Cove Federal Credit Union

Headquarters

577 Dudley Rd
Edgewood, KY 41017
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 5.50% →
1-Year CD 0.75% 4.80% →
2-Year CD 1.00% 4.25% →
5-Year CD 1.40% 4.00% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

Reviewed by Andrew Larison | February 26, 2022 |

We will be closing our accounts with Cove Federal Credit Union and will bank elsewhere.
What the employees at the 577 Dudley Rd location don’t seem to understand is that banks are a dime a dozen, my girlfriend and I value exceptional customer service and that is NOT what you will receive at Cove.

This past week we had a massive home renovation completed which will cost $19,000. Over the course of three separate visits we were met with unhelpful, and downright rude tellers, who provided us with misleading and incorrect information.

A teller, who refused to provide her name, (an older white woman with a short blonde haircut and a nasty attitude, you’ll know her when you see her) provided some of the worst customer service I have ever experienced within a financial institution. She is apparently either lacking in knowledge or poorly trained, possibly both, but I feel that this speaks volumes for the entire branch, who they choose to hire, and how they prefer to conduct business.
She was unaware of the upper spending limits that are often placed on debit cards when we asked her to temporarily remove the limit so that our $19,000 invoice could be paid.
When we asked her to make a note on the account that this was in fact going to be a legitimate transaction she said, “The money is in the account, if it’s from a business it should go through.” Yet that is why we were in the branch, to ensure that it WOULD go through. Many times in the past I have had accounts temporarily frozen as banks flag large transactions for potential fraud. Apparently the fraud protection at Cove is nearly nonexistent if they are willing to regularly let large transactions like that go through with no questions asked.

After calling a different representative, Misty, we were told that there were indeed upper limits on debit card transactions and that there was no way that a charge that large would not be flagged and that we would be unable to use our debit card for that purchase. This was news to the nameless rude teller who said, “Well you never said that you were trying to use your debit card.”
At no point during our visit to this branch were we asked HOW we intended to proceed with this transaction, we were just given the runaround and left with little assurance that Cove would allow us to pay our bill without flagging the transaction despite us visiting the branch multiple times in an effort to be able to access our money as necessary.
Upon requesting a cashiers check for the full amount the teller was so incompetent that she filled it out incorrectly, going so far as to misspell my girlfriend’s name EVEN AFTER WE HAD WRITTEN IT DOWN FOR HER.

I get that it doesn’t take a rocket scientist to be a bank teller, but you should at least give a fuck.

This particular account with Cove FCU has been open for 10 YEARS, and this experience has left such a bad taste in our mouths that we will be emptying and closing our accounts within the week.
It is Saturday, Feb 26, 2022. We will be opening an account elsewhere on Monday.

This woman was so bad at her job, so rude, and so unhelpful that we will NEVER choose to do business with Cove Federal Credit Union ever again. This reflects poorly on the entire branch, branch management, and executive decision-making.
The carelessness and piss-poor service of a single employee has cost Cove the entirety of our business.

Save yourself the hassle, DO NOT LET COVE HANDLE YOUR MONEY!


2024 Overview

General Credit Union Information

Cove is an NCUA insured institution located in Edgewood, KY. It was founded in 1970 and has approximately $77.74 millions in assets.

NCUA Insured Yes / Federally Chartered
Charter Number # # 19879
Date Established 1970
Assets $77.74 million
Loans $55.99 million
Deposits $64.60 million
Capital $12.02 million
 

Field of Membership Restrictions

Membership in Cove Federal Credit Union is open to the following: (1) employees and physicians of The Christ Hospital; (2) employees of the Diocese of Convington and its affiliated schools; (3) employees of St. Elizabeth's Physicans groups; (4) employees of Beckfield College, Grant Center and over 25 other select employer groups.

Deposit Rates - November 25, 2024

Your Current Location: Ohio, OH 43085

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Savings
0.15% $2,500 $4,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
6 Mo CD
0.50% $10,000 $14,999 Learn More
6 Mo CD
0.50% $100,000 $199,999 Learn More
12 Mo CD
0.75% $10,000 $14,999 Learn More
12 Mo CD
0.75% $100,000 $199,999 Learn More
18 Mo CD
0.85% $10,000 $14,999 Learn More
18 Mo CD
0.85% $100,000 $199,999 Learn More
24 Mo CD
1.00% $10,000 $14,999 Learn More
24 Mo CD
1.00% $100,000 $199,999 Learn More
30 Mo CD
1.10% $10,000 $14,999 Learn More
30 Mo CD
1.10% $100,000 $199,999 Learn More
36 Mo CD
1.20% $10,000 $14,999 Learn More
36 Mo CD
1.20% $100,000 $199,999 Learn More
48 Mo CD
1.25% $10,000 $14,999 Learn More
48 Mo CD
1.25% $100,000 $199,999 Learn More
60 Mo CD
1.40% $10,000 $14,999 Learn More
60 Mo CD
1.40% $100,000 $199,999 Learn More
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - November 25, 2024

