Commonwealth Credit Union
Commonwealth Credit Union is a member-owned financial institution based in Frankfort, Kentucky, founded in 1951. Its giving has included community donations and sponsorships, while scholarships are administered through the Commonwealth Credit Union Foundation.
Commonwealth Credit Union at a glance
In short: Commonwealth Credit Union gave $103K across 1 grant in 2025 (avg $103K), mostly in Kentucky. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $103,000
- -89.0% vs 2024
- Grants made (2025)
- 1
- -91.7% vs 2024
- Average grant
- $103,000
- +32.4% vs 2024
- Median grant
- $103,000
- Primary geography
- Kentucky (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
How to apply to Commonwealth Credit Union
- Contact
Mailing address: PO Box 978, Frankfort, KY 40602-0978
Phone: (502) 564-4775
Website: https://ccuky.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Commonwealth Credit Union
Who Commonwealth Credit Union funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was University of Louisville Foundation Inc ($103K).
Grant Size Distribution
38 grants across all recorded years
The most common grant size was under $50K: 26 grants of 38 (68%).
Geographic Focus
Where this funder awards grants
The credit union is based in Frankfort, Kentucky. Its website describes service to the communities it serves, and reported 2024 grantees include organizations in Louisville, Richmond, and Frankfort, Kentucky.
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
Cities
How Commonwealth Credit Union gives
- Giving fell 56% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $103K (2025) to $933K (2024). In 2025 it made 1 grant totaling $103K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Louisville Foundation Inc Louisville, KY | To support a transformative impact on campus today and chart the course for a stronger community in the years to come. | $103,000 |
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Financial History
Multi-year comparison from IRS filings
The filing data identifies the filing type as Form 990 (a public charity).
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | — | $14,658,808 | $13,095,345 | $103,000 | 1 | $1,524,185 |
| 2024 | $2,470,693,541 | $159,530,457 | $137,050,921 | $933,203 | 12 | $13,170,116 |
| 2023 | $2,210,286,474 | $122,362,301 | $111,540,681 | $290,654 | 11 | $12,097,960 |
| 2022 | $2,025,445,100 | $97,138,254 | $79,510,556 | $236,500 | 8 | $7,265,952 |
| 2021 | $1,891,090,350 | $88,350,902 | $74,247,631 | $355,500 | 6 | $4,473,534 |
| 2020 | $1,651,235,047 | $82,648,583 | $73,800,847 | $390,126 | 7 | $4,241,905 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
Commonwealth Credit Union’s website says its mission is “Bettering Lives Through Our Passion to Serve,” with a focus on members’ financial well-being. Its community-giving guidelines emphasize improving health for women, children, and families, and supporting efforts that help people learn, thrive, and grow. The website describes the Commonwealth Credit Union Foundation as an independent 501(c)(3) focused on community health and well-being, with special attention to women, children, and veterans.
Reported 2024 recipients illustrate a range of supported organizations. Baptist Health Foundation Lexington says its mission is to promote philanthropy and provide resources to strengthen Baptist Health Lexington in providing quality health care. Eastern Kentucky University Foundation says it supports the university’s education and regional-stewardship goals. Frankfort Area Chamber of Commerce describes its mission as building a vibrant economy through member-driven advocacy and community leadership; Downtown Frankfort Inc. says it works to revitalize and preserve downtown Frankfort.
Grantmaking
In 2024, Commonwealth Credit Union reported 12 grants totaling $933,203. In 2023, it reported 11 grants totaling $290,654. No typical award size is published in the supplied information. Its 2025 filing, the latest on this page, reports 1 grant totaling $103,000.
Notable 2024 recipients included Baptist Health Foundation Lexington, which received $250,000; Eastern Kentucky University Foundation, which received $200,000; Frankfort Area Chamber of Commerce, which received $10,005; and Downtown Frankfort Inc., which received $8,500.
The credit union’s website describes donation and sponsorship guidelines, including a preference for requests that benefit the community as a whole and reflect its mission and values. Its guidelines exclude religious or political promotion, social sororities and fraternities, individual sports activities and community beauty pageants, organizations already sponsored in the calendar year, and organizations that do not qualify as 501(c)(3) nonprofits or tax-exempt organizations. Because the filing data reports no 2025 grants and the 2024 return is marked final, these guidelines should not be treated as confirmation that applications are currently being accepted.
The Foundation’s scholarship program is separate from grants to outside organizations. The website describes five renewable scholarships each year, valued at $2,500 annually and up to $10,000 over four years. The 2026 application cycle, with an April 15, 2026 deadline, has passed.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Karen Harbin as CEO, president, and board member; Donnie Rodgers II as vice chairperson; Thomas Randy Fawns as chairperson; and Robin Ellis as secretary/treasurer. It also lists Douglas Smith, James Chadwell, Kay Jones, Kenneth Blackwell, Mary Foster, and Regina Grubbs as board members.
Commonwealth Credit Union is led by Karen Harbin, CEO, President & Board Member on every filing since 2020; 3 of 14 officers listed in 2025 are compensated.
