Sep, 30, 2025 — COVE FEDERAL CREDIT UNION is a federal credit union headquartered in EDGEWOOD, KY with 1 branch location and about $79.79 million in total assets. Opened 56 years ago in 1970, COVE FEDERAL CREDIT UNION has about 6,511 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COVE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 577 Dudley Rd EDGEWOOD, KY 41017-3248 |
| Phone: | (859) 292-9000 |
| Fax: | (859) 426-5610 |
| Website: | https://www.covefcu.com |
| Branches: | 1 branch locations |
| Members: | 6,511 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19879 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1970 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $79,787,631 |
| CEO/Manager: | Tom Burns |
| Chairperson: | Brian Drees |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,511,565 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 37,240,516 |
| Unsecured Loans | 4,785,004 |
| Other Loans | 12,605,725 |
| TOTAL LOANS | 54,631,245 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -724,791 |
| Land And Building | 0 |
| Other Fixed Assets | 783,503 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 661,383 |
| All Other Assets | 0 |
| TOTAL ASSETS | 79,787,631 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,476,367 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,131,414 |
| Regular shares | 19,980,336 |
| All Other Shares & Deposits | 37,991,686 |
| TOTAL SHARES & DEPOSITS | 66,103,436 |
| TOTAL LIABILITIES | 67,580,338 |
| Regular Reserve | 0 |
| Other Reserves | -160,327 |
| Undivided Earnings | 12,367,620 |
| TOTAL EQUITY | 12,207,293 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 79,787,631 |
| INCOME & EXPENSE | |
| Loan Income | 2,056,001 |
| Investment Income | 672,491 |
| Other Income | 301,396 |
| Total Employee Compensation & Benefits | 1,108,433 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,156,240 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,685 |
| Cost of Funds | 754,525 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 288,694 |
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