The volunteer board of directors of Fort Knox Federal Credit Union has adopted a new brand and a new name for the state’s largest member-owned financial cooperative. The new name, Abound Credit Union, is reflective of the diverse membership the credit union serves and took effect on February 18, 2020.
Seventy years ago, ten people living in Hardin County believed they could make a difference in the lives of their fellow Kentuckians living near Fort Knox. They took a risk to make their idea a reality. Investing $100 each, with no opportunity to profit themselves, they created a financial cooperative that would put helping people first. Since that time, the Credit Union has grown to serve more than 105,000 community and military members who have benefited from excellent rates and superior financial services.
“We conducted extensive research with our current members, and those in our community who have not yet joined the credit union, to understand their perceptions of our brand. This research indicates that many residents in our service area did not recognize they could become members of any credit union,” commented Ray Springsteen, President/CEO of Abound Credit Union. “With 80% of Kentuckians not utilizing a credit union today and the state ranked 45th in financial literacy, we need to eliminate that type of confusion. That’s why we decided to change the name of the Credit Union. We want to help Kentuckians make more possible in their lives through affordable financial services and solid financial education.”
The Credit Union is profoundly aware of the heritage and prestige of carrying the Fort Knox name. In fact, the credit union team announced the new name on Fort Knox right next to building 1110 where they were started 70 years ago. The Credit Union continues to proudly serve and support members of the military and their families directly with services available on post.
“The Credit Union’s support of the military is increasing as we move forward with our new brand and name. In fact, we have invested more in military and Veterans groups, including $1.5 million in a military and community health program, than ever before,” Reba Watson, Chair of Abound Credit Union Board of Directors, said, “We are excited about starting this next chapter in our financial cooperative’s history and believe that these changes will create even more value for our existing members. It is important to understand that the new name is not the result of a merger nor is it a change in management or staff. The Credit Union will still be owned 100% by our members, just as it is today. Our mission to improve your financial lives and our commitment to offering the best financial services available remain the same. Our members will not even need to order new checks or worry about new account numbers, our operations as the Credit Union you trust will remain the same.”
The Board and Management of Abound Credit Union recently shared the new name and logo with the membership of the credit union. More information regarding the name change, and other ways in which the credit union is working to continually enhance member experience, may be found on our new website, www.aboundcu.com.
