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Overview / Commentary
3675 S 900 E
Salt Lake City, UT 84106

Granite Credit Union is headquartered in Salt Lake City and is the 9th largest credit union in the state of Utah. It is also the 624th largest credit union in the nation. It was established in 1986 and as of December of 2013, it had grown to 91 employees and 30,322 members. Granite Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is available to anyone who lives, works, attends school, volunteers or worships in Salt Lake County. - See Details

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Data for Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Granite Credit Union had $2.87 million in non-current loans and owned real-estate with $33.36 million in equity and loan loss allowances on hand to cover it. This gives Granite Credit Union a Texas Ratio of 8.60% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Granite Credit Union decreased dramatically from 12.66% as of December 31, 2012 to 8.60% as of December 31, 2013, resulting in a positive change of 32.10%.This indicates that the balance sheet and financial strength for Granite Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Granite Credit Union has decreased its total deposits by -$2.26 million, resulting in -0.74% 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 Granite Credit Union has shown is average.



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. Granite Credit Union has $338.46 million in assets with $33.36 million in equity, resulting in a capitalization level of 9.86%, which is above average.

Institution Statistics

NCUA #24726
Year Chartered1986
Primary Regulator
Assets and Liabilities
Assets$338.46 million
Loans$212.35 million
Deposits$304.79 million
Equity Capital$29.84 million
Loan Loss Allowance$3.52 million
Unbacked Noncurrent Loans$859,000
Real Estate Owned$2.01 million
Historic Data - December 2012
Assets$340.40 million
Equity Capital$30.10 million
Loan Loss Allowance$4.23 million
Unbacked Noncurrent Loans$859,000
Real Estate Owned$2.49 million
Profit Margin - Quarterly
Net Interest Margin3.75%
Return on Assets0.55%
Return on Equity6.28%
Interest Income$10.42 million
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Granite Credit Union Savings Account Rates

0.25%$20k-IRA Shares
0.10%--Regular Savings
0.10%--Christmas Club

Granite Credit Union Money Market Rates

0.25%$75k-Money Market

Granite Credit Union CD Rates

1.86%$1k-60 Month CD
1.16%$1k-48 Month CD
0.90%$1k-36 Month CD
0.75%$1k-24 Month CD
0.75%$500-18 Month Alumni CD
0.50%$1k-12 Month CD
0.25%$1k-6 Month CD

Granite Credit Union Locations
Branch Office1283 E Zenith AveSalt Lake City, UT 84106-4802
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