Bank of Utah Review: History, Accounts, & Membership

Bank of Utah: Overview

Bank of Utah was established in 1952 in Ogden, Utah, and its headquarters remain in that city. Over nearly 70 years, Bank of Utah has acquired smaller Utah banks, allowing it to expand into new communities. In 1974, it acquired Bank of Ben Lomond, and in 1978 it purchased Bank of Brigham City and Bank of Northern Utah. The bank is listed as the third largest bank in the state, behind Zions Bank and Cache Valley Bank.

Consumer Products and Services

bankofutah.com | Products and Services

Bank of Utah offers a broad lineup of products and services for both individuals and businesses in Utah, including checking accounts, savings accounts, and CDs. For borrowing needs, it supports common goals like auto loans, unsecured personal loans, secured loans backed by savings or CDs, RV loans, HELOCs, and mortgage options for buying, refinancing, or building.

Beyond everyday banking, Bank of Utah is also widely recognized for Corporate Trust services that serve clients across the U.S., especially in aircraft owner trusts. The bank states it is one of the largest providers of aircraft owner trusts in the world, with over 2,000 aircraft held in owner trusts on the FAA registry (plus additional aircraft held via security trusts), which is a big reason it’s well-known nationally in the corporate trust space. 

Bank of Utah Checking Accounts

Easy Checking

A simple, everyday checking account built for basic banking needs. It’s designed for people who want straightforward access to spending money, routine payments, and standard account features without anything complicated.

Evergreen Checking

A checking option designed for customers who want a more “premium” experience. It’s typically positioned for people who maintain stronger account relationships and want a checking account that feels a step up from the basic option.

Student Checking (Ages 16–26)

A student-focused checking account for younger members who want to manage money while in school or early in their careers. It’s built to be easy to use and student-friendly, with a simpler setup than many standard checking accounts.

Thrive Checking

A “fresh start” checking account designed for people rebuilding their banking history. It’s intended for those who want to get back into the banking system, manage money responsibly, and move forward after past account challenges. To open this account, you can’t owe money to another bank or credit union.

Savings Accounts

Bank of Utah’s savings accounts are built around a consistent set of everyday features, so most customers get a similar experience no matter which savings option they choose. The bank highlights that you can manage savings in-branch and digitally, earn interest, make mobile deposits, track savings activity through My Money Hub, set up automatic recurring transfers from checking to savings, and choose paperless e-statements that stay on file for 7 years and are free to access if needed.

I Save (Savings)

A general savings account meant for everyday saving goals, with a simple setup and standard access to your money. It’s positioned as the bank’s primary “regular savings” option for most customers. 

Children’s I Save

A kids savings account for children under 18, designed to help families build savings habits early. It automatically converts to a regular I Save account when the child turns 18. 

My Money Market

A higher-yield style savings option (money market account or MMA) that’s typically used by customers who want stronger earning potential while still keeping access to funds.

Certificates of Deposit (CDs)

Bank of Utah’s CDs are FDIC-insured deposit products, which means your money is protected up to $250,000 per depositor, per FDIC-insured bank, per ownership category (standard FDIC coverage).  If you plan to keep more than $250,000 in CDs, Bank of Utah also offers CDARS, which is designed to help customers stay within FDIC insurance limits by spreading deposits across multiple banks while working through Bank of Utah.

3-Month CD

A short-term certificate of deposit designed for savers who want to lock in a guaranteed return for a brief period and keep a near-term timeline. Bank of Utah lists this as one of its featured CD terms. 

6-Month CD

A mid-short option that’s often used when you want a little more time than a 3-month term, but still want your money back within the year. Also listed as a featured CD term. 

1-Year CD

A classic “set it and forget it” CD term for people saving toward a goal within the next year, with the predictability of a fixed term and rate. Bank of Utah includes this as a featured CD term. 

2-Year CD

A longer-term CD option for customers who don’t need immediate access to their funds and want a longer lock-in period. 

3-Year CD

A longer-term CD term for more patient savers who want to commit funds for a multi-year goal while keeping the simplicity of a standard CD structure. 

Super Saver CD

A CD built for people who want the structure of a traditional CD but still want to keep adding money during the term. Bank of Utah describes this as a unique feature of the Super Saver CD compared to standard CDs.

Bank of Utah Credit Cards

bankofutah.com | Credit Cards

Bank of Utah credit cards are built to match different goals—earning rewards, maximizing cash back, saving on interest, or building credit. These Visa cards are offered through Bank of Utah’s credit card partner, Elan Financial Services, and the application experience routes through Elan’s hosted platform.