Your Current Location: Ohio, OH 43085

There are currently no loan rates available for Cove

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:



Featured - Ohio 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
District Lending
NMLS ID: 1835285
6.356% 6.250% 0.63 $3,600 $1,971 Learn More
Sebonic
NMLS ID: 66247
6.452% 6.375% 0.75 $2,586 $1,997 Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.710% 6.625% 0.63 $2,818 $2,049 Learn More
PenFed Credit Union
NMLS ID: 401822
7.034% 6.875% 1.00 $5,195 $2,103 Learn More

Featured - Ohio Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
Intro APR
7.240 %
After Intro: 7.240 %
$0 Learn More
More Info
Achieve Loans
Achieve Loans
See Table
Intro APR
10.625 %
After Intro: 10.625 %
$0 Learn More
More Info

Note to Cove
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Below are Cove branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Columbus,Ohio


Cove Locations around zip code 43085


BranchDistance Map View Lobby Hours

SEMC FEDERAL CREDIT UNION

106.21 A View Lobby Hours


Climate Policy and Initiatives

COVE is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.


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Financial Details

Cove Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Cove. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.

Texas Ratio
Cove U.S. Average
4.16% 5.83

The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.

As of June 30, 2024, Cove had $511,879 in non-current loans and $7,997 in owned assets. To cover these potential losses it had $12,021,374 in net worth and $470,126 in loans loss reserves. That gives it a Texas Ratio of 4.16%.

Net Worth
Cove U.S. Average
15.43% 13.93%

Cove FCU has a net worth of 15.43% versus the BestCashCow average of 13.93. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.



Customer Reviews for Cove


  • February 26, 2022 |

    We will be closing our accounts with Cove Federal Credit Union and will bank elsewhere.
    What the employees at the 577 Dudley Rd location don’t seem to understand is that banks are a dime a dozen, my girlfriend and I value exceptional customer service and that is NOT what you will receive at Cove.

    This past week we had a massive home renovation completed which will cost $19,000. Over the course of three separate visits we were met with unhelpful, and downright rude tellers, who provided us with misleading and incorrect information.

    A teller, who refused to provide her name, (an older white woman with a short blonde haircut and a nasty attitude, you’ll know her when you see her) provided some of the worst customer service I have ever experienced within a financial institution. She is apparently either lacking in knowledge or poorly trained, possibly both, but I feel that this speaks volumes for the entire branch, who they choose to hire, and how they prefer to conduct business.
    She was unaware of the upper spending limits that are often placed on debit cards when we asked her to temporarily remove the limit so that our $19,000 invoice could be paid.
    When we asked her to make a note on the account that this was in fact going to be a legitimate transaction she said, “The money is in the account, if it’s from a business it should go through.” Yet that is why we were in the branch, to ensure that it WOULD go through. Many times in the past I have had accounts temporarily frozen as banks flag large transactions for potential fraud. Apparently the fraud protection at Cove is nearly nonexistent if they are willing to regularly let large transactions like that go through with no questions asked.

    After calling a different representative, Misty, we were told that there were indeed upper limits on debit card transactions and that there was no way that a charge that large would not be flagged and that we would be unable to use our debit card for that purchase. This was news to the nameless rude teller who said, “Well you never said that you were trying to use your debit card.”
    At no point during our visit to this branch were we asked HOW we intended to proceed with this transaction, we were just given the runaround and left with little assurance that Cove would allow us to pay our bill without flagging the transaction despite us visiting the branch multiple times in an effort to be able to access our money as necessary.
    Upon requesting a cashiers check for the full amount the teller was so incompetent that she filled it out incorrectly, going so far as to misspell my girlfriend’s name EVEN AFTER WE HAD WRITTEN IT DOWN FOR HER.

    I get that it doesn’t take a rocket scientist to be a bank teller, but you should at least give a fuck.

    This particular account with Cove FCU has been open for 10 YEARS, and this experience has left such a bad taste in our mouths that we will be emptying and closing our accounts within the week.
    It is Saturday, Feb 26, 2022. We will be opening an account elsewhere on Monday.

    This woman was so bad at her job, so rude, and so unhelpful that we will NEVER choose to do business with Cove Federal Credit Union ever again. This reflects poorly on the entire branch, branch management, and executive decision-making.
    The carelessness and piss-poor service of a single employee has cost Cove the entirety of our business.

    Save yourself the hassle, DO NOT LET COVE HANDLE YOUR MONEY!


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