Deseret First Credit Union and The Church of Jesus Christ of Latter-day Saints have a relationship that extends more than half a century. And to think it all started in a small office on the fourth floor of the Church Administration Building.
Today’s Deseret First was known in 1955 as the LDS Church Office Credit Union. Here’s how it began:
-On July 5, 1955, the First Presidency of the Church approved a proposal that a credit union be organized for Church office employees. An organizational meeting was held later that month in which officers of the credit union were elected. One of them was Gordon B. Hinckley. The LDS Church Office Credit Union had 71 members with $697 in savings and $200 in loans in the first month’s operation. By the end of 1955, those numbers had grown to 196 members and $8,265 in savings and $9,028 in loans. The credit union was on its way.
-In 1974, the credit union changed its name to LDS Church Employees Credit Union. Other big changes occurred in the 1980s when membership eligibility was extended to all members of The Church of Jesus Christ of Latter-day Saints, and the credit union became known as Deseret First Credit Union.
-Today, Deseret First is a full-service financial institution with $420 million in assets serving 53,000 members and employees of the Church and its affiliated businesses throughout the world.
-Deseret First now has 10 branches in Utah and partners with 5,000 partner branches and nearly 30,000 CO-OP Network ATMs across the United States and several other countries.
We are proud of our heritage and look forward to continue serving the LDS community.