ABOUT US
History
Kraftcor Federal Credit Union was originally founded in 1972 by a group of men that worked together at Wescor and Western Kraft paper mills in Hawesville, Kentucky. They believed in the Credit Union movement and wanted to start a financial institution that was owned by its members. This group of men applied for a federal charter on February 3, 1972 and it was approved on February, 29, 1972. The name was derived from a combination of the two paper mills names.
In 1975 Curtis McCormick took over the credit union management. This is when the credit union really began growing. Mr. McCormick originally ran the credit union from his kitchen table. It went from there to meeting in the basement of a local restaurant one day a week. At this point, the credit union was approximately $85,000.00 in assets. The credit union continued to grow and was eventually able to move to a dedicated location near the plants in December 1986. Over the next 14 years, Kraftcor continued to grow. In June 2000, Kraftcor built an all new facility, where it is currently operating. At the end of 2014 Kraftcor had 1,920 members and reported $14,549,706.00 in assets. Kraftcor started out as a credit union only affiliated with Wescor and Western Kraft, allowing only plant employees, retirees, or their immediate family to become members. In the summer of 2002, the directors and management began seeking an expansion of Kraftcor’s field of membership. They felt that it would be a great benefit to the community and to the credit union to become community chartered. On August 2, 2002, Kraftcor was approved to open its field of membership to Hancock and Western Breckinridge County. On September 22, 2016 another charter expansion was approved to include all of Hancock and Breckinridge Counties in KY, and Perry County, IN. The field of membership consists of any person who lives, works, or worships in Hancock, Breckinridge, or Perry County or is an immediate family member of someone that does.
Kraftcor works under the general credit union statement that “people are worth more than money”. Credit unions are member-owned and operated. Since we are not for profit, we can offer competitive rates and a full range of financial services tailored to meet our members’ needs. We offer our members a safe place to save money and obtain credit. We always try to center our goals on our members and help them however we can; after all, it is their credit union.
Members who applied for our charter in 1972 include:
Leo Wheatley, Francis L. Carter, James E. Harpe, Joseph A. Roach, Wayne Norris, Charles H. Kreisle, Lonnie L. Jarrell, James Randall Muffett, J.H. Brown Jr., and James T. Fennell
Mission Statement
Not for Profit, Not for Charity, but for Service Where People Are Worth More Than Money.