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 586th largest credit union in the nation. It was established in 1935 and as of December of 2019, it had grown to 89 employees and 23,942 members at 10 locations. Utah First Federal Credit Union's money market rates are 14% higher than 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
7/5 - Utah First CU Drops Most Of Their Term Deposit Rates Again
6/14 - Utah First Joins The Rate Drop Parade
3/28 - Utah First Term Deposit Rate Reductions
Great Small Credit Union
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.
Quite Possibly The Easiest Out-Of-State Certificate Opening Ever
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.
Great Customer Service And Support But Other Issues
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.
Not SECURE
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.
Pleasant But Not Secure
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.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 528 |
| Year Chartered | 1935 |
| Employees | 89 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.36% |
| Return on Equity - YTD | 12.6% |
| Annual Interest Income | $23.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $501.7MM$406.8MM |
| Loans | Q4 2019vs Q4 2018 | $431.1MM$361.1MM |
| Deposits | Q4 2019vs Q4 2018 | $427.8MM$335.5MM |
| Equity Capital | Q4 2019vs Q4 2018 | $53.8MM$47.1MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $3.6MM$3.4MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $2.4MM$504.00K |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$0 |