ZERO+ Card

A hybrid card designed for people who want a long intro rate while still earning rewards. It combines a low introductory rate on purchases and balance transfers with cash-back perks and flexible redemption options.

Everyday Rewards+ Card

A points card built for people who want rewards for daily spending. It’s designed to earn more in common categories like dining and groceries while still working well as an all-around rewards option.

Max Cash Preferred Card

A cash-back card built for people who want to maximize cash back based on how they spend. It focuses on stronger earning in select categories.

Travel Rewards+ Card

A travel-oriented rewards card for people who want points they can use toward trips. It’s designed for travel redemptions through the rewards platform.

Reserve Rewards+ Card

A higher-tier rewards card for people who want a more premium travel-and-rewards experience. It’s often paired with added benefits compared to basic rewards cards.

College Real Rewards Card (Student)

A student-friendly rewards card for students who want to build credit while still earning points on eligible purchases.

Max Cash Secured Card

A secured card option for people who want to build or rebuild credit while still earning cash back in chosen categories.

Secured Card

A basic secured credit card for people who want a straightforward path to establish or repair credit through responsible use.

Loans

bankofutah.com | Loans

Bank of Utah groups its personal borrowing options under Consumer & Personal Loans, with applications handled through its online loan application and supported by local loan officers. 

Auto Loans

Financing for new or used vehicles, plus options to refinance an existing auto loan or cash out vehicle equity. 

Home Equity Line of Credit (HELOC)

A revolving line of credit that lets you tap into your home’s equity for things like renovations, debt payoff, or other major expenses. 

Recreational Vehicle (RV) Loans

Loans for a wide range of recreational vehicles—motorhomes, trailers, boats, motorcycles, ATVs, snowmobiles—plus refinance options and the ability to access RV equity. 

CD- and Savings-Secured Loans

A secured loan that uses your CD or savings as collateral, allowing you to borrow while your deposit can continue earning interest during the life of the loan. 

Unsecured Loans

Personal loans that don’t require collateral and are generally used for purchases, unexpected expenses, or debt consolidation, with approval based on credit and income factors. 

Student Loans

Student lending offered through Bank of Utah’s partnership with College Ave, with options that can cover different education paths (undergrad, graduate, parent, refinance).

Mortgages

Purchase & Refinance

Mortgages designed to help you buy a home or refinance an existing one, with options meant to match different borrower needs and timelines. 

Construction Loans

Loans for building a new home, including support for both contractor-built projects and (in some cases) owner-builders, with construction-focused underwriting and timing. 

Lot Loans

Financing for an improved lot if you plan to build a primary residence on the land within the loan term. 

HELOC

A home equity line of credit that uses your home’s equity to provide a revolving credit line for goals like renovations, large expenses, or flexibility over time. 

Reverse Mortgage (HECM)

A reverse mortgage option (Home Equity Conversion Mortgage-HECM) for eligible homeowners, designed to convert home equity into cash flow or funds—commonly used for refinancing or purchasing a home later in life. 

Investments and Wealth Management

Bank of Utah’s investments offering sits inside its broader Wealth Management and is built around two tracks: investment management (how your money is invested) and trust/fiduciary administration (how assets are managed and distributed under legal instructions). Their trust team emphasizes objectivity and fiduciary standards—meaning they administer trusts according to the terms of the trust and required guidelines—while also handling the operational side like record-keeping and assistance with tax preparation. 

On the investment side, Bank of Utah offers investment management solutions and also highlights self-directed IRA opportunities for clients who want more control over what they hold inside a retirement account. Their wealth management approach is positioned as collaborative—private bankers and trust officers working together to deliver a tailored plan based on goals like retirement planning and legacy planning. (Standard reminder on this section: the bank notes that non-deposit investment products are not FDIC insured.)

Conclusion

Bank of Utah is a long-standing Utah institution founded in 1952 and headquartered in Ogden, with decades of growth driven in part by strategic acquisitions such as Bank of Ben Lomond (1974), Bank of Brigham City and Bank of Northern Utah (1978), First Commerce Bank (1999), and American Bank of Commerce/AmBank (2018). That history reflects a bank that has expanded across key Utah communities while keeping a strong local presence.

Today, Bank of Utah offers a full range of banking products and services—from personal checking, savings, CDs, credit cards, and consumer loans to home lending options like purchase/refinance, construction, lot loans, HELOCs, and reverse mortgages. Beyond traditional banking, it’s also recognized nationally for corporate trust services, and it provides wealth management and trust services for clients focused on investing, retirement planning, and legacy planning.