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                               POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that the undersigned director and/or
officer of Columbia Financial of Kentucky, Inc. ("CFKY"), and/or Columbia
Federal Savings Bank ("Columbia Federal"), hereby constitutes and appoints
Robert V. Lynch or Carol S. Margrave as his or her true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for him or her and in his or her name, place and stead, in any
and all capacities to (i) sign the Registration Statement on Form S-1 for the
registration of certain common shares of CFKY, to be filed by CFKY with the
Securities and Exchange Commission, and any amendments thereto, and to file the
same, with all exhibits, and other documents in connection therewith with the
Securities and Exchange Commission; and (ii) sign the Application for
Conversion on Form AC for the conversion of Columbia Federal from mutual to
stock form, to be filed with the Office of Thrift Supervision, and any
amendments thereto, and to file the same, with all exhibits and other documents
in connection therewith with the Office of Thrift Supervision; granting unto
said attorneys-in-fact and agents or substitutes full power and authority to do
and perform each and every thing requisite and necessary to be done in and
about the premises, as fully to all intents and purposes as he or she might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents or substitutes may lawfully do or cause to be done
by virtue hereof.

     This Power of Attorney shall be valid until such time as it is revoked by
the undersigned in writing.

     IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as of
this 29th day of January, 1998.


                                                /s/ Geraldine Zembrodt
                                                ----------------------   
                                                    Geraldine Zembrodt
                                                    Board Member