Mountain America Credit Union

Mountain America Credit Union
Credit union
Industry Financial services
Founded 1934
Headquarters West Jordan, Utah, United States
Key people
 Sterling Nielsen, President/CEO
H. Floyd Tanner, Chairman
Products Savings; checking; consumer loans; mortgages; credit cards; online banking
Total assets $4.479B (Q12015)
Website macu.com

Mountain America Credit Union is a federally chartered credit union headquartered in West Jordan, Utah, regulated under the authority of the National Credit Union Administration (NCUA). Mountain America Credit Union is the second largest credit union in Utah. It is also the 12th largest credit union nationally by membership and the 24th largest by total assets. As of March 2015, Mountain America had $4.479 billion in assets, 522,661 members, native 82 branches, and more than 5,000 shared branch locations available.

History

Mountain America Credit Union is a member-owned, not-for-profit, full-service financial institution providing Savings, Checking, Consumer financing, Insurance, Retirement planning, Business services, and SBA loans. Mountain America is a federally chartered credit union, regulated by the National Credit Union Administration (NCUA), an agency of the federal government. Savings are federally insured to at least $250,000 per account and are backed by the full faith and credit of the United States Government. Mountain America was founded in 1934 as the Utah Telephone Credit Union to serve telephone workers from AT&T, Mountain Bell, Salt Lake Telephone and Western Electric. In May 1984, the credit union changed its name to Mountain America Credit Union. Later that year, Mountain America absorbed Postal Workers Credit Union and Entra Credit Union. In 1988, Mountain America merged with Utah State Credit Union, becoming the second largest credit union in Utah and setting our course as a modern, full-service financial institution.

Due to a hostile environment created by Utah lawmakers, namely a 5% proposed tax on the 3 largest credit unions in Utah, Mountain America converted from a state chartered to a federally chartered credit union in 2003, becoming Mountain America Federal Credit Union.[1] Mountain America's membership is open to residents of Salt Lake, Duchesne, Wasatch, and Uintah counties and their families as well as members of affiliated associations and employees of select employee groups. Some of their Select Employer Group (SEG)[2] affiliations include some of the world's largest companies and associations, including Marriott International, the National Consumer Council, and Walmart.

Today, their extensive network of branches and ATMs spans much of the Intermountain West, including Utah, Nevada, Arizona, Idaho and New Mexico. They also belong to an extensive shared branching network as well as several ATM networks, including the CO-OP Network, which allows members to complete surcharge-free transactions at almost 30,000 ATMs nationwide.

Mountain America donated $25,000 through the World Council of Credit Unions to fund relief efforts in Peru after the 2007 earthquake there.[3]

References

  1. ↑ Likes Being A Fed, But... Banking Wire. 19 March 2004.
  2. ↑ Mountain America Select Employer Groups".
  3. ↑ Worth Noting. Banking Wire. 7 September 2007.
This article is issued from Wikipedia - version of the 6/3/2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.