Wasatch Peaks Credit Union: Membership, Accounts & Loans

Wasatch Peaks Credit Union Overview

Wasatch Peaks Credit Union, founded in 1930 as Ogden Government Employees Credit Union, has grown significantly through a series of strategic mergers. Today, it serves 31,660 members, primarily in Weber, Davis, and Morgan counties.

With 6 branch locations, Wasatch Peaks offers a wide range of financial products—from savings and checking accounts to auto loans and mortgages. In 2011, after multiple mergers, the credit union adopted its current name: Wasatch Peaks Credit Union. This review summarizes its background, products and services, and key details to consider if you’re thinking about joining. 

Expansion

Wasatch Peaks Credit Union’s growth has been shaped by strategic mergers since its earliest days. This timeline highlights key moments in the credit union’s history and how it expanded over the decades:

• 1930: Founded as Ogden Government Employees Credit Union by employees of the U.S. Postal Mail Terminal and the U.S. Forest Service.
• 1956: Weber Education Association Credit Union is established (later renamed Weber Credit Union).
• 1989: Ogden Clinic Credit Union and Browning Employees Credit Union merge into McKay-Dee Credit Union.
• 1995: Ogden Government Employees Credit Union is renamed Alliance Credit Union.
• 1998: Rocky Mountain Credit Union (formerly Ogden City Municipal Employees Credit Union) merges with Alliance Credit Union.
• 2006: McKay-Dee Credit Union changes its name to SummitOne Federal Credit Union.
• 2011: Alliance Credit Union and Weber Credit Union merge to form Wasatch Peaks Credit Union on July 1.
• 2013: SummitOne Federal Credit Union merges with Wasatch Peaks Credit Union on July 1.

Today, Wasatch Peaks serves 31,660 members and ended 2025 with $631.7 million in assets.

Products and Services

Wasatch Peaks Credit Union offers a range of everyday banking and lending options for individuals and businesses. Its lineup includes checking and savings accounts, certificates, credit cards, and loans such as personal loans, vehicle loans, and several home financing options—including mortgages, refinancing, HELOCs, construction loans, and land/lot loans. Members can manage their accounts through Peaks Digital Banking, which includes online and mobile banking, with in-branch support available at its branch locations.

Wasatch Peaks Checking Accounts

Wasatch Peaks promotes these as free checking options, meaning they have $0 monthly service fees. The main differences come down to whether you want a basic account, a rewards-style account, or a youth-focused account with digital banking tools.

wasatchpeaks.com | Checking Accounts

Free Checking

Basic everyday checking for members who want simple spending and bill pay.

• Monthly fee: $0
• Minimum balance: No minimum balance requirement
• Earns 0.05% APY on balances over $1,000

Peaks Perks Checking (Cash Back or High Dividend)

Rewards checking for members who want extra perks when they use the account actively. This account comes in two options: Cash Back or High Dividend.

• Monthly fee: $0
• Minimums: No minimum deposit to open and no minimum balance to earn rewards
• Monthly qualification: 18 debit card purchases, eStatements, and log into Online Banking at least once
• Cash Back option: Earns 3% cash back on up to $200 in debit card purchases per month (up to $6)
• High Dividend option: Earns tiered dividends based on your balance when monthly qualifications are met

CLIMB Checking™

Youth-focused checking for members who want everyday account access, digital banking tools, and debit card cash back while building money-management skills.

• Monthly fee: $0
• Rewards: 3% cash back on the first $200 spent (up to $6 per month)
• Monthly qualification: 12 debit card purchases, eStatements, and log into Online Banking at least once

Wasatch Peaks Savings Accounts

Wasatch Peaks offers several savings options for everyday needs, specific goals, and longer-term plans. These deposit accounts are NCUA-insured up to $250,000 per depositor (per ownership category). Membership starts with a primary savings account, and a $5 minimum deposit is required to maintain membership.

Savings (Primary / Share Savings)

The primary savings account used to establish membership and hold everyday savings.

• Minimum balance: $5
• Dividends: Earns dividends with rates paid monthly
• Also serves as the membership share required to access other Wasatch Peaks products

Kids Savings (MONEY MOO$E™ Kids Club)

Savings for kids (up to age 12) designed to build saving habits early.

