Fort Knox Federal Credit Union rebrands
Fort Knox Federal Credit Union of Radcliff, Ky., is rebranding to Abound Credit Union as part of a push to serve more Kentuckians.
The word “abound” means to exist in large numbers or amounts.
“The new name and brand will help make it clearer to our friends, neighbors, co-workers and family, that they can access the same credit union benefits we enjoy,” the $1.7 billion-asset institution wrote in a Q&A letter to its membership.
“[W]e are Abound Credit Union and together we rise," the credit union said in a video on its website announcing the new name.
Eighty percent of Kentuckians don't bank at a credit union, according to a study from the Kentucky Credit Union League, so the credit union hopes that its new name will bring in new membership.
Despite the new name, Abound will maintain its relationship with Fort Knox and the military, continuing its branch presence on the post after the rebrand is complete.
The change is not a result of a merger or acquisition. At the time of publication it was unclear if the credit union was converting to a state charter or merely dropping “Federal” from its branding, as some CUs have done.
Call report data reflects that the credit union earned $16.5 million in net income in 2019, up from $10.6 million one year prior. Fourth-quarter data shows the CU had 111,278 members through December 2019 out of a pool of 208,621 potential members.