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Utah Community Credit Union

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Utah Community Credit Union
Credit Union
ISIN🆔
IndustryFinancial services
Founded 📆BYU Federal Employees Credit Union: 1956
Universal Campus Credit Union: 1976
Utah Community Credit Union: 2000
Founder 👔
Headquarters 🏙️, ,
Area served 🗺️
Key people
Bret VanAusdal, President, CEO
Members
Number of employees
🌐 Websiteuccu.com
📇 Address
📞 telephone

Utah Community Credit Union (UCCU) is a not-for-profit financial institution headquartered in Provo, Utah.

UCCU was founded in 1956 as a not-for-profit financial cooperative that would be owned by the people it serves and dedicated to the ideal of People Helping People. Over the next six decades, UCCU has grown to become over $1.25 billion in assets strong, with 18 branches serving over 150,000 members in Utah and across the globe.

About Utah Community Credit Union[edit]

UCCU is a not-for-profit credit union built on the ideal of People Helping People. The financial institution is and always been owned by its members and led by a volunteer board of directors.

Vision Statement
To be the best credit union in our market by becoming our members' first choice for financial services and information.

Corporate Values
In addition to being an organization rooted in the credit union philosophy of People Helping People, UCCU is built on traditional values of commitment to outstanding service, respect for others, and fiscal responsibility. We hold ourselves to the highest standards of honesty, professionalism, and integrity and are committed to achieving excellence in operations, products, and member service. UCCU is also dedicated to supporting and improving the communities it serves. Always not for profit, always owned by its members, always will be.

UCCU's Promise
Being a member of UCCU means having all the resources of an entire financial institution, solely aligned to help you and your family reach your financial goals and dreams. This is a place where people help each other. Helping people with the biggest financial decisions of their lives and all the little ones along the way. Helping people with trusted guidance and counsel and compassion and understanding during difficult times. Helping people make smart financial decisions that can improve their lives.

History[edit]

In 1955, Briant Jacobs, a faculty member at Brigham Young University (BYU), discovered a new concept that would allow members - not stockholders - to own shares in their financial institution. Less than a year later, Briant and six of his co-workers each contributed $5 out of their own pockets to found BYU Employees Federal Credit Union. With seven members and $35.00 in assets, these founders opened a small "branch" with a table on a stair landing in the Harold R. Clark building on BYU campus and took turns voluntarily helping people in need of financial services.[1]

In 1958, the credit union got its first official address in the university's old ROTC building before moving to the Larson House. Because the credit union couldn’t afford to purchase a vault, cash was kept in a locked room and placed in a cast iron bathtub, covered with a sheet of asbestos to protect it from fire.

Over the next two decades, BYU Employee Federal Credit Union experienced a wealth of growth. By 1964, having grown to $2 million in assets with thirty-two hundred members, the credit union moved to a new office in the recently constructed Wilkinson Student Center on BYU campus. Over the next several years, upon adding key people and expanding the services and products offered - such as being the first organization of this type to convert to a computer system to record day-to-day transactions and offer share-draft checking accounts - the credit union grew to $14 million in assets and out-grew the Wilkinson Center office.

In 1976, with a staff of 30 full-time employees and assets of $25 million, the credit union moved off campus to its new Stadium Branch office, expanded its field of membership, and changed its name to Universal Campus Credit Union.

During the 1980s, UCCU's assets grew to over $100 million, employees grew to over 100 and membership reached nearly 50,000. In 1985, UCCU opened an office in South Orem and by 1990, an electronic service center was opened in the Provo, East Bay area.

Over the course of the next decade, UCCU built new corporate headquarters in the Riverwoods Business Park, expanded its East Bay office to a full-service branch, and added offices in American Fork, Spanish Fork, Pleasant Grove, and North Orem. In February 2000, Universal Campus Credit Union changed its name to Utah Community Credit Union to better reflect the field of membership it serves. Branches in Springville, Payson, and Saratoga Springs opened in November of 2004.[2]

As of 2018, UCCU is over $1.25 billion in assets strong with 18 branches and over 150,000 members in Utah and across the world. Since it was founded, UCCU has never experienced an unprofitable quarter.

External links[edit]

References[edit]


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