Granite Credit Union: Accounts, Credit Cards, Loans, and Membership

Granite Credit Union Overview

Granite Credit Union was founded in 1935 by a group of educators who came together to organize a credit union for teachers in the Granite School District. Since then, it has grown from a small, teacher-focused organization into a full-service, member-owned financial institution serving nearly 40,000 members across 10 Utah counties. Headquartered in Millcreek, Granite manages over $900 million in assets and operates 12 branches, guided by a “people helping people” philosophy that prioritizes financial inclusion—especially for underserved communities, including access to ITIN lending.

Expansion

After it was founded in 1935, Granite Teachers Credit Union was open exclusively to teachers and administrative staff of the Granite School District. After its merger with Murray School District Credit Union, it adopted its current name, Granite Credit Union. It later merged with Salt Lake Schools Credit Union in 2009. In 2004, the credit union became a federal credit union, which expanded its field of membership even further. Today, Granite serves nearly 40,000 members and manages over $900 million in assets.

In 2023, Granite Credit Union received the Juntos Avanzamos designation, awarded to credit unions in the U.S. that have demonstrated a commitment to the financial inclusion of the Latino community. In 2024, in partnership with Rancho Markets, Granite Credit Union opened its first fully Spanish-language branch in Rose Park, Salt Lake City. This new branch offers financial services tailored to the Hispanic community, such as ITIN loans and everyday banking accounts.

Granite Credit Union Products and Services

Granite Credit Union offers checking and savings account programs, money market accounts (MMA), IRAs, and CD accounts. It also provides Visa debit cards, wire transfers, traveler’s checks, and insurance and investment programs. The credit union also offers auto, personal, student, mortgage, and home equity loans. In addition, it provides business solutions such as payment processing, educational services, and electronic services like bill pay.

Granite Credit Union Checking Accounts

Granite Credit Union offers a small lineup of checking accounts designed for everyday spending, simpler account management, and (for qualifying balances) dividend earnings. Below is a high-level overview—full details will be in the Granite Credit Union Checking Accounts post.

Basic Spend

A straightforward everyday checking account designed for basic banking needs like spending, deposits, and digital access.

Simple Spend

A simplified checking option built to help members avoid common checking issues, with a focus on keeping day-to-day banking easy to manage.

Dividend+

A checking account designed for members who maintain higher balances and want the potential to earn dividends (typically tied to keeping at least $5,000 in the account).

Savings Accounts at Granite Credit Union

Granite Credit Union offers several savings options, from basic saving to higher-earning accounts, youth accounts, and certificates for longer-term goals. Account balances are insured by National Credit Union Administration (NCUA) up to $250,000. Below is a high-level overview—full details will be in the Granite Credit Union Savings Accounts post.

Savings Account

A standard savings account designed for everyday saving, with dividends and flexible access to deposit or withdraw funds as needed.

Money Market Account

A higher-earning savings-style option compared to a traditional savings account, designed to help members earn more while keeping access to their funds.

Always Insured – ICS Money Market

A money market option designed for members who keep larger balances and want expanded deposit insurance coverage through the ICS program.

Youth Accounts

Granite offers youth options designed to help kids and teens build smart money habits early.

• Smart Start Account (Ages 0–11): A starter account designed for children to begin saving and learning basic money habits.
• On Course Teen Spend Account (Ages 12–17): A teen-focused account designed to help teens practice spending and money management with digital access.
• First-Step Savings Certificate (Ages 0–17): A youth certificate option designed to help kids and teens build savings over time.

Savings Certificates

A term-based savings option for members who want predictable growth over a fixed period, with multiple certificate types available for different goals.

• Traditional Savings Certificate: A standard certificate option for saving toward future goals over a set term.
• IRA Certificate: A certificate option designed for retirement savings.
• Three-Month Penalty-Free Certificate: A short-term certificate option designed for flexibility.
• Homebuyer Certificate: A certificate option designed to help members save for a home down payment.

Credit Cards at Granite Credit Union

Granite Credit Union offers a small set of Visa credit cards designed for different goals—keeping interest costs lower, earning points, or earning cash back. Below is a high-level overview—full details will be in the Granite Credit Union Credit Cards post.

Low-Rate Visa

A credit card designed for members who want a lower-rate option.

Rewards Visa

A rewards credit card that earns points on purchases.

Cashback Visa

A credit card designed for members who prefer cash back rewards.

Visa Signature Cashback

A Signature-tier cash back card designed for members who qualify for that level of credit card.

Loans

Personal Loans

Granite Credit Union personal loans offer flexible terms and competitive rates to cover a variety of needs. Common uses include weddings, vacations, appliances, home repairs, and medical or education expenses. Available terms range from 12 to 48 months.

Auto Loans

Granite Credit Union offers loans for new or used vehicles with low rates and the possibility of discounts for on-time payments. Loan terms can extend up to 84 months, and you may receive a rate reduction for every 3 months of on-time payments.

Adventure Loans

These loans are designed to finance recreational vehicles such as boats, motorcycles, snowmobiles, and more. They offer favorable terms for members who want to fund outdoor activities and adventure purchases.

Mortgages

Conventional Mortgages

These mortgages offer competitive rates and personalized service for home purchases.

Short-Term Mortgages

These options allow you to pay off your mortgage faster in 5 to 12 years, helping you reach financial freedom sooner.

HELOCs and Second Mortgages

These options let you use the equity in your home for home improvement projects or other financial needs.

Construction Loans

These loans help finance the construction of a new home, with a streamlined process and low closing costs.

Reverse Mortgages

Designed for members age 62+, these mortgages allow you to convert part of your home’s value into income without monthly payments.

For more information or to apply for any of these loans, you can visit a nearby branch, apply online, or contact Granite Credit Union customer service.

Who Can Join Granite Credit Union?

You may be eligible for membership if you live, worship, work (or regularly conduct business in), study, or own a business or other legal entity in any of the following counties:

• Salt Lake
• Box Elder
• Weber
• Morgan
• Davis
• Summit
• Tooele
• Utah
• Wasatch
• Juab

Family Members of Current Members: Immediate family members of current members may also qualify, including spouses, children, parents, and siblings.

Employees of Participating Companies: People who work for Granite Credit Union partner or sponsor companies may also qualify for membership.

Members of Affiliated Community Organizations: Some community organizations have agreements with Granite Credit Union that allow their members to join the credit union.

Other Specific Requirements: Additional membership criteria may apply, such as certain residency or employment requirements.

To verify eligibility or learn more about how to join, you can visit a branch, check online, or contact Granite Credit Union customer service.

Conclusion

Founded in 1935 as Granite Teachers Credit Union, Granite Credit Union started as a teacher-focused credit union for the Granite School District and expanded over time as membership and services grew. After merging with Murray School District Credit Union, it adopted the name Granite Credit Union, and in 2004 it became a federal credit union, expanding its field of membership even further. Granite also continued to grow through mergers, including a merger with Salt Lake Schools Credit Union in 2009.

Today, Granite is headquartered in Millcreek and operates branches across Salt Lake County, with additional locations in Davis County and Weber County. It offers a full range of financial products and services, including checking accounts, savings and money market options, youth accounts, savings certificates, credit cards, and a variety of loans—from personal and auto loans to mortgages and home equity options. In recent years, Granite has also emphasized financial inclusion, earning the Juntos Avanzamos designation in 2023 and opening a fully Spanish-language branch in Rose Park in 2024 in partnership with Rancho Markets, including services like ITIN lending.