St. Joseph Credit Union

Tom Poos
  • Tom Poos
    - President
  • Pete Leising
    - Vice-President
  • Natalie Powell
    - Treasurer / Manager
  • Molly Hamm
    - Secretary
  • John Holtz
    - Loan Officer
  • Bud Wagner
    - Member at Large


Due to increased Federal Regulations, the low interest rate environment and 4 consecutive years of losses, the Credit Union Board of Directors voted to explore merger opportunities with a larger, full-time credit union operation. The exploratory committee met with a couple of credit unions and made the proposal to the full Board that we initiate merger discussions with Cove Federal Credit Union (previously known as SEMC Federal Credit Union). Once the Board approved the proposal, the board at Cove Federal Credit Union approved the proposal. We then applied to the NCUA (National Credit Union Administration) for approval. Approval was granted by the NCUA. 

On August 27th, a Special Meeting of the members of the St. Joseph Federal Credit Union was held to vote on the proposed merger with Cove Federal Credit Union. Twenty-three members attended this meeting and another 82 members mailed in ballots, for a total of 105 votes cast on this proposal. The Proposal to Merge was approved with 91 votes, 86.67% of the votes cast. The merger is scheduled to be effective October 1, 2014. 

The St. Joseph Credit Union office will continue to be open Mondays and Thursdays in September from 7:00 p.m. to 8:30 p.m. The final day for business as St. Joseph Federal Credit Union will be Monday September 29th. At that time, existing accounts will be transferred to Cove Federal Credit Union. 

We do plan on maintaining the current office through the end of 2014. Please note that any transactions processed after September 30th will be processed with Cove Federal Credit Union. Monday December 29, 2014 will be the last day that the office at St. Joseph will be open. Please note that we will be monitoring the number of people walking into the office during the months of October, November and December and we receive the right to adjust the amount of time the office is staffed during this transitional phase. 

Please feel free to stop in the office during regularly scheduled business hours if you have any questions regarding this merger. Please feel free to contact Cove Federal Credit Union if you have any questions regarding their products and services. Cove’s office is located at 577 Dudley Road, Edgewood, Ky 41017. They can be reached at 859-292-9000. The website is

Thank you to all of our members and former members for your many years of patronage.

Schedule & Holiday Schedule

Business Frequency: Twice Weekly
Business Days: Monday and Thursday
Office Hours: 7:00 PM - 8:30 PM

Office Location: Credit Union Offices

Please note that in the event of snow, The Credit Union will be closed when there is a Snow Emergency declared for the city of Cold Spring.

2014 Holiday Schedule

§  Monday September 1 in observance of Labor Day

§  Monday October 13 in observance of Columbus Day

§  Thursday November 27 in observance of Thanksgiving

                 §  Thursday December 25 in observance of Christmas
Membership in the credit union is open to all parishioners and members of the parishioner's immediate family. Members must have a share account with a minimum balance of $25.00. There is a $1.00 fee to join the credit union. Savings Products offered:
  • Share Accounts (Passbook Savings) are currently paying .25%.
  • Christmas Club Accounts - open a Christmas Club Account. Save a specific dollar amount each week for 49 weeks and the Credit Union will pay the 50th week as your bonus. Christmas Club accounts can be opened beginning the first week of November and the checks are available the mid-October. PLEASE note that the Christmas Club account must be kept current throughout  the year to be eligible to receive the 50th week as a bonus.
  • Individual Retirement Accounts - we are currently paying 1.50% on IRA's
  • Certificate of Deposits -  We offer a 6 month CD and a 12 month CD and the interest will be paid based upon the maturity of the CD, with the longer term paying the higher rate. The full interest will be paid at maturity.                                                                                                                      We allow you to chose to have the interest paid to your share account or to include it in a rollover to a new CD.
    The minimum amount required to open a CD is now $1,500.                                                                                                                                       Please note that unless we receive specific direction prior to maturity, all CDs will be rolled over for 6 months with the interest posted to your share account.
  • Loan Products offered:
    • New Car Loans - we are currently charging 3.90%
    • Used Car Loans - 3.90% interest
    • Signature Loans - 9.00% interest

The Credit Union is staffed by volunteers. We are always looking for additional volunteers. No experience necessary. Please feel free to call Tom Poos at 859-261-6617 or Natalie Powell at 859-441-0049. Please feel free to stop in the credit union office in person.

Please feel free to mail requests to the Credit Union's attention at 4011 Alexandria Pike, Cold Spring, KY 41076. You may also drop off items in the mail slot at the rectory.