2. Utah First Federal Credit Union

Utah First Federal Credit Union


Overview / Commentary
utahfirst.com
801-320-2600
200 E South Temple
Salt Lake City, UT 84111

Utah First Federal Credit Union is headquartered in Salt Lake City and is the 10th largest credit union in the state of Utah. It is also the 588th largest credit union in the nation. It was established in 1935 and as of September of 2019, it had grown to 83 employees and 23,894 members at 10 locations. Utah First Federal Credit Union's money market rates are 3X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership is open to anyone by becoming a member of Community Volunteers of Utah ($5 annual fee). Joining Community Volunteer can be done on the Credit Union's online application. Membership is also open to employees of nearly 30 Select Employer Groups, and to immediate family members of current Utah First members.
See current membership details

Related Posts

Utah First Drops Term Deposit Rates Rather Significantly - 8/7/2019

Fairly significant Term Deposit rate declines for Utah First. Smallest reduction is 20 bps, largest reduction is a whopping 65 bps! 12 Month Term Deposit 1.75%(Was 2.40%) 24 Month Term Deposit 2.00%(Was 2.50%) 36 Month Term Deposit 2.15%(Was 2.60%) 48 Month Term Deposit 2.30%(Was 2.65%) 60 Month Term Deposit 2.50%(Was 2.70%)

Utah First CU Drops Most Of Their Term Deposit Rates Again - 7/5/2019

Utah First CU has dropped several term deposit rates again: 12 Month Term Deposit 2.40%(Was 2.50%) 24 Month Term Deposit 2.50%(Was 2.60%) 36 Month Term Deposit 2.60%(Was 2.70%) 48 Month Term Deposit 2.65%(Was 2.80%) 60 Month Term Deposit 2.70%(Was 2.90%)

Utah First Joins The Rate Drop Parade - 6/14/2019

Utah First CU has joined the parade and reduced several term deposit rates: 24 Month Term Deposit 2.60%(Was 2.75%) 36 Month Term Deposit 2.70%(Was 2.90%) 48 Month Term Deposit 2.80%(Was 3.00%) 60 Month Term Deposit 2.90%(Was 3.10%)

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Reviews (5)

Great Small Credit Union

Posted by: srog385 | Mar 27, 2019

I have been with Utah First for almost two years now. They offer personalized over the top service to their members.Whenever I had issues, they were solved in a quick fashion and they really want to help their members suceed. No other credit union I've had beats customer service quality. The one thing I dislike is that their website can be a bit confusing at times, and its very basic.

6

Quite Possibly The Easiest Out-Of-State Certificate Opening Ever

Posted by: BankReviewer | Feb 23, 2018

Extremely easy to open a certificate. They have methods in place to make secure verification and document exchange fast and easy. Very friendly service from Alli. Very competitive savings certificate rates at the time of this review. Highly recommend.

13

Great Customer Service And Support But Other Issues

Posted by: Spring | Jan 30, 2019

Customer Service woman was very, very helpful in getting the CD opened at a very competitive rate, 6 month penalty on a 5 year CD. You couldn't ask for better follow up and response! A couple of things came up though. On the funding page while filling out the online application there was a glitch in the program and I had to have customer service open up the CD manually. The online application has a problem and I hope they will fix as it caused a lot of extra work and agitation. I had to fund via bank wire since the ACH pull only goes up to $100.00. I somehow thought I could pull the whole amount out of my other bank after discussing it with someone there on the phone.
Overall, good customer service, rates and early withdrawal penalty.

5

Not SECURE

Posted by: Maxman | Dec 18, 2019

Recently applied for new account. I found as a previous reviewer did that UTAH FIRST attach all of the account information in an UNSECURED email confirming the account application, which basically voids all attempts to secure the personal account information. It is my intent to bring this matter up with the CEO as all of the other factors about the financial strength of this institution and customer service convey a different picture than that of neglectful security.

1

Pleasant But Not Secure

Posted by: Gail | Apr 4, 2018

The bank has no real security policies in place and treats documents with personal information like SS numbers, birth dates and account numbers cavalierly with no regard for identity protection by sending them in plain text through email instead of through encrypted and secure channels. Be advised. Of course, the bank could start training its employees to use proper security and to require it as a bank policy, but there is no evidence of this yet.

21


Health
A

Data as of Q3 2019

Learn why bank health matters

Health Grade Components

Overall
NCUA #528
Year Chartered1935
Employees83
Primary Regulator
Profit Margin
Return on Assets - YTD1.45%
Return on Equity - YTD13.43%
Annual Interest Income$17.8MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$493.7MM$412.1MM
LoansQ3 2019vs Q3 2018$421.9MM$355.8MM
DepositsQ3 2019vs Q3 2018$419.6MM$341.6MM
Equity CapitalQ3 2019vs Q3 2018$52.3MM$45.2MM
Loan Loss AllowanceQ3 2019vs Q3 2018$3.5MM$3.4MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$1.5MM$628.00K
Real Estate OwnedQ3 2019vs Q3 2018$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Utah First Federal 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.

Utah First Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$2k*-Savings
OTHER TIERS: 0.10% → $50 - $2k
0.25%--IRA

Utah First Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$1m*-Money Market
OTHER TIERS: 0.50% → $2k - $25k | 0.75% → $25k - $100k | 1.00% → $100k - $250k | 1.25% → $250k - $1m

Utah First Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$1m*-Dividend Checking
OTHER TIERS: 0.25% → $2k - $100k | 0.50% → $100k - $250k | 0.75% → $250k - $1m

Utah First Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%$500-60 Month CD
2.20%$500-48 Month CD
2.10%$500-36 Month CD
2.00%$500-24 Month CD
1.90%$500-12 Month CD
1.50%$500-6 Month CD

Utah First Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%$500-60 Month IRA
2.20%$500-48 Month IRA
2.10%$500-36 Month IRA
2.00%$500-24 Month IRA
1.90%$500-12 Month IRA
1.50%$500-6 Month IRA
Locations


Cities: American Fork, Farmington, Midvale, Provo, Salt Lake City, Sandy, South Jordan, Woods Cross

American Fork Branches
Branch Office616 W Main StAmerican Fork, UT 84003

Farmington Branches
Branch Office1173 Shepard Creek PkwyFarmington, UT 84025

Midvale Branches
Branch Office6935 S 900 EMidvale, UT 84047

Provo Branches
Branch Office310 N 100 WProvo, UT 84601

Salt Lake City Branches
Branch Office200 E South TempleSalt Lake City, UT 84111
Branch Office1760 W 2100 SSalt Lake City, UT 84127
Branch Office2641 S 3270 W Suite BSalt Lake City, UT 84119

Sandy Branches
Branch Office9213 S Quarry Bend DrSandy, UT 84094

South Jordan Branches
Branch Office3642 W 11400 SSouth Jordan, UT 84095

Woods Cross Branches
Branch Office1520 S 500 WWoods Cross, UT 84010-7414

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