• Minimum balance: $5
• Dividends: Earns dividends with rates paid monthly
• Converts to a primary savings account at age 12

Health Savings (HSA)

A Health Savings Account option for eligible members who want to set aside funds for qualified medical expenses.

• Minimum balance: $0
• Enrollment fee: $0
• Contributions, distributions, and eligibility are subject to IRS rules for HSAs

Budgeter Accounts

Goal-based sub-savings accounts that let you separate money into different savings goals inside online banking.

• Members can create up to 30 additional sub-accounts
• Each sub-account can be named for a specific savings or budgeting goal
• Automatic transfers can be set up through online banking

Christmas Account

A seasonal savings option designed to help members set aside money for holiday or year-end expenses.

• Maximum deposit: $300 per month
• Balance transfers to primary savings on or after October 4
• Early withdrawal dividend penalty: 60 days’ dividends on the amount withdrawn ($5 minimum)

Money Market

A liquid savings option designed for members who want tiered earnings while maintaining access to their funds.

• Minimums: No minimum deposit or minimum balance requirement
• Earns dividends starting with balances as low as $0, with higher rates at larger balance tiers
• Up to 6 electronic withdrawals per month, with additional withdrawal options available in person

Certificates

Fixed-term savings options designed for members who want higher earning potential and a defined savings timeline.

• Regular Certificates: Generally require a $500 minimum deposit, with terms ranging from 3 to 60 months
• Flex Certificate: $50 minimum opening deposit for a 12-month term and allows additional deposits
• Dedicated Saver Certificate: $10 minimum opening deposit plus a required $10 minimum monthly deposit

IRAs (IRA Savings / IRA Certificates)

Retirement-focused accounts for members who want longer-term, tax-advantaged saving options.

• IRA Savings: No minimum deposit required
• IRA Certificates: Start at $500
• Traditional, Roth, and Educational IRA options are available, with contributions and distributions subject to IRS rules

Credit Cards

Wasatch Peaks Credit Union offers Visa® credit cards built around rewards points, cash back, or a low-rate option without rewards. Card terms and promotional offers can change, so it’s worth checking current rates and disclosures before you apply.

wasatchpeaks.com | Credit Cards

Summit Rewards Visa®

Best for members who want points-based rewards.

• Annual fee: $0
• Welcome bonus: Not stated
• Intro offer: Promotional balance transfer offers may be available at times
• Rewards: Earn points on eligible purchases and redeem through their rewards program
• Other perks: Includes card controls in digital banking and travel-related protections like travel accident and auto rental coverage

Visa® 1.5% Cash Back

Best for members who want a flat-rate cash-back card.

• Annual fee: $0
• Welcome bonus: Not stated
• Intro offer: Not stated
• Rewards: Earn 1.5% cash back on eligible purchases
• Other perks: Simple cash-back structure designed for everyday spending

Visa® 1% Cash Back

Best for members who want a basic cash-back card.

• Annual fee: $0
• Welcome bonus: Not stated
• Intro offer: Not stated
• Rewards: Earn up to 1% cash back on eligible purchases
• Other perks: Straightforward cash back without rotating categories

Visa® No Cash Back

Best for members who want a low-rate option instead of rewards.

• Annual fee: $0
• Welcome bonus: Not stated
• Intro offer: Not stated
• Rewards: None
• Other perks: Designed for members who prioritize rate over rewards

Wasatch Peaks Loans

Personal Loans (Signature Loans)

Personal loans at Wasatch Peaks Credit Union—known as Signature Loans—are designed for short-term needs such as unexpected expenses, vacations, or technology upgrades. Members can typically borrow $1,000 to $10,000 with terms ranging from 12 to 48 months. These loans are unsecured (no collateral required) and can be requested online.

Secured Personal Loan (Share Secured or Certificate Secured)

This personal loan option is backed by collateral, such as a savings account (Share Secured Loan) or a certificate (Certificate Secured Loan). Share Secured Loans are priced at 3% above the savings rate and can have terms up to 60 months. Certificate Secured Loans let members borrow against the value of a certificate while keeping the certificate on deposit.

