Mountain America Credit Union - An Overview

Based out of Salt Lake City, Utah, Mountain America Credit Union is the second largest credit union in the state, falling a bit short of America First Credit Union's assets.

The financial institution began back in 1934 as the Utah Telephone Credit Union which catered to the state's various phone companies. At some later point, utility companies joined with them, but it wasn't until 1984 when the name was changed to Mountain America Credit Union to reflect its membership's diversity. That diversity broadened even more when the Entra and Postal Workers credit unions joined the fold.

Mountain America Credit Union had another big membership jump four years later, in 1988, when the Utah State Credit Union merged with them. This added state, as well as many city and county, employees to the membership.

The goal of Mountain America Credit Union is to provide its members with a positive incentive for them to build a solid foundation and realize their financial dreams. They do this by offering a wide range of financial services to their customers. Its network extends into Arizona, New Mexico, and Nevada.

As of 2003, Mountain America Credit Union's charter changed from state to federal with a closed field of membership, which means that members have to be a resident of specific counties (Salt Lake, Duchesne, Wasatch, and Uintah).

Mountain America Credit Union has a large website providing online banking services including bill pay and eStatements. As a whole, the credit union offers the usual checking and savings accounts, as well as youth accounts, and health savings accounts. The youth accounts come in three options, children 12 and younger, young adults 13-17, and anyone 27 and younger. This last one is actually a term deposit account.

Student services are also offered, providing eligible students with checking, a VISA, education and car loans, auto insurance, and even first time mortgage loans. Several different types and combinations of services are available depending upon the need.

Mountain America Credit Union offers many loans to its membership, including auto, RV, mortgage, home equity, and personal/signature types. They also have a short term option called MyInstaCash that is for emergency situations. A member can actually apply online and have the money put directly into their account. For the first time borrower, $300 is allowed, and after that, their consumers can borrow up to $700.

Other services from Mountain America Credit Union include investment options, insurance products, a graduation registry, identity theft protection, and much more. As their goal indicated, they want to make financial dreams come true, and they really do offer a variety of money-saving opportunities and financial products to assist their customers in making their dreams a reality.