Deseret First Credit Union


Overview / Commentary
801-456-7000
3999 W Parkway Blvd
West Valley City, UT 84120

Deseret First Credit Union is headquartered in West Valley City and is the 7th largest credit union in the state of Utah. It is also the 410th largest credit union in the nation. It was established in 1955 and as of September of 2024, it had grown to 215 employees and 80,848 members at 12 locations. Deseret First Credit Union's money market rates are 9X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership to Deseret First Credit Union is open to those who are members of the Church of Jesus Christ of Latter-Day Saints and their families, as well as employees of the Church. Membership is also open to select companies and organizations. (Membership requirements are listed in the credit union's online application)
See current membership details

Reviews (4)

Best Local 2Nd Mortgage Dept. Available

Posted by: |

I have had two home equity loans with DFCU. They were fair with the fees associated with closing the loan and the agents I worked with knew the process to get the loan finalized. There was only one glitch in the initial system when first payment was made, but now transfers are predictable and the updated payment screen works well now. DFCU is honest and up front about their business and they have helped me save on loan interest costs. I highly recommend them over any other local Utah CUs.

Been Banking With Them For 4 Years Now

Posted by: |

Great credit union, other than the bumpy start on setting up my first initial account due to missed emails it has been great. They really care about the member and try their best to help, I know they are pushing out new items a lot and trying to catch up with some competitors on stuff. Overall I have been impressed with the technology and all that they do. I moved from Mountain America CU and Chase bank to them and they hold up their own. If anyone complains about the tech they use for banking it makes no sense to me since it is the same program and provider that MACU uses, there literally is no difference. Just a common misconception, I had the same thought when I first joined but have been pleasantly surprised. I have moved all of my loans over Auto and Mortgage and CC and had nothing but the best experience on all of those.

Worst Customer Service

Posted by: |

Worst customer service. We have a HELOC that increased apparently when the rate change started rising in 2022; what we didn't know b/c we had auto payments set up as a set amount is that we were falling behind, which looks like a late, even though payment was never skipped.

In November, they called, I answered, and within 30 minutes, fixed the issue, not realizing the domino effect the reported "late' would have when trying to obtain a loan for another home we wanted to buy. We had to remove our house from the market and forgo a new home and job opportunity b/c of the reported late.

When we voiced our concerns and tried to work with several departments, they "claim" that they emailed (no emails chain at all - looked in deleted and spam), texted (no texts either) and called, and left VMs, yet I have *no* VM's at all. When we asked them to share the proof of this above, they essentially "ghosted" our request. Yet...I answered the phone when they called in November of 2022 but ignored all other calls?

Dishonest, Sketchy And Awful Customer Service

Posted by: |

I’ve banked with Deseret first credit Union for almost 7 years. I don’t know why I haven’t left sooner because they are without a shadow of a doubt the most dishonest and difficult financial institution I have ever worked with. I’ve had multiple fees on my car loan I have had to have fixed that would continue to show up after every few months. It took me going to a much higher up and threatening to sue to get them to officially stop adding it. They’d admit it wasn’t supposed to be there, apologize then a few months later the fees would show up again!

The car loan isn’t the only one. Multiple times on my credit card and my checking account I have had different charges or fees that were wrong. I wish I could write it all but it would take too long.
But overall I realized the bank didn’t make me feel that my finances were secure. Not because it seemed unsecure from the outside but from the inside.

They also have awful customer service that is extremely difficult to get ahold of and when they answer it’s a call center. You can’t talk to anyone at the branch and so the typical call center stereotype is filled with people who don’t care too much to figure things out for you.

I have 3 others I know who have had similar issues with them. After 2 car loans, a credit card, a personal loan and a checking and savings account with them, I am officially leaving. It’s taking me far too long but it’s been hard with having so much of my bills with them.
For an institution that is supposed to be based off of serving the LDS community, they sure are not very ethical. I will never recommend them to anyone and I am glad to leave them and go back to an old bank of mine that never made me feel nervous about whether they were being honest with me or not.

I am filing a complaint with the district attorneys office and hoping to have them looked into. It’s long overdue



Health
B+

Health Grade Components

Overall
NCUA #24708
Year Chartered1955
Employees215
Primary Regulator
Profit Margin
Return on Assets - YTD0.72%
Return on Equity - YTD9.01%
Annual Interest Income$43.3MM
Assets and Liabilities
AssetsQ3 2024vs Q3 2023$1.12B$1.06B
LoansQ3 2024vs Q3 2023$954.2MM$895.4MM
DepositsQ3 2024vs Q3 2023$1.01B$957.9MM
Equity CapitalQ3 2024vs Q3 2023$89MM$80.4MM
Loan Loss AllowanceQ3 2024vs Q3 2023$4.6MM$3.8MM
Unbacked Noncurrent LoansQ3 2024vs Q3 2023$6.5MM$2.2MM
Real Estate OwnedQ3 2024vs Q3 2023$0$0
Rates
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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 cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Deseret First Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.15%*$0$15kMission Savings w/Loyalty
OTHER TIERS: 0.05% $15k+
3.65%*$0$15kMission Savings Fund
OTHER TIERS: 0.05% $15k+
0.20%$0-IRA Savings
0.05%$30-Membership Savings
0.05%$0-Special Savings
0.05%$0-Business Membership Savings
0.05%$0-Business Special Savings

