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. It originally operated as Granite Teachers Credit Union.

Today, Granite is a full-service, member-owned financial institution headquartered in Millcreek with 13 branch locations. Its branches are concentrated across Salt Lake County, with additional locations in Davis County (Clearfield), Weber County (Ogden), and Utah County (Eagle Mountain). Granite is guided by a “people helping people” philosophy that emphasizes financial inclusion, including access to ITIN lending. 

Granite Credit Union is included in our guide of the Best Credit Unions in Utah.

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. In 2004, the credit union became a federal credit union, which expanded its field of membership even further. It later merged with Salt Lake Schools Credit Union in 2009. 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 accounts, money market accounts, IRAs, and savings certificates (CD-style accounts). It also provides Visa debit cards, wire transfers, and digital services like online and mobile banking with bill pay. Granite offers a range of lending options including auto, personal, student, mortgage, and home equity loans. For business members, it also provides tools and services such as payment processing and business banking support.

granite.org | Spend Accounts

Granite Credit Union Checking Accounts

Granite Credit Union offers a small lineup of checking accounts designed for everyday spending, simpler account management, and dividend earnings for members who meet balance requirements.

Basic Spend

A straightforward everyday checking account for routine spending and deposits.

• Monthly fee: $0
• Minimum to open: $0

Simple Spend

A simplified checking option designed to help avoid common checking issues.

• Monthly fee: $0
• Minimum to open: $0

Dividend+

A dividend-earning checking account for members who meet the account requirements.

• Monthly fee: $0
• Minimum balance to earn dividends: $5,000

Savings Accounts at Granite Credit Union

Granite Credit Union offers several savings options, from basic everyday savings to money market accounts for members who want to earn dividends while maintaining access to their funds. Deposits are federally insured by the National Credit Union Administration (NCUA) to at least $250,000.

Savings Account

A standard savings account designed for everyday saving.

• Monthly fee: $0
• Dividend earnings: Yes

Money Market Account

A higher-earning savings-style option with easy access to funds.

• Monthly fee: $0
• Minimum to open: $0

Always Insured – ICS Money Market

A money market option designed for larger balances using the ICS program.

• Minimum balance: $250,000
• Maximum balance: $25,000,000

Savings Certificates

Granite’s savings certificates are term-based options designed for predictable growth over a fixed period.

Traditional Savings Certificate

A standard certificate option for saving toward future goals over a set term.

• Minimum to open: $500
• Terms: 6 months to 60+ months

IRA Certificate

A certificate option designed for retirement savings.

• Type: Retirement certificate
• Rate structure: Fixed rate for the selected term

Three-Month Penalty-Free Certificate

A short-term certificate designed for flexibility.

• Minimum to open: $25
• Early withdrawal penalty: None

Homebuyer Certificate

A certificate designed to help members save for a home down payment.

• Term: 6 months
• Monthly contribution: At least $25

Youth Accounts at Granite Credit Union

Granite offers youth accounts and savings options designed to help kids, teens, and young adults build saving and money-management habits.

Smart Start Account (Ages 0–11)

A starter youth savings account designed to help children begin building saving habits.

• Monthly fee: $0
• Minimum balance: $5

On Course Teen Spend Account (Ages 12–17)

A teen-focused account that combines savings with a Simple Spend account, debit card, and digital banking access.

• Monthly fee: $0
• Minimum balance: $5

YoungInvestor Savings Account (Ages 0–26)

A higher-earning savings account designed to help younger members build savings over time.

• Age range: 0–26
• Round-Up option: Available

First-Step Savings Certificate (Ages 0–17)

A youth certificate option that allows regular monthly deposits to help build savings over time.

• Minimum to open: $0
• Minimum monthly automatic deposit: $10

Credit Cards at Granite Credit Union

Granite Credit Union’s Visa cards share a few core benefits across the lineup:

• Annual fee: $0
• Protections: Zero Liability
• Coverage: Auto Rental Coverage
• Grace period: 25 days on purchases
• Support: 24/7 customer care
• Controls: Card Suite Lite / mobile card controls

granite.org | Credit Cards

Low-Rate Visa

Best for members who want a lower-rate card for everyday use.

• Annual fee: $0
• Welcome bonus: None
• Intro offer: Not offered
• Rewards: None

Rewards Visa

Best for members who want to earn points on purchases.

• Annual fee: $0
• Welcome bonus: None
• Intro offer: Not offered
• Rewards: Earn points on purchases

Signature Cashback Visa

Best for members who want simple cash back.

• Annual fee: $0
• Welcome bonus: None
• Intro offer: Not offered
• Rewards: 1.5% cash back on everything

Loans

Personal Loans

Granite Credit Union personal loans are designed for flexible borrowing across common personal expenses.

• Common uses: Weddings, vacations, appliances, home repairs, medical or education costs
• Terms: 12–48 months

Auto Loans

Granite Credit Union auto loans are available for new or used vehicles, with potential rate reductions for consistent on-time payments.

• Max term: Up to 84 months
• Rate feature: Rate reductions available after consecutive on-time payments

Adventure Loans

Adventure Loans are designed for recreational vehicles and outdoor purchases.

• Examples: Boats, motorcycles, snowmobiles, side-by-sides, jet skis, trailers, and RVs
• Max term: Up to 144 months

QCash

QCash is a small-dollar loan designed for members who need quick access to funds without a traditional credit check.

• Loan amounts: $200–$2,000
• Credit check: None

Mortgages

Traditional Mortgages

Granite Credit Union offers several mortgage options for home purchases.

• Options: Conventional, FHA, VA, and USDA mortgages
• Best for: Financing a home purchase

Short-Term Mortgages

Short-term refinance options are designed for homeowners who want to pay off their mortgage faster.

• Term range: 5–12 years
• Best for: Accelerating mortgage payoff

HELOCs and Second Mortgages

Granite offers home equity options for members who want to borrow against the equity in their home.

• HELOC: Revolving credit line with a 10-year draw period
• Second mortgage: Fixed-rate lump-sum loan

Construction Loans

Loans designed to finance the construction of a new home.

• Best for: New home construction
• Purpose: Financing the building process

Reverse Mortgages

Designed for older homeowners who want to access a portion of their home equity.

• Age requirement: 62+
• Payment options: Lump sum, monthly payments, line of credit, or a combination

For more information or to apply, you can visit a branch, apply online, or contact Granite Credit Union customer service.

Who Can Join Granite Credit Union?

Granite Credit Union membership is available to individuals who meet its geographic or family eligibility requirements.

• Counties: Salt Lake, Box Elder, Weber, Morgan, Davis, Summit, Tooele, Utah, Wasatch, Juab
• Eligibility: Live, work, worship, or attend school in one of these counties
• Family: Immediate family members of qualifying individuals may also be eligible
• Businesses: Businesses may also qualify for membership

To verify eligibility, visit a branch, check online, or contact Granite Credit Union customer service.

Conclusion

Founded in 1935 as Granite Teachers Credit Union, Granite Credit Union began as a teacher-focused credit union for the Granite School District and expanded 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 primarily across Salt Lake County, with additional locations in Davis County, Weber County, and Utah 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, small-dollar and vehicle loans, 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.

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Disclaimer:
This page is not affiliated with, maintained by, or sponsored by Granite Credit Union. The information provided in this overview may be outdated or inaccurate after the publication date. UtahFi does not assume responsibility for the accuracy of the content. The logo is a registered trademark of Granite Credit Union.