Utah Power Credit Union: Accounts and How to Become a Member

Utah Power Credit Union Overview

Utah Power Credit Union is a Utah-based, member-owned credit union that traces its roots to 1935, when it was founded to serve employees of Utah Power & Light. Today, it serves qualifying employees, retirees, and family members while maintaining a physical presence in several communities across Utah.

The credit union offers checking and savings accounts, certificates, credit cards, auto and personal loans, mortgages, home equity products, and business deposit accounts. This guide explains Utah Power Credit Union’s accounts and services, where it operates in Utah, and how to become a member.

Utah Power Credit Union Expansion

Utah Power Credit Union began in Salt Lake City in 1935, when employees of Utah Power & Light organized the institution during the Great Depression. Originally known as Utah Power & Light Employees’ Credit Union, its first office was located in the Utah Savings and Trust building in downtown Salt Lake City.

The credit union began expanding beyond Salt Lake City in 1988, when it opened a part-time branch in Huntington. By 1999, that operation had grown enough for Utah Power Credit Union to build its first dedicated branch building. Membership also expanded after Pacific Power and Utah Power combined to form PacifiCorp in 1989.

Mergers helped extend Utah Power Credit Union into additional communities. UP&L Ogden Credit Union merged into UPCU in 2000, followed by Balance Rock Credit Union in 2008, People’s Electric Power Credit Union in 2012, and Moon Lake Electric Employees Power Federal Credit Union in 2015.

In 2005, the institution shortened its name to Utah Power Credit Union. In 2010, it moved its main operations to Murray while keeping its former main office open as the North Temple branch in Salt Lake City. Today, it also operates Utah offices in Helper, Huntington, Ogden, Price, Roosevelt, and Vernal. In 2025, Utah Power Credit Union celebrated its 90th anniversary and surpassed $1 billion in assets. It is now one of the largest credit unions in Utah by assets.

Utah Power Credit Union Products and Services

utahpowercu.org | Products

Utah Power Credit Union offers a range of personal banking, lending, home financing, and business deposit products for eligible members. Its deposit lineup includes checking, share savings, certificates of deposit, and retirement accounts, while its lending options include credit cards, auto loans, personal loans, mortgages, and home equity financing.

Members can also manage accounts through online and mobile banking, with services such as mobile check deposit, bill pay, debit-card access, shared branching, and access to fee-free network ATMs. Business services are more limited than the personal lineup but include business checking and savings accounts.

Checking Accounts

Utah Power Credit Union currently lists Free Checking and Power Checking among its personal checking products, along with a separate Business Checking account. Public details are most complete for Power Checking, which Utah Power Credit Union describes as its primary consumer checking account.

Free Checking

Utah Power Credit Union currently lists Free Checking as a checking-account option on its published rates page. Detailed account features, fees, minimum balance requirements, and eligibility requirements are not stated on the public product pages.

Power Checking

Power Checking is designed as a straightforward everyday checking account with no monthly maintenance fee or minimum balance requirement.

• Monthly fee: $0
• Minimum balance: $0
• Check writing: Unlimited
• Mobile deposit: Available by request
• Additional benefits: Money orders, cashier’s checks, and 1 box of checks every 12 months

Members can also use an automatic transfer from savings feature, which moves funds from savings to checking as checking transactions occur.

Savings Accounts

Utah Power Credit Union offers savings options for everyday deposits, membership, and retirement. A regular share savings account is especially important because it establishes membership and ownership in the credit union.

Regular Share Savings

Regular Share Savings serves as Utah Power Credit Union’s primary membership savings account. Opening the account establishes the member’s ownership share in the credit union.

• Minimum membership deposit: $5
• Membership role: Establishes ownership in Utah Power Credit Union
• Voting rights: Each member-owner receives an equal vote in credit union elections

Savings Certificates

Utah Power Credit Union offers Certificates of Deposit for members who want to set aside money for a fixed period, along with a Savers Certificate designed for members who prefer to build savings through regular contributions.

Certificate of Deposit

Utah Power Credit Union’s standard Certificates of Deposit provide a fixed-term savings option for members who can leave funds on deposit until maturity.

• Available terms: 12 months and 24 months
• Minimum to open: $500
• Early withdrawal: A penalty may apply
• Retirement availability: Certificates may also be used with eligible IRA accounts

Savers Certificate

The Savers Certificate is designed for members who want to build a certificate balance gradually rather than deposit a larger amount at opening.

• Term: 12 months
• Minimum to open: $9
• Ongoing contribution: At least $9 per month
• Maximum balance: $10,000

The Savers Certificate can be useful for members working toward a specific savings goal while making smaller recurring deposits over time.

Individual Retirement Accounts

Utah Power Credit Union also offers Individual Retirement Accounts for members saving for retirement, including Traditional and Roth IRA options. IRA funds may be held in qualifying savings or certificate products depending on the account selected.

Eligible deposits at Utah Power Credit Union are federally insured by the National Credit Union Administration  (NCUA) through the National Credit Union Share Insurance Fund, subject to applicable coverage limits and ownership categories.

