Frequently Asked Questions


How do I become a member?

You are eligible to join Cove if you work for one of our Select Employer Groups or have a family member that does.

Are my family members able to join?

Yes, your immediate family members are eligible if you are eligible for membership.

What happens if I stop working for my employer who offers the credit union benefit?

Once you become a member at Cove, you are always a member.

Is there a minimum deposit required to become a member?

Membership requires a Choice Savings account with a minimum $5 deposit. Go to our Choices Matter page to learn more.

As an employer how can I offer Cove membership to my employees?

We would love to talk with you about offering Cove membership to your employees as a no-cost benefit. Click here to Contact Us.


How do I log into Online Banking?

Simply click the login button located at the top right of your screen. If this is your first time logging in, your ID is your member number and your default password is the last 4 of your social.

How do I reset my password for Online Banking?

Contact our call center at 859-292-9000 for assistance.

Can I change my address and contact information?

Yes you can. Login to Online Banking. Select the “Customer Service” tab and choose “Update Contact Information” from the menu.

Is Online Banking Secure?

Yes, Cove uses the highest level of security to safeguard your information.

Do you offer Mobile Banking?

Yes we do. Our free app is available on Google Play and the App Store.

Can I deposit a check with my smart phone?

Yes, Check Snapshot Deposit is available on our mobile app.

How do I sign up for Bill Pay?

Login to Online Banking. Then click on the “Online Services” tab and select “Bill Pay” from the menu.

How do I access Bill Pay?

Bill Pay is accessed through Online Banking by clicking “Online Services” and then selecting “Bill Pay” from the menu. Bill Pay can be accessed through the mobile app also. However, payees must be added through Online Banking.

Who can I call if I have questions about Bill Pay?

You can contact Bill Pay support at 1-877-308-0250.

How do I sign up for e-Statements?

Log into Online Banking. Click on the “Online Services” tab and select “e-Statements” from the menu.

How do I view my e-Statements?

e-Statements can be viewed and download by logging into Online Banking. Click “Online Services” and then select “e-Statements” to view or download them. Adobe reader or an equivalent PDF viewer is required for e-Statements. You can download Adobe Reader for free here:

How can I access my information after business hours if I don’t have a computer or smartphone?

Our Audio Teller is available 24/7 by calling 859-781-5640. You can check your account balances, transfer funds, or request a cashier’s check. If you are calling Audio Teller for the first time, your ID will be your member number and the default password will be the last 4 digits of your social.


What is Cove’s routing or transit number?


Are my funds federally insured?

Yes, your deposit are insured to at least $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government.

What is regulation D?

Regulation D is a federal regulation that limits the number of electronic transfers from savings accounts. Under regulation D, a maximum of 6 transfers per month from a savings account are allowed. These transactions include phone requests, overdraft transfer, online banking, e-mail request, and faxed requests. There are no limitations on ATM, in-branch, or shared-branch transactions. Please note, this is a regulation mandated by the federal government. This is not a credit union policy.

You can remove a joint owner from a membership in person at Cove. Both the primary and joint owner to be removed must be present to sign the membership change request. Or, both the primary and joint owner can send a request via each person’s e-mail address. Only requests from e-mail addresses matching our records will be honored.

How do I update my name, address, or contact information?

You can update your information by logging into Online Banking and selecting the “Customer Service” tab and then choosing “Update Contact Information” from the menu. You can also request to have your information updated via e-mail request or by visiting Cove in person.

What are the minimum balance requirements for checking and savings account?

A Choice Savings account is required for membership and must have a $5 minimum balance. (Go to our Choices Matter page to learn more). There is no minimum balance requirement for Choice or Golden checking. Other accounts require a minimum balance. View our Savings Rates page for more information.

How can I make deposits to my account?

Make deposit in person, by mail, ACH, EFT, direct deposit, shared branch, or take advantage of payroll deduction.

How can I withdraw money from my account?

You can make withdrawals from your Choice Savings or Choice Savings Plus account in person at Cove or any shared branch location. If you have a checking account you can withdraw cash from one of our many No Charge ATMs, in person at Cove, at any shared branch location, or by getting cash back with a debit card transaction.

How long does it take to receive my MasterCard debit card?

Your debit card will arrive in 7 to 10 business days. You debit card PIN will arrive separately from your debit card.

Can I order an additional card for my spouse?

Yes, as long as they are a joint owner on your account.

Where are your ATMs located?

Go to our No Charge ATMs page to find an ATM.

What is Shared Branches?

Shared Branching allows you to access your Cove accounts at participating credit unions nationwide. You can make deposits, withdraw cash, make loan payments, transfer funds between accounts, and more. Go to our No Charge ATMs & Shared Branch Locator page to learn more.

