UFirst Credit Union | It's Better Here (2024)

UFCU is Now UFirst Credit Union

Our Name Has Changed, but Our Commitment to You Will Always Stay the Same

After months of anticipation, we’re proud to finally announce our new name. University Federal Credit Union is nowUFirst Credit Union, a name thatmatches the most important part of our promise to you– putting you first, no matter what. After 65 years of service, we are now going forward asUFirst, and we're so excited to show you all the ways it's getting even better here.

UFirst Credit Union | It's Better Here (1)

Click one of these titles to read more about our rebrand:

OUR GROWTH

Growing with Utah

Changing for the Better, Still Putting You First

Many of you know where our credit union began in 1956-- as an idea formed in a small room with a small group of professors on the University of Utah campus-- but where we’re headed, is becoming a whole new story. As Utah has grown, our organization has grown with it. As the needs of our communities have changed, we’ve evolved to meet the demands of Utah’s rapidly growing culture.

Our state is flourishing and, more than ever, Utahns need more diverse financial products, they need improved banking technology, and, overall, Utahns need a greater presence from us, a financial institution that’s trusted by Utah and recognized nationally as a financial pillar of our state. Most importantly,youdeserve a financial institution who sees Utah’s needs and rises to meet them; you deserve a credit union that grows alongside you and your family. We owe it to you-- to your family, your neighbors, to Utah’s schools and businesses, and to all of Utah’s burgeoning communities-- to grow, and we will always put your needs first.

That’s why, after careful deliberation and months of research, we have decided to change our name to UFirst Credit Union. This is not a decision we made lightly, but rather, we understood that, in order to demonstrate our promise to the community, our name needed to better reflect our dedication to you; it needed to show that we are not limited by our roots, but instead, we’re empowered by them. The strength of our roots enables us to support you, and our growth enables us to serve youbetter.

Beginning January 18, 2022, University Federal Credit Union will go forward UFirst Credit Union, a name that underscores our mission to serve Utah’s families, schools, and businesses, and proves that, no matter how much we grow, you will always be our first priority. Before all else, we’ll always put you first.

OUR RESEARCH

Our Rebrand

The Story Behind Our New Look

Since our founding over sixty-five years ago, we have been close partners with the University of Utah. As we have expanded beyond the University campus, our connection with the University of Utah has remained as strong as ever. We continue to serve and support the University’s students, faculty, and staff even as we have built new branches in places like St. George, Lehi, and Eagle Mountain.

Our membership continues to grow across all areas of Utah, and this partnership that is so important to us has also created much confusion about who is eligible to join our credit union. Our footprint covers most of Utah and nearly everyone in the state can be a member. However, we have found that many people believe that only students and alumni of the University of Utah can be members of our community-based credit union.

As we began working on plans to open more branches outside of the Salt Lake Valley, we partnered with a local market research company to determine what impact our name has on the perception of member eligibility. We spent eighteen months conducting research studies, studying feedback and member comments to determine what would be the best course of action.

The results were convincing. Over 40% of respondents believed that only students or alumni of the University of Utah could become members of our credit union. Additionally, we found that our members’ most valued aspect of the credit union is our excellent member service. In fact, one member stated, “I don’t care what you call yourself, as long as you continue to treat me with the same great service.”

After months of research and analysis, we made the decision to change our name to better reflect our values and what is most important to us as an institution: you, our members!

Rebranding was not a decision we made casually. We are not merging with another credit union, and we will continue to be the same safe and secure credit union that you know today. We will remain committed to you and your needs, and we will maintain a strong partnership with the University of Utah. We were born there; we will always be connected to our roots on campus and supportive of the University’s students, faculty and staff.

As we grow, we honor our start on campus, and we look forward to a bigger and better future as UFirst Credit Union.

OUR HISTORY

Our History of Putting You First

Serving You Community Since 1956

For more than sixty-five years, our credit union has worked to make a difference for Utah. We value the communities where you live, work, learn and grow, and, to ensure those communities can continue to advance, we will always put your needs first. During the past decades, we’ve been growing into one of the most trusted financial institutions in our state. Here’s a look at some of the most important milestones in our recent history.


--- 2004, University First Federal Credit Union

In 2004, we expanded our field of membership from those affiliated with the University of Utah, to anyone who lives, works, worships, goes to school, or volunteers in Salt Lake County, along with the immediate family members of anyone who met those criteria.

