With roots from the 1930’s, Wasatch Credit Union stays community oriented but offers products similar to larger institutions.
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. In 1930, Alliance Credit Union was founded to serve the workers of the US Postal and Forest Services. Then, in 2011, Alliance Credit Union merged with Weber Credit Union, founded back in 1954 to serve Weber School District Employees. After another merge in 2013 with Summit One Credit Union, Wasatch Peaks Credit Union was formed.
Having come from 3 hyper-local, smaller credit unions, the new Wasatch Peaks is able to stay community- oriented but has the size to offer better financial products to more people. Today, Wasatch Peaks offers all of the same financial products as larger financial institutions.
One core value that the leadership team at Wasatch Peaks espouses is to be very involved in the communities they serve. This means that they make a point to be part of every parade and city event that they can. They take part in Cherry Days and Founder’s Day in our community every year. They are also proud sponsors of Weber High School and many of the other schools in the area.
Today, Wasatch Peaks is one of the larger credit unions in Weber County and also serves Morgan and Davis Counties. They employ 110 people locally and have 7 branches serving 32,500 people. They are a true community-committed credit union.
Jeff Shaw, Executive VP and CFO for Wasatch Peaks believes that, “Credit unions are, by definition, people helping people. Lower interest on loans and higher interest on savings make us a popular choice.” Wasatch Peaks offers a full range of consumer products, checking, savings, auto loans, mortgage loans, visa products and retirement planning.
Wasatch Peaks works with many small to mid-sized businesses. Lending decisions are made locally at the corporate offices in Ogden. They also have a large portfolio of small business accounts and do a lot of small business lending. A quick trip to the business section of their website will show video testimonials of some of the local businesses they have helped, many you will recognize.
The Pleasant View Branch on 2700 North was built in 2007 and has been part of the community for 11 years. Jake Rhees is the branch manager, overseeing the 9 other employees working at the branch. The 2700 North corridor has grown tremendously and will continue to grow. Wasatch Peaks is glad to be part of that growth.
In speaking with Jeff Shaw, EVP/CFO I learned that he has been in the Credit Union industry for 19 years and was the CEO of Weber Credit Union before assisting with the merger. He is also a resident of Pleasant View with kids attending local schools, Orion Jr. High and Weber High School. It was clear that community support and involvement are a central theme in Jeff’s life as he has been very involved in the community and he encourages his company to do the same thing.
We are grateful for Wasatch Peaks and their involvement in the community. They take the unique approach of using their advertising space in this magazine as a tool to educate and teach about financial tools and practices that can help our readers regardless of where they bank.