Utah First Credit Union Review: Accounts, Loans, Membership

Utah First Credit Union Overview

Utah First Credit Union began in 1935 during the Great Depression. German immigrants living in Salt Lake City founded the Utah German American Federal Credit Union. In 1995, the credit union adopted the name Members First Credit Union, and later Utah C.V. Credit Union. The “C.V.” referenced Chemnitzer Vereinigung (Chemnitzer Association), reflecting its German roots. By 1996, the credit union adopted its current name, Utah First Credit Union. The Chemnitzer Vereinigung became Community Volunteers of Utah (CV) and continues doing community service in the state.

Expansion

After it was founded in 1935, Utah First Credit Union has grown through key milestones and strategic changes in membership and facilities. In 1958, employees of the Thiokol Corporation formed the Thiokol (Utah Division) Employees Credit Union, which later became part of Utah First. Early operations were modest—at one point, the credit union ran out of the basement of the first board president’s home—yet it quickly began building deposits and making loans to members.

Physical growth followed. In 1975, the credit union built a new location at 20 West 700 North, reflecting its increasing membership and service demand. Expansion accelerated in 1986 when Utah First opened membership to the broader community, helping drive long-term growth in members and assets. Today, the credit union’s headquarters is located on South Temple in downtown Salt Lake City.

Utah First Credit Union Products and Services

utahfirst.com | Products

Utah First Credit Union offers a variety of financial products and services to its members, including one savings account, one checking account, and one credit card. It also offers personal and business loans, mortgages, and online banking services.

Utah First Checking Accounts

Personal Checking account

Utah First offers one primary personal checking account designed for everyday spending and bill payments. It includes standard features like a debit card and online/mobile banking.

Utah First Savings Accounts

Utah First Credit Union offers multiple ways to save, including a standard savings account, a money market account for stronger earning potential, and certificates for longer-term savings goals. Deposits are insured by the NCUA up to $250,000.

Savings account

Utah First offers one primary savings account for members. This is the standard account used to build savings over time and is typically the first account members open when joining.

Money market account (MMA)

Utah First Credit Union also offers a money market account (MMA). This option is designed for members who want a savings-style account that can be a better fit for larger balances while still keeping access to their funds.

Certificates (term deposits)

Utah First offers certificates (term deposits) for members who prefer a fixed-term savings option. Certificates are built for goal-based saving where you commit funds for a set period in exchange for a predictable return.

Credit Cards

Utah First Orange Platinum Visa

Utah First offers one primary credit card: the Utah First Orange Platinum Visa. It’s a rewards credit card designed for everyday purchases. Cardholders earn points on spending and can redeem rewards for options like travel, gift cards, or cash back. It’s positioned as a simple, general-use card for members who want one card for day-to-day expenses.

Loans

utahfirst.com | Loans

Personal loans

Utah First Credit Union offers personal loans that provide flexible funding for different needs, often with competitive interest rates. Common uses include weddings, vacations, appliances, home repairs, medical expenses, and education, with terms from 1–5 years.

Debt consolidation loans

Utah First Credit Union offers debt consolidation loans that let you combine multiple debts into one monthly payment, making it easier to manage your finances and reduce the stress of collection calls.

Boat, RV, and motorhome loans

Utah First Credit Union offers financing for recreational purchases, including boats, RVs, and motorhomes.

Auto loans

Utah First Credit Union offers auto loans for new and used vehicles, including refinancing, with terms of up to 8 years.

Mortgages

Conventional mortgages

Utah First Credit Union offers conventional mortgage options with competitive rates and local service.

FHA and VA loans

FHA and VA mortgage options can be a fit for first-time buyers and for borrowers who may not have a large down payment.

Adjustable-rate mortgages

Utah First Credit Union offers adjustable-rate options, which some borrowers consider when rates are rising and they want flexibility.

Lot loans

Lot loans are available for different land-purchase situations, including buying property before building.

Construction loans

Utah First Credit Union offers construction financing for members building a new home.

“Clean Slate” loans

Utah First Credit Union offers “Clean Slate” mortgage options for borrowers with credit challenges, including bankruptcy or short sales.

Home equity line of credit (HELOC)

A home equity line of credit can help fund home improvement projects and other major expenses.

For more information or to apply, you can visit a nearby branch, apply online, or call Utah First Credit Union customer service.

Who Can Join Utah First Credit Union?

utahfirst.com | Membership

To become a member of Utah First Credit Union, you may qualify in the following ways:

• Immediate family member of a current member: If you have a close family member who is already a member, you can typically join as well.
• Join Community Volunteers of Utah: Volunteering with this organization can make you eligible for membership.
• Call or visit a branch: You can contact Utah First directly at 1-800-234-0729 or visit a nearby branch to confirm eligibility and apply.

Conclusion

Founded in 1935, Utah First Credit Union began as the Utah German American Federal Credit Union and has grown over the decades into a community-based credit union serving members across Utah. Today, Utah First keeps things simple with one primary checking account, one primary savings account, and one primary credit card—a straightforward setup that can be easier to compare and manage. Beyond everyday banking, it also offers additional options like money market accounts and certificates, along with personal and business loans and a range of mortgage solutions.

Membership is available through a few clear paths, including being an immediate family member of a current member or becoming eligible through Community Volunteers of Utah (CV). If you’re unsure whether you qualify, Utah First can confirm eligibility and help you apply by phone or at a local branch.