Deseret First Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.15%*$1m*-Regular Money Market Account - Standard
OTHER TIERS: 0.25% $0 - $2.5k | 1.25% $2.5k - $20k | 2.15% $20k - $100k | 2.90% $100k - $250k | 3.75% $250k - $500k | 3.85% $500k - $1m
4.15%*$1m*-Regular Money Market Account - Loyalty
OTHER TIERS: 0.25% $0 - $2.5k | 1.25% $2.5k - $20k | 2.15% $20k - $100k | 2.90% $100k - $250k | 3.75% $250k - $500k | 3.85% $500k - $1m
4.15%*$1m*-Business Money Market Account
OTHER TIERS: 0.25% $0 - $2.5k | 1.25% $2.5k - $20k | 2.15% $20k - $100k | 2.90% $100k - $250k | 3.75% $250k - $500k | 3.85% $500k - $1m

Deseret First Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$0$10kFirst Choice Platinum
OTHER TIERS: 0.05% $10k+
0.50%*$0$10kFirst Choice Interest
OTHER TIERS: 0.05% $10k+
0.50%*$0$10kFirst Choice Platinum Rewards
OTHER TIERS: 0.05% $10k+

Deseret First Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%$500-18 Month Standard Share Certificate Special
4.50%$500-18 Month Loyalty Share Certificate Special
4.40%$500-6 Month Standard Share Certificate
4.40%$500-6 Month Loyalty Share Certificate
4.40%$75k-6 Month Jumbo Standard Share Certificate
4.40%$75k-6 Month Jumbo Loyalty Share Certificate
4.40%$75k-Business Jumbo 6 Month Share Certificate
4.40%$500-Business 6 Month Share Certificate
4.35%$500-12 Month Standard Share Certificate
4.35%$500-12 Month Loyalty Share Certificate
4.35%$75k-12 Month Jumbo Standard Share Certificate
4.35%$75k-12 Month Jumbo Loyalty Share Certificate
4.35%$75k-Business 12 Jumbo Month Share Certificate
4.35%$500-Business 12 Month Share Certificate
4.25%$500-60 Month Standard Share Certificate
4.25%$500-60 Month Loyalty Share Certificate
4.25%$75k-60 Month Jumbo Standard Share Certificate
4.25%$75k-60 Month Jumbo Loyalty Share Certificate
4.25%$75k-Business Jumbo 60 Month Share Certificate
4.25%$500-Business 60 Month Share Certificate
4.05%$500-48 Month Standard Share Certificate
4.05%$500-48 Month Loyalty Share Certificate
4.05%$75k-48 Month Jumbo Standard Share Certificate
4.05%$75k-48 Month Jumbo Loyalty Share Certificate
4.05%$75k-Business 48 Jumbo Month Share Certificate
4.05%$500-Business 48 Month Share Certificate
4.00%$500-24 Month Standard Share Certificate
4.00%$500-36 Month Standard Share Certificate
4.00%$500-24 Month Loyalty Share Certificate
4.00%$500-36 Month Loyalty Share Certificate
4.00%$75k-24 Month Jumbo Standard Share Certificate
4.00%$75k-36 Month Jumbo Standard Share Certificate
4.00%$75k-24 Month Jumbo Loyalty Share Certificate
4.00%$75k-36 Month Jumbo Loyalty Share Certificate
4.00%$75k-Business 24 Jumbo Month Share Certificate
4.00%$75k-Business 36 Jumbo Month Share Certificate
4.00%$500-Business 24 Month Share Certificate
4.00%$500-Business 36 Month Share Certificate
0.05%$500-3 Month Standard Share Certificate
0.05%$500-3 Month Loyalty Share Certificate
0.05%$500-Business 3 Month Share Certificate

Deseret First Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%$500-18 Month Standard IRA Special
4.50%$500-18 Month Loyalty IRA Special
4.40%$500-6 Month Loyalty IRA
4.40%$500-6 Month Standard IRA
4.40%$75k-6 Month Jumbo Loyalty IRA
4.40%$75k-6 Month Jumbo Standard IRA
4.35%$500-12 Month Loyalty IRA
4.35%$500-12 Month Standard IRA
4.35%$75k-12 Month Jumbo Loyalty IRA
4.35%$75k-12 Month Jumbo Standard IRA
4.25%$500-60+ Month Loyalty IRA
4.25%$500-60+ Month Standard IRA
4.25%$75k-60+ Month Jumbo Loyalty IRA
4.25%$75k-60+ Month Jumbo Standard IRA
4.05%$500-48 Month Loyalty IRA
4.05%$500-48 Month Standard IRA
4.05%$75k-48 Month Jumbo Loyalty IRA
4.05%$75k-48 Month Jumbo Standard IRA
4.00%$500-24 Month Loyalty IRA
4.00%$500-24 Month Standard IRA
4.00%$75k-24 Month Jumbo Loyalty IRA
4.00%$75k-24 Month Jumbo Standard IRA
4.00%$500-36 Month Loyalty IRA
4.00%$500-36 Month Standard IRA
4.00%$75k-36 Month Jumbo Loyalty IRA
4.00%$75k-36 Month Jumbo Standard IRA
0.05%$500-3 Month Standard IRA
0.05%$500-3 Month Loyalty IRA
Locations

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