union is located today, as OKHFCU.

FAQ

What’s a Credit Union?

A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit. 

Who owns a credit union? 

Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors. 

How did credit unions start?

The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary's Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member. 

What is the purpose of a credit union?

The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

Are savings deposits insured?

Yes. All savings accounts are insured up to $100,000 by the NCUA, the National Credit Union Administration, an agency of the federal government. 

Who can join a credit union?

A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group. 

Who Can Join?

Becoming a member of the Old Kentucky Home Credit Union is a great opportunity to meet your financial needs. To become a member you must open a Share Savings account. This is your "Share" in the Credit Union. With a deposit of as little as $5.00 in this account your eligible for the many benefits of the Credit Union membership. You can remain a member for life regardless of whether you move, change jobs, or retire. Refer to our link to the application to apply for membership.   

Membership

You are eligible for membership if you work for one of the following companies. Once you become a member, membership is extended to your immediate family members, defined as related persons by blood or marriage, such as grandparents, parents, spouse, significant-other, siblings, child, grandchild, stepchildren, step-parents and in-laws. 

Eligible Employee Groups

LOUISVILLE

  • American Synthetic Rubber Company

  • Able Construction Company

  • Lubrizol

  • PolyOne Company

  • Recast Energy

  • Zeon Chemicals

BARDSTOWN

  • Bardstown Independent School Systems

  • Best Western Motel

  • City of Bardstown

  • Clark Distributing Company, Inc.

  • Clark Mechanical, LLC.

  • FET Engineering

  • Flaget Memorial Hospital

  • Four Roses Distillery, LLC.

  • Heaven Hill Distilleries, Inc.

  • IMI

  • Inoac Packaging,Inc.

  • Intertec Systems

  • Johnan America, Inc. 

  • Life Care Center of Bardstown

  • Mitsuba Bardstown, Inc.

  • Nelson County Employees

  • Nelson County EMS

  • Nelson County Jail

  • Nelson County Landfill

  • Nelson County School System

  • ORBIS Corporation

  • Polyair Packaging

  • Sazerac/Tom Moore Distellery

  • Tower Automotive

  • Trim Masters, Inc.