Vehicle Loans

Wasatch Peaks Credit Union offers vehicle financing for both everyday transportation and recreation. Common options include:

• Auto Loans: Financing for new or used cars, trucks, and SUVs, with terms up to 84 months.
• RV Loans: Financing for new or used RVs, fifth wheels, trailers, motorhomes, and toy haulers, with terms up to 180 months.
• ATV/UTV Loans: Financing for new or used ATVs, UTVs, and side-by-sides, with terms up to 84 months.
• Other recreational vehicles: Wasatch Peaks also finances boats, personal watercraft, motorcycles, and snowmobiles.

Mortgages

Conventional Mortgages

Traditional home loans with fixed-rate or adjustable-rate options, designed for buying a primary home, vacation home, or investment property. Terms typically range from 10 to 30 years.

First-Time Home Buyer Programs

Home financing options for first-time buyers that may include grants and other benefits designed to make homeownership more accessible.

FHA Loans

A government-insured mortgage option often positioned for buyers who want a lower down payment and more flexible qualifying guidelines.

VA Loans

A mortgage option for eligible veterans and service members that may allow $0 down for qualified borrowers and does not require PMI.

USDA Loans

A government-backed mortgage option for eligible buyers and qualifying properties in rural areas, with $0 down available for qualified borrowers.

Jumbo Loans

A mortgage option for loan amounts above standard conforming limits, designed for higher-priced homes and borrowers who qualify.

Mortgage Refinance

Refinancing options for homeowners who want to adjust their interest rate, term, or monthly payment, including cash-out refinancing for eligible borrowers.

Home Equity Line of Credit

A revolving line of credit that lets homeowners borrow against available home equity as needed for expenses such as renovations, debt consolidation, education, or unexpected costs.

Home Equity Loans

A lump-sum loan option that lets homeowners borrow against home equity with a traditional installment-style repayment structure.

Construction Loans

Financing designed for members who want to build a home, with funding structured around the construction timeline and project needs.

Land and Lot Loans

Financing designed for members who want to purchase improved lots or raw land for future use or building plans.

Home Insurance

Home insurance is available through TruStage, Wasatch Peaks’ insurance partner, as an additional option for homeowners.

Who Can Join Wasatch Peaks Credit Union?

Wasatch Peaks Credit Union membership is available to people who meet at least one of several eligibility paths—mainly based on where you live, work, attend school, worship, or do business, a family connection to an existing member, or an affiliated organization option.

Geographic Eligibility

You may qualify if you live, work, worship, attend school, or regularly conduct business in Weber, Davis, or Morgan counties.

Select Underserved Communities

You may also qualify through a select underserved community located in Box Elder, Salt Lake, Summit, Utah, Tooele, and Juab counties, based on where you live, work, worship, attend school, or regularly conduct business.

Family Members of Current Members

Immediate family members of an existing member can qualify, including parents, children, siblings, spouse (or surviving spouse), grandparents, and grandchildren, including step and adoptive relationships.

TFNU Affiliation Option

Membership may be available through Trails Foundation of Northern Utah (TFNU), and Wasatch Peaks notes they can enroll you at no additional cost if needed.

Community Impact Fund (CIF)

You can also become eligible by supporting the Community Impact Fund (CIF). Wasatch Peaks states that this option is available at no cost, and CIF membership also provides access to financial education resources.

Other Eligibility Paths

If none of the options above fit, Wasatch Peaks notes that a member service representative can help identify the best eligibility option.

Conclusion

Wasatch Peaks Credit Union traces its roots back to 1930, when it was founded as Ogden Government Employees Credit Union. Over time, it expanded through multiple mergers that helped shape the institution it is today. A major milestone came in 2011, when the credit union adopted the Wasatch Peaks Credit Union name and continued growing in the years that followed.

Today, Wasatch Peaks offers a broad mix of financial products and services. Members can choose from checking and savings accounts, certificates, and credit cards, along with lending options such as personal loans, vehicle loans, and a variety of home loan and refinance solutions.

Membership is designed to be accessible for many Utah residents. You may qualify through eligibility in Weber, Davis, and Morgan counties, through select underserved communities in other counties, or as an immediate family member of an existing member. Additional eligibility paths are also available through affiliated options such as Trails Foundation of Northern Utah (TFNU) and Community Impact Fund (CIF).

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Disclaimer:
This page is not affiliated with, maintained by, or sponsored by Wasatch Peaks Credit Union. Information may change after publication, so please verify details directly with the institution. UtahFi does not guarantee the accuracy of this content. The name and logo are trademarks of Wasatch Peaks Credit Union.