See how what NCUA insurance means for Utah credit union members.

Credit Cards

Utah Power Credit Union currently offers a single consumer Visa credit card. The card is designed for everyday purchases and includes a simple rewards program without an annual fee.

Utah Power Credit Union Visa Credit Card

Best for members who want a straightforward credit card with rewards and no annual fee.

• Annual fee: $0
• Rewards: 1 point for every $1 spent
• Card type: Rewards Visa credit card
• Other perks: $0 cash advance fee

Rewards points can be redeemed for a credit to the card through online banking or with assistance from a Utah Power Credit Union representative.

Loans

utahpowercu.org | Loans

Utah Power Credit Union offers several types of consumer loans for vehicle purchases, personal borrowing, and other financing needs. Its lending lineup includes auto loans, recreational vehicle financing, unsecured personal loans, and share-secured loans.

Auto Loans

Utah Power Credit Union provides financing for new and used vehicles, including refinancing for eligible existing auto loans.

First-Time Auto Buyer

The credit union also offers a first-time auto buyer option for eligible members financing their first vehicle.

Recreational Vehicle Loans

Financing is available for eligible recreational vehicles, including RVs and other qualifying recreational purchases.

Personal Loans

Personal loans provide unsecured financing that can be used for a variety of personal expenses.

Share-Secured Loans

Share-secured loans allow members to borrow against funds held in their Utah Power Credit Union savings account while keeping those funds on deposit.

Utah Power Credit Union also offers an overdraft line of credit that can be connected to checking as an alternative form of overdraft protection.

Mortgages and Home Loans

Utah Power Credit Union offers home financing for members buying, refinancing, or borrowing against the equity in a home. Its current lineup includes fixed-rate mortgages, first-time homebuyer financing, and home equity products.

Fixed-Rate Mortgages

Fixed-rate mortgage options are available for eligible home purchases and refinancing, giving borrowers a consistent interest rate and payment structure over the life of the loan.

First-Time Homebuyer Mortgage

Utah Power Credit Union offers a mortgage option specifically for eligible first-time homebuyers purchasing a primary residence.

Home Equity Loans

Home equity loans allow eligible members to borrow against available equity in their homes using a fixed borrowing structure.

Home Equity Line of Credit

A home equity line of credit provides revolving access to available home equity, allowing eligible borrowers to draw funds as needed during the applicable draw period.

Utah Power Credit Union does not currently advertise FHA, VA, or USDA mortgage programs on its public website.

Business Accounts and Services

Utah Power Credit Union offers a limited business deposit lineup that includes Business Checking and Business Savings. Public details for these accounts are limited compared with the credit union’s personal products.

Business Checking

Business Checking is available for eligible business members and is listed separately from Utah Power Credit Union’s personal checking accounts.

Business Savings

Business Savings provides a deposit option for eligible businesses that want to maintain savings with Utah Power Credit Union.

General Account Fees

• Domestic wire transfer: $10
• International wire transfer: $35
• Stop payment: $10
• Stop payment, series: $20
• NSF item: $18
• Courtesy Pay item: $21
• Returned deposited item: $18
• Abandoned account fee: $15

Utah Power Credit Union’s public website does not currently provide detailed information about business loans, business credit cards, merchant services, or treasury-management services.

Who Can Join Utah Power Credit Union?

Utah Power Credit Union has specific membership requirements, so membership is not automatically available to every Utah resident. Eligibility is primarily based on employment, retirement, or a qualifying family relationship.

The credit union has longstanding ties to the electric-power industry. Its history includes serving employees of Utah Power & Light, PacifiCorp-related organizations, Rocky Mountain Power, and Moon Lake Electric, although Utah Power Credit Union does not publish a complete list of qualifying select employee groups on its public website.

• Employment: Employees of qualifying select employee groups may be eligible.
• Retirement: Retirees of qualifying select employee groups may also qualify.
• Family: A spouse, child, parent, or sibling of an existing Utah Power Credit Union member-owner may be eligible to join.

Utah Power Credit Union may require proof of eligibility during the application process. Prospective members should confirm that their employer or retirement relationship qualifies before applying.

Membership eligibility is separate from the credit union’s branch network. Living near a Utah Power Credit Union branch does not by itself establish eligibility.

Conclusion

Utah Power Credit Union has served members since 1935, beginning with employees of Utah Power & Light and gradually expanding through changes in the power industry, broader family eligibility, branch growth, and several credit union mergers. Today, it is headquartered in Murray and maintains branches across the Wasatch Front and communities in eastern and northeastern Utah.

The credit union offers checking and savings accounts, certificates, a Visa credit card, consumer loans, mortgages, home equity financing, and business deposit accounts. Membership remains tied primarily to qualifying employee groups, retirees, and eligible family members, preserving Utah Power Credit Union’s longstanding connection to the electric-power industry.

Related Credit Unions

Disclaimer:
This page is not affiliated with, maintained by, or sponsored by Utah Power 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 Utah Power Credit Union.