Officers on the 2025 filing
Karen Harbin
CEO, President & Board Member
On filings since 2020
40 hrs/week
$610K (2020) → $85K (2025)
Thomas Randy Fawns
Chairperson
On filings since 2023
1 hr/week
$6K (2023) → $0 (2025)
Donnie Rodgers II
Vice Chairperson
Board of Directors → Treasurer, 2021
Treasurer → Vice Chairperson, 2022
On filings since 2020
1 hr/week
$1K (2020) → $0 (2025)
Mary Foster
Board of Directors
Board of Directors → Board Member, 2024
Board Member → Board of Directors, 2025
On filings since 2020
1 hr/week
$6K (2023) → $0 (2025)
Regina Grubbs
Board of Directors
Board of Directors → Board Member, 2024
Board Member → Board of Directors, 2025
On filings since 2020
1 hr/week
$917 (2022) → $86 (2025)
Stephen Bellas
CFO
On filings since 2020
40 hrs/week
$296K (2020) → $44K (2025)
James Chadwell
Board of Directors
Board of Directors → Board Member, 2024
Board Member → Board of Directors, 2025
On filings since 2023
1 hr/week
$5K (2023) → $0 (2025)
Joseph Brewer
Board of Directors
Board of Directors → Board Member, 2024
Board Member → Board of Directors, 2025
On filings since 2023
1 hr/week
$900 (2023) → $0 (2025)
Robin Ellis
Secretary & Treasurer
Treasurer → Treasurer & Secretary, 2024
On filings since 2023
1 hr/week
$8K (2023) → $0 (2025)
Kay Jones
Board of Directors
Board of Directors → Board Member, 2024
Board Member → Board of Directors, 2025
On filings since 2020
1 hr/week
No compensation reported
Kenneth Blackwell
Board of Directors
Board of Directors → Board Member, 2024
Board Member → Board of Directors, 2025
On filings since 2020
1 hr/week
No compensation reported
Carmine Iaccarino
Board of Directors
Board Member → Board of Directors, 2025
On filings since 2024
1 hr/week
No compensation reported
Douglas Smith
Board of Directors
Board Member → Board of Directors, 2025
On filings since 2024
1 hr/week
No compensation reported
Jacqueline Duvall
Board of Directors
Board Member → Board of Directors, 2025
On filings since 2024
1 hr/week
No compensation reported
Former officers (19)
- Former: Douglas Graham (2023–2024) — Chief Innovation & Strateg
- Former: Jaynel Christensen (2023–2024) — Executive Vice President
- Former: Matthew Stewart (2023–2024) — Senior Vice President of Commercial Services
- Former: Patricia Smith (2023–2024) — Chief Brand & Advocacy Officer
- Former: Kimberly Durrum (2024) — Chief Member Experience Officer
- Former: Lisa Stinson (2024) — Chief People Officer
- Former: David Young (2020–2023) — Executive Vice President
- Former: Karen Maxfield (2020–2023) — Chief People Officer
- Former: Kelly Smith (2021–2023) — Board of Directors
- Former: Alan Davis (2020–2022) — Chief Lending Officer
- Former: Bill Leach (2020–2022) — Board of Directors
- Former: Doug Graham (2020–2022) — Chief Innovation & Strategy Officer
- Former: Gloria Thomas (2020–2022) — Chief Operations Officer
- Former: Jim Chadwell (2020–2022) — Board of Directors
- Former: Patty Smith (2020–2022) — Chief Brand & Advocacy Officer
- Former: Randy Fawns (2020–2022) — Chairperson
- Former: Rob Ellis (2020–2022) — Secretary & Treasurer
- Former: Randy Overstreet (2020–2021) — Board of Directors
- Former: Alex Rose (2020) — Board of Directors
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $85K, to Karen Harbin (CEO/President/Board Member). 3 officers or directors reported compensation on that filing.
Frequently asked questions about Commonwealth Credit Union
How much does Commonwealth Credit Union give each year?
Commonwealth Credit Union gave $103K across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $933K across 12 grants.
What does Commonwealth Credit Union fund?
Commonwealth Credit Union’s website says its mission is “Bettering Lives Through Our Passion to Serve,” with a focus on members’ financial well-being. See mission & focus areas ↑
How do I apply for a grant from Commonwealth Credit Union?
Commonwealth Credit Union has no public application process in the sources Grantable reviewed. Check ccuky.org for current guidelines, or contact the foundation directly before submitting a request.
Where does Commonwealth Credit Union make grants?
The credit union is based in Frankfort, Kentucky. Its website describes service to the communities it serves, and reported 2024 grantees include organizations in Louisville, Richmond, and Frankfort, Kentucky.
What is Commonwealth Credit Union's EIN?
Commonwealth Credit Union's EIN (Employer Identification Number) is 61-0671028. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS August 24, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS August 12, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS July 25, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS September 4, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS September 17, 2025)
- Updated Form 990 for fiscal year 2025 (received by the IRS December 12, 2025)
- IRS filings on file for fiscal years 2020–2025
Other open foundation grants in Kentucky
Kentucky Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Commonwealth Credit Union's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Commonwealth Credit Union funder profile. GrantGraph. Retrieved October 17, 2026, from https://grantable.co/funders/commonwealth-credit-union-morg_9f074909cb3145009b910e449ef61667
BibTeX
@misc{grantable_610671028_2026,
author = {{Grantable}},
title = {{Commonwealth Credit Union funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/commonwealth-credit-union-morg_9f074909cb3145009b910e449ef61667},
note = {Accessed 2026-10-17. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Commonwealth Credit Union's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Commonwealth Credit Union down — hundreds of funders to go?