A Credit Union is a not-for-profit banking organization designed to provide financial services and loans to its members. Credit Unions are member-owned, and governed by a board of directors. The board is elected by and represents all members. They help to sets policies and rates for share accounts and loans. That’s one of the reasons credit unions are considered to be one of the safest institutions to do business with.
Credit unions began more than a century ago when communities and company employees joined together to create better banking options. In KEMBA’s case, a group of Kroger employees founded KEMBA, which stands for Kroger Employees Mutual Benefits Association.
Instead of sending profits to outside investors, credit unions like KEMBA reinvest earnings directly into their members. This means better rates, lower fees, and personalized service. In addition, credit unions help local communities thrive by keeping money close to home rather than in large national institutions.
Membership is exclusive to specific groups, such as employees, families, or communities—just as it was when KEMBA was created. Because of this structure, members benefit from policies designed with their best interests in mind. As a result, KEMBA continues to focus on helping members save more, borrow smarter, and build stronger financial futures.
Our trusted mortgage partner, Member First Mortgage, also offers a variety of programs to fit your unique needs. Together, we’ll help you find the right mortgage solution for your situation.
Yes! Every KEMBA account is insured up to $250,000 with American Share Insurance (ASI)—the nation’s largest private deposit insurer. This protection gives you peace of mind knowing your money is safe and secure.
The first credit unions appeared more than a century ago. In the United States, the movement began with the St. Mary’s Cooperative Credit Association, a church-run group dedicated to helping people save and borrow fairly.
Since then, credit unions have grown into a trusted financial choice for millions of Americans. Today, one in three people in the U.S. belong to a credit union—and if you’re a KEMBA member, you’re part of that powerful community.
If you have questions or would like to learn more, contact us anytime. We’re always happy to help.
