University Federal Credit Union

University Federal Credit Union (alternatively known as University Credit Union) is a federally chartered credit union headquartered in Salt Lake City, Utah, regulated under the authority of the NCUA. As of March 31, 2020, UFCU served more than 101,000 members, held over $1.2 billion in assets,[2][1] and operated 16 branches in Utah.[4]

University Federal Credit Union (UFCU)
TypeCredit union
IndustryFinancial services
Founded1956[1]
HeadquartersSalt Lake City, Utah, United States
Area served
Utah
Key people
Jack Buttars[1]
ProductsSavings; Checking; Consumer Loans; Mortgages; Credit Cards; Insurance Services; Investments
Total assets$1.2B USD (2020)[2]
Number of employees
350[2][3]
Websitewww.ucreditu.com

History

University Federal Credit Union was founded in the halls of the University of Utah (UofU) in Salt Lake City, Utah in 1956 by a group of professors. Originally chartered with 12 members, the Credit Union was created to provide banking services for UofU employees and their families. As the credit union's website cites its founding member Dr. Roland Stucki, Chairman of the Finance Department: "No single person can take credit for organizing and developing the successful University Federal Credit Union. It was a team effort where different individuals made substantial but different contribution to its success".[5]

In 2004 UFCU expanded its services to Salt Lake City metropolitan area adding new branches in several locations.[6][7]

In March, 2015, UFCU first applied experimental Interactive Teller Machines (ITM), also known as Credit Union Concierge. According to CUInsigt, "in the new ITM, regular ATM services paired with teller concierge service through real-time video which allowed more complex services that previously required personal interaction with the bank's employees.[8] In 2018, UFCU adopted Enterprise Immune System, a DarkTrace's cyber security technology to defend its online banking infrastructure against advanced hacking attacks.[4]

Community involvement

UFCU has been actively involved in the University of Utah' student life including sponsoring university events,[9] scholarships[10] and other charity endeavors.[6][11]

See also

References
  1. "A short history of University First FCU". USA Credit Unions.
  2. "University First Federal Credit Union". Banknet.
  3. Monster: About University Federal Credit Union
  4. DarkTrace:Darktrace Protects Critical Data for Credit Union
  5. Official website: About University Federal Credit Union
  6. Unews: U unveils University Federal Credit Uniion Rooftop Playfield
  7. Deseret News: Credit union opens new S.L. branch
  8. CUInsight: University Federal Credit Union unveils Utah’s first interactive teller machine
  9. X96: University Federal Credit Union "Hero of the Week"
  10. "Corner Canyon Academic, Athletic Star Emilee Anselmo Awarded Scholorship". KSL Sports.
  11. "Students receive new shoes from Santa, credit union". Deseret News.
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