What do I do if my MasterCard debit card is lost or stolen?

Contact Cove at 859-292-9000 to report your debit card lost or stolen. To report a lost or stolen debit card after normal business hours call 1-866-842-5208.

How do I order checks?

You can send your request using our secured messaging in Online Banking. You can also order check in person at Cove or by calling 859-292-9000.

Who do I call if my checks are stolen?

Report the stolen checks (including check numbers) through our secured messaging in Online Banking, in person at Cove, or by calling 859-292-9000.


What is the difference between a Traditional or Roth IRA?

Learn about the different types of Individual Retirement Accounts by going to our IRAs page.

Do you offer IRA savings and certificates?

Yes, we offer both. Certificates require a minimum of $1000 to open and have various terms available at a higher interest rate than a savings IRA.

Can I open both?

Yes you can. You can open both a savings and certificate as well both Traditional and Roth IRAs on the same plan. You can also have more than one certificate.

What is the maximum I can contribute per year?

Go to our IRAs page and scroll down just a little to “Current IRA Contribution Levels.”

Can I contribute from my social security?

Contributions can only be made from earned income.


Do I have to be a member to apply for a loan?

No, you can apply for a loan online or by phone without being a member. However, you must be eligible for membership. Prior to the loan being funded, you will need to establish your membership by opening a Choice Savings account with the required $5 minimum deposit.

How can I apply for a loan?

You can apply online anytime, or by calling 859-292-9000 during normal business hours.

What information do I need to refinance an auto loan?

We will need a copy of the title to the vehicle, a 10-day payoff from the institution that the vehicle is currently financed with, their payment address, and a copy of your insurance declaration page.

Is there a fee charged to apply for a loan?

Yes, there is a $25 application fee. This fee is added to loan at the time of funding.

What type of income verification is required for self employed individuals?

We require copies of your tax returns from at least the past 2 years
What are interest rates?”]

Go to our Loan Rates page.

What types of loans do you offer?

We offer auto, specialty vehicle, and personal loans. We have a wide array of mortgage options available. We also offer a Platinum Visa Credit Card.

How long does it take to receive my Platinum Visa Credit Card.

Once your application has been approved you will receive your credit card to 7 to 10 business days.

What do I do if my Visa Credit Card is lost or stolen?

Contact Cove at 859-292-9000 to report your credit card lost or stolen. To report a lost or stolen credit card after normal business hours call 1-800-808-7230.

Are there any prepayment penalties for paying a loan off early?

No, there are not.

How long does it take to get a loan decision?

Loans can take up to 24 hours depending on the volume of loan requests.

How do I make payments?

We accept payroll deduction and direct deposit. Payment can be set to automatically transfer from your checking or savings account. Payments can also be made through Online Banking, mobile app, in person at Cove or any shared branch location


What information do I normally need when buying or refinancing a home?

Go to our Mortgages page and review the infographic.

What is the difference between being prequalified and preapproved?

Prequalified means we have your basic application and have looked at your credit report. Based on the credit information provided, we determine that you can obtain a mortgage up to a certain amount.

Pre-approved means you have completed the steps to get prequalified, and you have provided the minimum required documentation to get a mortgage.

If I am preapproved, how long is my approval good?

Approvals are good for 60 days.

What are the basic qualifications to buy a home?

The basic qualifications are two (2) years at the same employer or in the same field, a minimum of two trade lines reported on your credit report with at least 12 months of payment history, and no 30-day late payments in the past 12 months. A minimum credit score of 620 is required in most cases.

What types of mortgages are offered?

All types are offered including conventional, VA, FHA, or USDA program with fixed and variable options. Click here to learn more about our mortgage options.

What is the usual minimum down payment to buy a home?

The most popular options require a minimum of 3.5% down payment, which can be a gift from a family member. There are options available that require less than 3.5% with stricter guidelines.

What are your mortgage rates?

Cove is always highly competitive based on current market conditions. Factors determining the rate for most mortgages include length of loan term, credit score, fixed or variable rate, down payment, and equity in the home.

What is private mortgage insurance (PMI) and what is the cost?

Private mortgage insurance is required on mortgages finance at about 80% Loan to Value (LTV) and protects the lender from loss through default. The cost is based the specified LTV premium multiplied by the loan amount divided by 12.

How long does it normally take to close on a purchase or refinance of a home?

It usually takes 30 to 45 days if fully prepared at the start of the loan process. Click here To learn what’s needed to get started applying for a mortgage.

If you have any other questions about building a strong financial future