16 Branches; 90,000 members: From humble roots in 1956 to a powerful, growing credit union

University Federal Credit Union is a member-owned financial institution established on the University of Utah campus. Since it originally opened its doors in 1956, UFCU has grown to an impressive 16 branch locations with over 90,000 members. This remarkable growth is due to the outstanding service they provide and the business-friendly environment the Credit Union has fostered over the years. Their commitment to the community has continued to be an integral part of what makes the credit union such an outstanding place to do business.

University Federal Credit Union was founded by a small group of professors to serve the financial needs of staff and faculty at the University of Utah. Dr. Roland Stucki, chairman of the Finance Department at the university, organized the Credit Union with 11 other members who joined him in signing the original charter back in July of 1956. The initial branch for the credit union was housed in the old Annex Building, but quickly grew into four separate locations on campus and 16 total branches located across Salt Lake and Davis counties.

With all of the success that University Federal Credit Union has experienced over the years, Dr. Stucki would later say, “No single person can take credit for organizing and developing the successful University Credit Union. It was a team effort, where different individuals made substantial, but different, contributions to its success.”

Today, University Federal Credit Union has expanded its membership to include anyone who lives, works, goes to school, worships or volunteers in Salt Lake County or is a relative of someone that meets that criteria. Their commitment to the community has helped the credit union to grow from its original 12 professors to over 90,000 members. As a result, in 2018, UFCU achieved a new milestone when it reached over $1 billion in assets. 

To better serve the business owners and entrepreneurs of Salt Lake, University Federal Credit Union has developed innovative business financing solutions for their members. With one of the strongest economies in the country, Utah has become an important destination for startups and entrepreneurial business ventures that continue to expand. UFCU immediately recognized the need for more robust business offerings in the community and has worked diligently with local businesses to create new products tailored for expansion.

University Federal Credit Union has helped a number of local companies fund their dreams through small-business loans, commercial real estate loans and construction and equipment loans. As a result, they have been recognized by Best of State on two separate occasions as the Best Credit Union in Utah. More recently they were recognized by City Weekly in their “Best of State Commerce Edition” as the No. 1 Best Friend of Local Business and No. 2 Best SBA Lender. This is thanks, in part, to the commitment of every University Federal Credit Union employee who helps serve the local community each day by showing their members why “It’s Better Here.”

Sixty-two years later, University Federal Credit Union is still proud to serve the community at the University of Utah and beyond. The small group that initially worked so hard to help support the needs of a few individuals has quickly blossomed into a substantial number of employees working together to build a more vibrant business culture throughout Utah. Their vision for helping others has made UFCU an integral part of the community and an award-winning partner of local business.