State-chartered credit unions must submit documentation for out-of-state credit union branch applications, field of membership expansions, bylaw changes and mergers. State laws governing credit unions can be found in Kentucky Revised Statutes (KRS) 286.6. Administrative regulations can be found in 808 Kentucky Administrative Regulations (KAR) 3.
A 2010 Kentucky Supreme Court ruling in favor of credit unions allows DFI to approve a geographic field of membership or community-based charter. In order to start a new credit union or change a field of membership at an existing credit union, management must submit a proposal to DFI for approval.
For More Information
Contact Joel Catron
by email or at 502-573-3390, ext. 277, or Jeff Roberts
by email or at 502-573-3390, ext. 323, regarding the operation and supervision of state-regulated credit unions.
Contact Shaun Orme
by email or at 502-573-3390, ext. 282 for legal questions regarding the operation and regulation of state-regulated credit unions.