Lake Chem Federal Credit Union was founded to serve the employees at the B. F. Goodrich Chemical plant located in Calvert City, Kentucky, and federally chartered in June 1971. The credit union has expanded its field of membership by adding Select Employee groups. Until August 2005 it had added to its field of membership 20 groups and had over 3,500 members.
On August 18, 2005, Lake Chem Federal Credit Union was approved by NCUA to change their charter from a common bond charter to a community charter allowing them to encompass the whole of Marshall County. At that time the Board of Directors changed the credit union's name to Lake Chem Community Federal Credit Union.
Our goal is to offer affordable financial services that our members want and need at competitive rates while maintaining the credit union's financial stability.
We celebrated our 35th year Anniversary as a credit union in June 2006. On May 13, we hosted a 35th Anniversary Picnic at Mike Miller Park. All credit union members were invited to attend and help us celebrate.
The credit union opened a branch in Draffenville on March 6, 2006 to better serve our members in the Marshall County community. The branch has an ATM at the drive-thru window and a night depository. We have started construction for the new office on the property at the corner of Highway 68 and 641 in Draffenville with the projected opening date of mid-June 2009. We will always maintain a branch in Calvert City.
With the membership constantly growing, we now have a charter for Calloway County! Our Murray branch opened October 2011. This branch also has an ATM at the drive-thru window and a night depository.