This expansion marked an important milestone for our growth and trajectory, laying the groundwork for a modern credit union that could better serve larger and growing communities.

--- 2020, Field of Membership Expansion

In 2020, our field of membership expanded further to include Salt Lake, Davis, Utah, Wasatch, Summit, and Tooele Counties. With the ability to establish roots in even more Utah communities, we experienced major growth in our organization, assets, employees and the communities we serve.

--- 2021, Forbes "Best Credit Union in Utah"

In 2021, we were named “Best Credit Union in Utah” by Forbes for offering superior customer service, financial advice, branch service, digital services, and for the trust we’ve fostered with our members and community.

--- 2022, Our Biggest Name Change

In January of 2022, nearly sixty-six years after we first began serving Utah, we will go forward with a new name that better reflects our presence in the Utah community and exemplifies our philosophy of serving members. After January 18, 2022, we are UFirst Credit Union.

With the strength of our history and the momentum of our growth, we’re ready to help you achieve more, too. Looking ahead, we know the best is yet to come!

How the Rebrand Impacts You

What Will Change and What Will Stay the Same

As we change our name and update our branding, you may be asking, “how does this affect me?” The short answer is, things are getting better here.

First, we feel it’s important to convey that this name change is not the result of a merger or buy-out, and we are still the same credit union with the same commitments to you. We are simply updating our brand to better reflect our commitment to serve a growing membership that extends throughout the entire state of Utah and beyond.

Over the next several months, you will begin to see changes at the credit union. It is our intention that these changes be positive and not disruptive. Here’s what you can expect:

What’s Changing?

Our Name, Logo, and Signage

Our name and logo will be changing. We will also beupdating all the signage at our branches. You will see our signs being replaced on all our buildings over the next few months.

Our Website

We are updating our website and changing the web address (but, don’t worry, you’ll be automatically redirected to our new site as soon as our new brand is officially launched).

Our current site will remain active and you can continue to access your accounts, online banking, payments, and etc.

Your Visa Cards

We have updated our Visa card designs with our new look and logo. We will be reissuing all Visa credit and debit cards in the coming months.

In most cases your card number will not change, however, your expiration date and CVV number will change with your new card. This means, you will need to update any auto pays with your new card details.

What’s Staying the Same?

The Way You Manage Your Finances

You will still have access to all our products and services, and you can still contact us in the same ways. Your online banking login credentials will not change, and you will not see any disruption to our site, your accounts, online banking, mobile banking, bill pays, direct deposits, etc.

Our Commitment to You

Although our name and logo will be changing, our products, services, locations, and loyalty to you will not. We will continue supporting Utah’s schools, businesses and families, and we will always support you. We are growing, but we will remain the caring, community-based credit union you know and trust.

Our Ties to the U of U

We were born on the U campus, and we will always stay connected to the University of Utah. We'll continue supporting the U through scholarships, sponsorships, events, and all of our branches/ITMs on campus.

We're so proud of our university roots, and we'll continue supporting education as we grow.

Looking to the Future

New Look, Same Commitment to You

We are becoming a bigger, stronger financial institution. As we expand, our ability to serve your personal needs, along with the greater needs of the community, is growing, too. We have more means and, with more branches coming, more opportunities to serve you. Our growth gives us more chances to show you that, no matter what our name is, our commitments to you and to Utah will never change.

We are local, we are loyal, and we’re rebranding so that we can better satisfy your need for comprehensive financial care. We’re changing our name so that our commitment to you will be defined in our name, bolstered in our branches, and proven in every interaction.

In the next several months, you’ll see our new brand at our branches, in our communications, on our billboards, and on TV. You’ll be watching us grow, and as you see that development, remember that we’re growing for you! We’re stepping-up so that we can remain connected to you and our Utah communities. We’re stepping up so that we can put you first.

Thank you for your membership, thank you for your trust, and thank you for growing with us. We can’t wait to show you all the ways it’s getting even better at UFirst Credit Union.

Thank You for Growing With Us!

UFirst Credit Union | It's Better Here (2024)

FAQs

Which credit union matters most? ›

Compare the Best Credit Unions
Financial InstitutionWhy We Picked It
Blue Federal Credit UnionBest Overall
Liberty Federal Credit UnionBest for Checking
Alliant Credit UnionBest for a Savings Account
Service Credit UnionBest for Military Individuals & Families
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What is the old name for UFirst Credit Union? ›

University Federal Credit Union is now UFirst Credit Union, a name that matches the most important part of our promise to you– putting you first, no matter what.

