Before you start

Passport, with visa and I-94 if applicable
A Kentucky residential address
An SSN or ITIN if you have one; a passport number if not
An opening deposit, which varies by institution

Step-by-step

1
Open a checking account in branch
Bring your passport, Kentucky address and SSN or ITIN if issued. Federal Customer Identification Program rules explicitly permit a passport number and country of issuance instead of a taxpayer number for non-US persons.
In personWho: YouWeek 1
2
Mention a pending ITIN if you have no SSN
Banks may open accounts for people who have applied for but not yet received an ITIN. File IRS Form W-7 and keep the receipt.
In personWho: You
3
Consider a Kentucky credit union alongside a national bank
Louisville has a deep credit-union sector rooted in the manufacturing plants, the hospitals and the airport, plus long-established local banks. Both tend to be more flexible on thin credit files and more comfortable with older housing stock than a national app is.
In personWho: You
4
Set up direct deposit
Give payroll your routing and account numbers. Direct deposit waives the monthly maintenance fee on most US checking accounts.
Via employerWho: You and your employer
5
Open a secured credit card in month one
Post a deposit, typically around $500, and get a card with a matching limit that reports to the credit bureaus. Age of history matters as much as behaviour, so the clock is the thing you are buying — and in a market this affordable, that clock is what makes buying possible in year two or three.
OnlineWho: YouMonth 1
6
If you are thinking of buying, check which city the parcel is in
Louisville Metro's property tax is one rate, but a parcel inside one of the ~80 home rule cities also carries that city's own property tax and possibly its own occupational fee. Look the parcel up with the Jefferson County Property Valuation Administrator before you offer, and ask the lender to quote the actual combined rate rather than a Metro-wide average.
OnlineWho: You
7
Ask about the age of the house and its systems
A large part of Louisville's affordable stock is pre-war shotgun and camelback houses with knob-and-tube legacies, original plaster and gravity-fed heating. That is not a reason to avoid them, but it is a reason to use a local lender and a local inspector who has seen a hundred of them rather than a national one who has not.
In personWho: You

Documents you’ll need

Passport, with country of issuance serving as the identifying number if you have no SSN or ITIN
Visa and I-94, where applicable
SSN card or ITIN letter, if issued
Proof of a Kentucky address
Employer offer letter, accepted by some institutions as supporting evidence

Things most newcomers don’t know

Federal rules let a bank take your passport instead of an SSN.

The Customer Identification Program rule accepts a passport number and country of issuance for non-US persons. Branch staff often do not know this. Escalate politely, or try a credit union, before concluding you must wait for the SSN.

Source: FFIEC BSA/AML Examination Manual — Customer Identification Program

Here the credit clock is worth more than usual, because buying is actually reachable.

In an expensive coastal market a newcomer's credit file matters mostly for a car loan and a lease. In Louisville, where median prices are among the lowest of any large US metro, two or three years of clean history genuinely converts into a mortgage. Starting the file in month one rather than year two is worth real money here.

Source: community-reported

Two property tax bills are possible on one house.

Louisville Metro levies across the whole county, and the ~80 home rule cities levy on top within their boundaries. An address in Anchorage, St Matthews or Jeffersontown carries both. It is a modest amount relative to coastal states but it is invisible in an online estimate — check the parcel with the PVA.

Source: Jefferson County Property Valuation Administrator

Carrying a balance builds interest, not credit.

Scores respond to on-time payment and low utilisation, not to interest paid. Paying in full each month builds history identically and saves a rate above 20% APR.

Source: Consumer Financial Protection Bureau — credit cards

Common mistakes to avoid

Waiting for an SSN before trying to open an account, when a passport is often enough.
Assuming Metro's property tax rate is the whole bill on a parcel inside a home rule city.
Using a national lender and a national inspector on a pre-war shotgun house.
Delaying a secured card until credit is actually needed, in a market where it converts into a mortgage quickly.
Paying an avoidable monthly maintenance fee by never setting up direct deposit.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.