You Buy Local, But Should You Bank Local?

You’ve probably heard all about the benefits of buying local – the economic and environmental advantages are well-documented. But did you know that banking local can be good for you and your community as well? In fact, some of the best banks in Utah are local, member-owned credit unions. Here are 3 reasons you should bank local.

1. Support Local Economy

When you deposit your money in a local bank or credit union, your money is most likely being invested in your own community, supporting your local economy. On the other hand, when you bank with a large corporate bank, your money is likely being sent away to finance out-of-state projects or invested on Wall Street. Banking local is an investment in your community and local economy.

2. Customers Come First

With a big bank, it’s easy to feel like just another number. Often, you’re treated with a level of respect proportional to your deposit amounts. And sometimes it can feel like big banks don’t really care about your business at all. But at a local credit union, your membership matters. The atmosphere is generally much friendlier. And because the goal of a local credit union is to help members (rather than make money off of them), decisions about interest rates, fees, and loan approvals are made with you (not profit) in mind.

3. Security

All the security benefits of a big bank are present and accounted for in a local credit union as well. So, if you feel your money is safer with an out-of-state bank that’s been around for 100-plus years, think again. As long as your local credit union is backed by the National Credit Union Association, your money is guaranteed up to the same amount as it would with a big bank.

The Utah First Difference

If you’re looking for the best banks in Utah, look no further. At Utah First, you get all the benefits of a big bank with the hometown values and superior customer service of a local credit union. We’ve been serving Utah for more than 80 years. In that time, we’ve never wavered from our top priority of putting our members’ financial success first. In the past year alone, Utah First was recognized as one of America’s Best-In-State Credit Unions by Forbes Magazine. And for the fourth year in a row, Raddon awarded Utah First the prestigious Crystal Performance Award, an honor given to the top 10 credit unions in the nation. These accolades speak to our financial strength. But they also underscore our core values of putting people and community first. To learn more about Utah First or to become a member, visit us online or at any one of our branch locations.

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200 E South Temple
Salt Lake City, Utah 84111
Monday - Friday: 9:00 am - 5:30 pm
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Routing & Transit Number: 324079500
NMLS # 446035

Utah First Federal Credit Union is federally insured
by the National Credit Union Administration.