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Our Mission & History

OUR MISSION

Greater Kentucky Credit Union's mission is to provide the best financial services possible to our members while maintaining the financial soundness of the credit union. We are a not-for-profit, cooperative financial institution that provides services to the individuals who join it - its members. 

At Greater Kentucky Credit Union, the members are the owners. Members who maintain a Savings Account with a minimum balance of $10 own a share of the credit union. This share gives them the right to a full range of financial services and a vote in electing the Board of Directors who set the overall direction of the credit union.

Credit unions operate by providing Loans to members while paying dividends on deposits. Typically these loans are available at lower interest rates than those offered by other financial institutions. The interest received from loans is used to cover the credit union's operating expenses and pay dividends to the owners.

About US

Board of Directors
Supervisory Committee
History of Greater Kentucky Credit Union
  • Board of Directors

    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 Supervisory Committee members are appointed by the Board of Directors. The Board of Directors serves on a volunteer basis and may hire a management team to run the credit union. Board members also establishes long-range planning; policy review; budget decisions and consideration of new programs, rates and facilities. The Supervisory Committee monitors the Credit Union’s operations and procedures in an oversight capacity on behalf of the members. Committee members are responsible for initiating an annual audit of the Credit Union records, conducting member account verifications and providing an ongoing review of closed accounts which ensures that internal controls are maintained to protect the credit union and its members. 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.

    We truly have an outstanding Board of Directors and Supervisory Committee! Through their volunteer efforts, they have played an important part in supporting the continued growth and financial security of Greater Kentucky Credit Union. We are grateful for the dedication of these members who give voluntarily of their time and skill.

    Board of Directors

    • Kenneth Hadley, Chair
    • Gary Walker, Vice Chair
    • Christina Stewart, Secretary
    • Karl Stoerzer, Treasurer
    • Bill Spears, Member


     

    Becoming A Volunteer

    As a member of Greater Kentucky Credit Union, you are eligible to serve on our volunteer Board of Directors or Supervisory Committee. If you’d like to be more involved with your credit union and have a strong desire to help Greater Kentucky Credit Union continue to succeed and grow, we encourage you to apply for a position on the Board of Directors or Supervisory Committee. Volunteering to serve on your credit union can be an extremely rewarding experience. You may find that representing your fellow credit union members not only benefits them but will provide you with valuable knowledge for years to come.

    Click Here, if you are interested in being considered for a position.

  • Supervisory Committee

    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 Supervisory Committee members are appointed by the Board of Directors. The Board of Directors serves on a volunteer basis and may hire a management team to run the credit union. Board members also establishes long-range planning; policy review; budget decisions and consideration of new programs, rates and facilities. The Supervisory Committee monitors the Credit Union’s operations and procedures in an oversight capacity on behalf of the members. Committee members are responsible for initiating an annual audit of the Credit Union records, conducting member account verifications and providing an ongoing review of closed accounts which ensures that internal controls are maintained to protect the credit union and its members. 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.

    We truly have an outstanding Board of Directors and Supervisory Committee! Through their volunteer efforts, they have played an important part in supporting the continued growth and financial security of Greater Kentucky Credit Union. We are grateful for the dedication of these members who give voluntarily of their time and skill.

    Supervisory Committee

    • Joyce Winstead, Chair
    • Karen Settles, Member
    • Dan Settles, Member



     

    Becoming A Volunteer

    As a member of Greater Kentucky Credit Union, you are eligible to serve on our volunteer Board of Directors or Supervisory Committee. If you’d like to be more involved with your credit union and have a strong desire to help Greater Kentucky Credit Union continue to succeed and grow, we encourage you to apply for a position on the Board of Directors or Supervisory Committee. Volunteering to serve on your credit union can be an extremely rewarding experience. You may find that representing your fellow credit union members not only benefits them but will provide you with valuable knowledge for years to come.

    Click Here, if you are interested in being considered for a position.

  • 1953: Nine employees of the Lexington Telephone Company founded the Lexington Telco Credit Union to serve employees in the Lexington, Kentucky area. They each put up deposits of $10 each. The credit union was operated part-time in a small office located at the phone company. Account balances were limited to $1,000. Initially, when someone made a withdrawal, they were given their money in check form which then had to be cashed elsewhere.
    1954:  The first dividend was paid at a rate of 4%.
    1957:  Southern Continental Telephone employees were invited to join the credit union.
    1962:  Unsecured loan limit increased to $750, but only for employees with over 7 years of service on the job.
    1967:  The credit union moved from the General Office to South Reporting Center.
    1971:  Assets reached $1,000,000.
    1974: Name changed to GTKY Employees Credit Union, Inc. since the phone company was then called General Telephone of Kentucky.
    1982:  Office moved to Southland Drive.
    1983:  Checking accounts were first offered. Cash withdrawals became the norm.
    1984:  The credit union expanded its field of membership to include groups outside of the phone company.
    1989:  The credit union moved into its current office on Red Mile Road. Membership exceeded 4,000.
    1990: Assets reached $15,000,000. Mortgage lending and 24-hour account access via telephone (CALL-24) were offered.
    1993:  Membership reached 5,000. Assets were over $22,000,000. Optional Financial Services, Inc., a wholly-owned subsidiary of the credit union, was formed.
    1994:  'Employees' was dropped from the credit union name.
    1996: The Member Service Center on Regency Road, through a partnership with Kentucky Telco FCU, was opened in April. Kemba Credit Union joined the agreement by the end of the year.
    1997:  Assets reached $30,000,000. Membership was almost 6,000.
    1998:  VAMC Employees Credit Union merged into GTKY. Membership exceeded 7,000.
    1999: Membership grew to more than 8,000.
    2000: Assets increased to more than $40,000,000. Versailles branch opened for business in March.
    2001:  Dixie Cup Credit Union merged into GTKY. The main office building expansion on Red Mile Road was completed in August.
    2002: Jockey International Credit Union merged into GTKY. Assets reached $50,000,000 and membership increased to more than 9,000.
    2003:  Launched our website. 50 years of service to the members was celebrated by giving away a new car, a home entertainment system, and a cruise.
    2004:  The ability to apply for loans online was added and the website was revamped to further enhance services to the members.
    2005:  Assets increased to more than $60,000,000.
    2006: Added CU 24/7, giving members access to their accounts online.
    2007:  Changed name to Greater Kentucky Credit Union. Added electronic Bill Pay.
    2009:  Opened our new Versailles Branch Location.
    2013: Launched new Website design, Mobile Banking and POPmoney.

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