Are you the Owner of this Business? ×
BBB® Accredited Business Seal

Are you...?

If yes, click here to login.

Are you...?

BBB Accredited Business since

Chemco Federal Credit Union

Additional Locations

Phone: (502) 772-5780 Fax: (502) 772-5784 4200 Bells Lane, Louisville, KY 40211 View Additional Web Addresses

BBB Business Reviews may not be reproduced for sales or promotional purposes.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Chemco Federal Credit Union meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Chemco Federal Credit Union include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 1 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Industry Ratings Comparison | Chart

Customer Complaints Summary Read complaint details

1 complaint closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 1
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Chemco Federal Credit Union
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: June 24, 2004 Business started: 01/01/1967 in KY Business started locally: 01/01/1967 Business incorporated 01/01/1967 in KY
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

National Credit Union Administration
1775 Duke Street, Alexandria VA 22314-3428
Fax Number: 703-518-6409

Type of Entity


Business Management
Ms. Sharon Y. Board, President Mr. Steve Parsons, Branch Manager
Contact Information
Principal: Ms. Sharon Y. Board, President
Customer Contact: Mr. Steve Parsons, Branch Manager
Business Category


Additional Locations

  • 1008 Templin Avenue

    Bardstown, KY 40004 (502) 348-8130

  • 4200 Bells Lane

    Louisville, KY 40211 (502) 772-5780


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

4/29/2014 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: Chemco FCU called me at work at 1 pm on Wednesday 1/29/14 stating that they were going to have to cancel my Debit Card due to the security breach at ******. I explained that I had just received a new 2014 card and that I wasn't concerned; and I would like to leave my card opened since I live 1.5 hours from the nearest Chemco branch. *****n *****, CEO, relayed through Customer Service Rep, *******, that that was NOT an option; so they cancelled my card. This left me only one business days to redirect my automatic payroll and trust deposits (which come on 30th of every month). I used Chemco's on line bill pay for ALL of my household bills. Chemco's haphazard handling of this debit card left me very few options to respond to my financial needs. I had to cancel and reschedule several bills, but some were already "processing" and I couldn't stop them. My payroll deposit was thankfully redirected on 1/31/14 and 2/14/14 to one of my other accounts. I sent Chemco a check for $1120 to cover the processing bill pays. Because my only option was US Mail, the check arrive on 2/5 as some of the checks were processing. They have charged me numerous reversable FEES. None of this wouldn't have happened if they hadn't cancelled my debit card on short notice....I could have easily moved money electronically from Chemco to Indiana Members Credit union. I have had email communication with *****n *****, CEO; email and phone conversations with ***** *******, Branch Manager; I've also sent Mr. ******* a letter; and spoken to ****** in Customer Service at Chemco Bardstown. No response or correction has occured at this time. Four business days have elapsed and no resolution has taken place.

Desired Settlement: I am asking that Chemco REFUND all OD fees between 2/1/14 and 2/20/14 which amunt to approximately $150 or more. I am also asking that they correct any payments that are on hold at this time. I am asking that they send me a replacement Debit Card at once. It's been 4 weeks since they cancelled my card, and I was promised a replacement in 3 weeks (which is outside reasonable and customary time to replace my card. My account was in EXCELLENT standing prior to 1/29/14. Over $7,000 a month in deposits were passing through their Credit Union prior to these issues. I want RESOLUTION ASAP, Thanks

Business Response:

CHEMCO Federal Credit Union

April 21, 2014


RE: Complaint ID: *******

**** *** ********

This letter is response to the complaint number above. This begin in January 2014 when we had the ****** Breach on our debit cards. It is Chemco Federal Credit Unions policy to replace all compromised debit or credit cards. We replaced over 120 cards due to this breech. When Ms. ******* was contacted that her card had been compromised and we would be replacing the card she informed us we could not close her card and was very rude and hostile to the member service representative. She informed her that if we closed the card she would close her account. We informed her that this was to benefit her and protect the credit union from fraud. She did not care so she took all of her money out and stopped her direct deposit to Chemco Federal.

What she failed to do was to keep money in her account to cover what she had outstanding in her checking account. She went overdrawn on Jan 29, 2014 and did not make a deposit to cover the overdrawn account until February 5, 2014. She went overdrawn again on Feb. 5, 2014 and did not cover these drafts until February 13, 2014. Ms. ******* was charged for the overdrafts and this is what she is harassing Chemco Federal to return her charges.

She has wrote everyone about this trying to make us give her the overdraft charges back. Chemco Federal has an A+ rating with the BBB and we always strive to keep this, but with this situation and the rudeness and mistreatment of staff we feel we are in the right and theses charges will remain.

Canceling her debit card had nothing to do with her overdraft checking. She caused this and should be charged. She has harassed everyone in both of my offices and made threats to me and staff.

If you need any other information from me please call or email and I would be glad to provide.

Sincerely Yours,  

****** *. *****,