Cyprus Credit Union is headquartered in West Jordan and is the 6th largest credit union in the state of Utah. It is also the 315th largest credit union in the nation. It was established in 1935 and as of December of 2018, it had grown to 319 employees and 110,658 members at 20 locations. Cyprus Credit Union has an A+ health rating.
Membership in Cyprus Credit Union is open to anyone living in Utah through a one-time membership fee of $5 to the Community Recreation Association. Membership is also open to residents of Salt Lake County, family of existing members, and employees of Morton Salt International, St. Mark’s Hospital, and other local select employer groups.
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I have always loved Cyprus Credit Union since being a member from a year ago. I have many accounts with them but I mainly use it for there checking account. I love the fact that the money I deposit goes directly in and they don't have to hold checks for days before clearing it, so I can get my money faster to use for when I please. I also love that there are no fees associated with the account. They will hook it to your savings account if needed that way if you ever overdraft your account, it will be used out of that first and won't be a problem. They also send you a text asap if they notice anything suspicious on your account that way you always know what is going on. I would recommend them to anyone and everyone looking for checking accounts.
I used Cyprus when I was in college mostly because it worked out that they had a branch close to where I was living at the time. The customer service reps at the building were always fair and nice. Since it was a smaller credit union, I did notice some personal touches which were appreciated by me as a consumer. Their facilities were also always clean and professional. Those are the pluses, but there are some things I would change. For starters, the online experience is a bit clumsy and doesn't have the slick look that many other bigger companies have. In addition, it seems like some of the interest rates I was offered simply weren't competitive as well which was a downer. In the end, I had to go somewhere that had more services.
|Return on Assets - YTD||1.56%|
|Return on Equity - YTD||13.52%|
|Annual Interest Income||$38.8MM|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$976.0MM$854.5MM|
|Loans||Q4 2018vs Q4 2017||$901.8MM$754.6MM|
|Deposits||Q4 2018vs Q4 2017||$845.2MM$751.0MM|
|Equity Capital||Q4 2018vs Q4 2017||$111.7MM$97.1MM|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$4.9MM$3.9MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$1.4MM$1.6MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$0$0|
Rates for Cyprus Credit Union are currently being reviewed.