LOUISVILLE, KY (January 3, 2014) -- Park Community Federal Credit Union has been granted a state charter which will enable them to offer membership in 13 additional counties in the Bluegrass Region in Kentucky and expand their service area in Fayette and Clark Counties. Any individual who lives, works, worships, attends school, or volunteers in the following 17 contiguous counties in Kentucky will be eligible to join: Fayette, Madison, Estill, Clark, Woodford, Anderson, Mercer, Boyle, Lincoln, Garrard, Powell, Jessamine, Nicholas, Bourbon, Scott, Franklin, and Harrison.
The charter change will have no effect in the Louisville Metro Area. Park Community will continue to offer membership in the same nine counties of: Jefferson, Bullitt, Henry, Oldham, Shelby, Spencer and Trimble Counties in Kentucky and Clark and Floyd Counties in Southern Indiana. It also will not affect membership in Decatur, AL. With the new charter, the credit union will modify its name to become Park Community Credit Union.
Prior to receiving the state charter, Park Community’s membership had been restricted in the Lexington area to serving specific census tracts in Fayette and Clark Counties. Park Community’s corporate office is located at 6101 Fern Valley Road in Louisville, KY. The credit union operates seven branches in Louisville and two in Southern Indiana, with other locations in Lexington, Richmond and Berea, Kentucky and one in Decatur, Alabama. Additional locations are planned for 2014.
The credit union will continue to be federally insured by the National Credit Union Share Insurance Fund (NCUSIF).
“The state charter allows us to serve a much broader segment of the Bluegrass market,” noted Park Community Marketing Director Carolyn Riggs. “We believe that consumers will benefit from having a greater degree of choice in the financial services available to them.”
“Park Community has kept pace with other financial institutions with regard to the products they offer,” added Riggs. “Our members have access to free checking, online banking, mobile banking, ATMs, and a wide variety of loans and accounts—the whole range of services and products you would expect any competitive financial institution to offer.”
The charter was approved by the National Credit Union Administration and by the Kentucky Department of Financial Institutions effective December 31, 2013.
“We are pleased that Park Community Credit Union is now the second-largest state-chartered credit union under our supervision,” said Kentucky Department of Financial Institutions Commissioner Charles A. Vice. “The Kentucky DFI believes that a state charter provides significant value due to the local decision making process and our knowledge of local economic conditions. This credit union’s desire to switch to state regulation is a testament to the strength of the state charter and DFI’s positive role as a regulator.”
Park Community Credit Union has a total of 13 branches, 9 of which serve the Louisville Metro Area of Jefferson, Bullitt, Oldham, Henry, Shelby, Spencer, and Trimble Counties in Kentucky and Clark and Floyd Counties in Southern Indiana. Additional branches are located in Richmond, Lexington, and Berea, Kentucky, and Decatur, Alabama. For more information about Park Community Credit Union, please visit www.parkcommunity.com, or follow us at www.facebook.com/parkcommunityfcu and www.twitter.com/parkcommunity.