In January of 1937, a group of Agriculture College Employees from the University of Kentucky developed this idea. Together, they formed the University of Kentucky Federal Credit Union to provide themselves and their co-workers with a better place to save and borrow money. UK Federal Credit Union is a not-for-profit financial cooperative. That means extra money isn’t given to a few stockholders but returned to members in the form of better rates and services. As a member-driven financial institution, UKFCU provides many benefits, including low rates when you borrow and high rates when you save. Most importantly, you own your credit union. Your participation, by helping to elect or serve on the board of directors, gives you a voice in your financial future.