What Is a Credit Union?

When choosing where to bank, most people default to the big names. But there's another option—one that may align more closely with your values and goals: a credit union.

At Deseret First Credit Union, we believe in financial institutions that serve people, not shareholders. Here's what that means—and why it matters for your family.

1. Credit Union vs. Bank: What’s the Difference?

At first glance, credit unions and banks offer many of the same services, including savings accounts, mortgages, credit cards, mobile banking, and more. The biggest difference is how they’re structured and who they’re built to serve. Banks are typically for-profit institutions owned by shareholders, which means their goal is often to generate returns for investors. Credit unions, on the other hand, are member-owned, not-for-profit cooperatives. That means when you join a credit union, you become a member-owner, and the credit union’s focus is on serving your financial needs.

Because credit unions are built around members rather than shareholders, earnings are often returned to members through better rates, lower fees, improved services, and personalized support. Credit unions are also guided by boards elected by their members, helping keep decisions connected to the people and communities they serve. In short, when you join a credit union, you’re more than a customer — you’re a member-owner.

2. Why Credit Unions Are a Natural Fit for Families

Our values matter—especially when it comes to finances. Many families look for institutions that prioritize service, stewardship, and community. Credit unions, especially faith-aligned ones like Deseret First, are built around those very principles.

At DFCU, we:

• Support mission savings and faith-based financial goals
• Offer tools to help members avoid debt and build long-term security
• Use earnings to improve member services—not boost executive bonuses
• Fund community outreach, humanitarian service, and education

3. Real Benefits for You and Your Family

When you join Deseret First Credit Union, you get:

• Lower loan rates on auto, home, and personal loans
• Higher savings yields than typical bank accounts
• Fewer fees and more forgiveness on things like overdrafts
• Personalized service from people who care about your financial well-being
• Shared values that align with your faith and family goals

And when we do well, you benefit directly—through dividends, better technology, and expanded services.

4. How to Join a Credit Union

Joining a credit union is simple. At Deseret First, membership is open to:

• Members of the Church of Jesus Christ of Latter-day Saints
• Employees of select organizations
• Family members of current DFCU members
• Residents of certain communities in Utah and beyond

Open a savings account with a small deposit, and you’re in. From that point on, you’re not just a customer—you’re a co-owner.

5. Member-Owned. Mission-Driven. Always Aligned.

In today’s financial world, many people feel invisible—trapped by fees, red tape, and impersonal service. Credit unions offer an alternative: a return to values, relationships, and mutual success.

With DFCU, you're not supporting Wall Street—you’re investing in a financial system that supports you.

Ready to Experience the Credit Union Difference?

Join Deseret First Credit Union today and bank with a partner who shares your purpose.