Are credit unions less likely to fail? ›

Both can be hit hard by tough economic conditions, but credit unions were statistically less likely to fail during the Great Recession. But no matter which you go with, you shouldn't worry about losing money. Both credit unions and banks have deposit insurance and are generally safe places for your money.

What is one reason that a credit union is better than a bank? ›

Why Choose a Credit Union? Lower interest rates on loans and credit cards; higher rates of return on CDs and savings accounts. Since credit unions are non-profits and have lower overhead costs than banks, we are able to pass on cost savings to consumers through competitively priced loan and deposit products.

Which credit union gives the best interest rates? ›

Best Credit Union CD rates 2024
  • Pentagon Federal Credit Union: APYs: 4.20% (1 year); 3.60% (3 years); 3.50% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
  • Connexus Credit Union: APYs: 5.01% (1 year); 4.21% (3 years); 3.51% (5 years); Term range: 1 - 5 years; Minimum to open: $5,000.
Jan 26, 2024

How to tell if a credit union is good? ›

How to Choose a Credit Union: Top Ten Factors to Consider
  1. Rates and Fees. Credit unions (CUs) offer lower rates and fees on most of their products. ...
  2. Outstanding Customer Service. ...
  3. Community Focus of Credit Unions. ...
  4. Apps and Technology. ...
  5. ATMs and Branch Locations. ...
  6. Security and Insurance. ...
  7. Assess Your Needs. ...
  8. Check Eligibility.
Sep 12, 2019

What is the 1st largest credit union? ›

Navy Federal Credit Union

What does the bank Ufcu stand for? ›

United Federal Credit Union (UFCU) is an American federally chartered credit union based in St. Joseph, Michigan. Originally chartered in 1949, UFCU has more than 194,000 Members in all 50 states and the District of Columbia. The credit union assets in excess of $4.0 billion as of April 2024.

What is the mission of UFirst Credit Union? ›

UFirst Credit Union is a values-based, full-service financial co‑operative serving the needs of more than 100,000 member-owners and their communities. Since 1956, our mission has been to create a positive impact on our community and to make a difference for every member, every day.

What happens if your credit union collapses? ›

If a credit union is placed into liquidation, the NCUA's Asset Management and Assistance Center (AMAC) will oversee the liquidation and set up an asset management estate (AME) to manage assets, settle members' insurance claims, and attempt to recover value from the closed credit union's assets.

Is my money safe in a credit union if the economy crashes? ›

Money deposited into bank accounts will be safe as long as your financial institution is federally insured. The FDIC and National Credit Union Administration (NCUA) oversee banks and credit unions, respectively. These federal agencies also provide deposit insurance.

What are the negatives of a credit union? ›

Credit unions tend to have fewer branches than traditional banks. A credit union may not be close to where you live or work, which could be a problem unless your credit union is part of a shared branch network and/or a large ATM network such as Allpoint or MoneyPass.

Who are the top 5 credit unions? ›

Here are some of the country's top credit unions:
  • Alliant Credit Union. Alliant offers an above-average interest rate for savings. ...
  • Consumers Credit Union. ...
  • Navy Federal Credit Union. ...
  • Connexus Credit Union. ...
  • First Tech Federal Credit Union.

Why do banks not like credit unions? ›

First, bankers believe it is unfair that credit unions are exempt from federal taxation while the taxes that banks pay represent a significant fraction of their earnings—33 percent last year. Second, bankers believe that credit unions have been allowed to expand far beyond their original purpose.

Is my money safer in a credit union than a bank? ›

Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts. The FDIC insures deposits at most banks, and the NCUA insures deposits at most credit unions.

What is the hardest credit union to get? ›

Progressive Credit Union - You must be recommended by another member. This might be the most unique credit union requirement, and it also seems to be the toughest.

Is it better to bank with a big bank or credit union? ›

The Bottom Line. Credit unions can be ideal for a low-interest loan, lower mortgage closing costs, or reduced fees, but you'll need to qualify for membership. Larger banks may offer you more choices regarding products, apps, and international or commercial products and services, and anyone can join.

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