Move Kentucky Forward
Kentucky's credit unions are local, community-based financial institutions that play a vital role in our state's economy. Credit unions are not-for-profit and were created to serve members throughout Kentucky. That’s good news for our state’s economy as earnings are returned to members through services like free ATMs, better loan rates, and lower fees. Ultimately, that means more money stays right here in Kentucky to help move our economy forward.
Moving Our Economy Forward THROUGH JOBS
Credit unions employ nearly 2,300 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.
Moving Our Economy Forward BY PUTTING MORE MONEY INTO TAX COFFERS
Kentucky credit unions and their members make substantial contributions to tax revenues. In the most recent tax year, Kentucky credit unions generated over $45 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 $23 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.
Moving Our Economy Forward BY KEEPING MORE MONEY RIGHT HERE AT HOME
Kentucky’s not-for-profit, consumer-owned credit unions delivered $78 million in benefits in 2018. Not surprisingly, in 2018, memberships in the state’s credit unions increased by over 10 times the rate of Kentucky’s population growth. More people are choosing credit unions every day.
Moving Our Economy Forward THROUGH EDUCATION AND FINANCIAL LITERACY
Kentucky credit unions are working with the State Treasurer to fund an educational course for high schools to teach students about money, personal financial management, and other aspects of finances.
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