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Overview / Commentary
801-456-7000
2480 S 3850 W Suite C
Salt Lake City, UT 84120

Deseret First Credit Union is headquartered in Salt Lake City and is the 8th largest credit union in the state of Utah. It is also the 491st largest credit union in the nation. It was established in 1955 and as of March of 2014, it had grown to 133 employees and 53,841 members. Deseret First Credit Union has a B+ health rating.

Field of Membership Restrictions

Those eligible are members of the Church of Jesus Christ of Latter-Day Saints and their families as well as employees of the Church and affiliated companies and their families. See our site for a detailed list of organozations - See Details

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Reviews (1)

Change In Interest Rates For Checking

As of October 1 2012 the interest rate that DFCU pays on checking accounts changed. Amounts up to $10,000 receive 1% interest (which is great) but any amounts over $10,000 only receive .1%.   I pulled out my money over the $10,000 mark and put it into an ING online checking account which pays .8%.   I am better off but it seems that DFCU might lose access to funds because of this change...  



Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Deseret First Credit Union had $3.21 million in non-current loans and owned real-estate with $31.8 million in equity and loan loss allowances on hand to cover it. This gives Deseret First Credit Union a Texas Ratio of 10.09% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Deseret First Credit Union decreased slightly from 14.18% as of March 31, 2013 to 10.09% as of March 31, 2014, resulting in a positive change of 28.87%.This indicates that the balance sheet and financial strength for Deseret First Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Deseret First Credit Union has increased its total deposits by $23.92 million, resulting in 5.96% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Deseret First Credit Union has shown is excellent.

Capitalization

GRADE:
C-

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Deseret First Credit Union has $456.68 million in assets with $31.8 million in equity, resulting in a capitalization level of 6.96%, which is below average.

Institution Statistics

Overall
NCUA #24708
Year Chartered1955
Employees133
Primary Regulator
Assets and Liabilities
Assets$456.68 million
Loans$319.56 million
Deposits$424.95 million
Equity Capital$27.63 million
Loan Loss Allowance$4.17 million
Unbacked Noncurrent Loans$2.21 million
Real Estate Owned$998,000
Historic Data - March 2013
Assets$430.33 million
Equity Capital$24.37 million
Loan Loss Allowance$6.95 million
Unbacked Noncurrent Loans$2.21 million
Real Estate Owned$1.07 million
Profit Margin - Quarterly
Net Interest Margin0.98%
Return on Assets0.98%
Return on Equity16.14%
Interest Income$3.83 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Deseret First Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Deseret First Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.51%$100k-Premier Share Certificate Account
0.20%--IRA Savings
0.20%--Roth IRA Savings
0.20%--CESA Savings
0.10%$25-Membership Savings
0.10%--Special Savings

Deseret First Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$100k-Jumbo Money Market Account - Standard
0.35%$100k-Jumbo Money Market Account - Loyalty
0.30%$100k-Regular Money Market Account - Standard
0.30%$100k-Regular Money Market Account - Loyalty

Deseret First Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.00%-$10kPlatinum Account - Qualifying
1.00%-$10kFirst Choice Checking - Qualifying
1.00%-$10kPlatinum Rewards Account - Qualifying

Deseret First Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
2.00%$500$75k60+ Month Standard Share Certificate
2.00%$500$75k60+ Month Loyalty Share Certificate
2.00%$75k-Jumbo 60+ Month Standard Share Certificate
2.00%$75k-Jumbo 60+ Month Loyalty Share Certificate
1.25%$500$75k48-59 Month Standard Share Certificate
1.25%$500$75k48-59 Month Loyalty Share Certificate
1.25%$75k-Jumbo 48-59 Month Standard Share Certificate
1.25%$75k-Jumbo 48-59 Month Loyalty Share Certificate
0.95%$500$75k36-47 Month Standard Share Certificate
0.95%$500$75k36-47 Month Loyalty Share Certificate
0.95%$75k-Jumbo 36-47 Month Standard Share Certificate
0.95%$75k-Jumbo 36-47 Month Loyalty Share Certificate
0.70%$500$75k24-35 Month Standard Share Certificate
0.70%$500$75k24-35 Month Loyalty Share Certificate
0.70%$75k-Jumbo 24-35 Month Standard Share Certificate
0.70%$75k-Jumbo 24-35 Month Loyalty Share Certificate
0.45%$500$75k12-23 Month Standard Share Certificate
0.45%$500$75k12-23 Month Loyalty Share Certificate
0.45%$75k-Jumbo 12-23 Month Standard Share Certificate
0.45%$75k-Jumbo 12-23 Month Loyalty Share Certificate
0.25%$500$75k6-11 Month Standard Share Certificate
0.25%$500$75k6-11 Month Loyalty Share Certificate
0.25%$75k-Jumbo 6-11 Month Standard Share Certificate
0.25%$75k-Jumbo 6-11 Month Loyalty Share Certificate
0.15%$500$75k3-5 Month Standard Share Certificate
0.15%$500$75k3-5 Month Loyalty Share Certificate

Deseret First Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
2.00%$500$75k60+ Month Loyalty IRA Share Certificate
2.00%$500$75k60+ Month Standard IRA Share Certificate
2.00%$75k-Jumbo 60+ Month Loyalty IRA Share Certificate
2.00%$75k-Jumbo 60+ Month Standard IRA Share Certificate
1.25%$500$75k48-59 Month Loyalty IRA Share Certificate
1.25%$500$75k48-59 Month Standard IRA Share Certificate
1.25%$75k-Jumbo 48-59 Month Loyalty IRA Share Certificate
1.25%$75k-Jumbo 48-59 Month Standard IRA Share Certificate
0.95%$500$75k36-47 Month Loyalty IRA Share Certificate
0.95%$500$75k36-47 Month Standard IRA Share Certificate
0.95%$75k-Jumbo 36-47 Month Loyalty IRA Share Certificate
0.95%$75k-Jumbo 36-47 Month Standard IRA Share Certificate
0.70%$500$75k24-35 Month Loyalty IRA Share Certificate
0.70%$500$75k24-35 Month Standard IRA Share Certificate
0.70%$75k-Jumbo 24-35 Month Loyalty IRA Share Certificate
0.70%$75k-Jumbo 24-35 Month Standard IRA Share Certificate
0.45%$500$75k12-23 Month Loyalty IRA Share Certificate
0.45%$500$75k12-23 Month Standard IRA Share Certificate
0.45%$75k-Jumbo 12-23 Month Loyalty IRA Share Certificate
0.45%$75k-Jumbo 12-23 Month Standard IRA Share Certificate
0.25%$500$75k6-11 Month Loyalty IRA Share Certificate
0.25%$500$75k6-11 Month Standard IRA Share Certificate
0.25%$75k-Jumbo 6-11 Month Loyalty IRA Share Certificate
0.25%$75k-Jumbo 6-11 Month Standard IRA Share Certificate
0.15%$500$75k3-5 Month Standard IRA Share Certificate
0.15%$500-3-5 Month Loyalty IRA Share Certificate
Locations

Deseret First Credit Union has 11 locations. Click to view all Deseret First Credit Union locations.