The Utah First story began in 1935, in the aftermath of the Great Depression. German immigrants living in Salt Lake City were having trouble getting the loans they needed to bring their families to America. With no one willing to say “yes” to their credit requests, they banded together to form a grassroots credit union that would serve all members of the community. On July 23, 1935, they established the Utah German American Federal Credit Union with 23 shares totaling $115. With a strong resolve and a commitment to self-reliance, these brave Utahns created their own opportunities on their way to building a better future for all of us.
Two years later, the Credit Union changed its name to the Utah C.V. Federal Credit Union. The “C.V.” was for Chemnitzer (a city in the eastern part of Germany) Vereinigung (German for unification). The updated name further underscored the founders’ commitment to fellowship and community. Utah C.V. championed its mission to build its members’ financial futures by providing competitive rates and outstanding customer service. This name stayed for nearly 60 years. Then in 1996, it changed once more, this time to Utah First Federal Credit Union.
Although we’ve grown from just 23 shares to thousands of members and nine in-state branches, we still carry the lessons and values from the earliest days of our organization. We understand that everyone needs access to credit and, at times, everyone needs to hear a “yes” in order to advance their dreams. We still represent the Utah community and we still exist for the benefit of our members.