America First Credit Union
Encyclopedia
America First Credit Union (AFCU) is a federally chartered credit union
headquartered in Riverdale
, Utah
. AFCU is the 7th largest credit union in the United States in terms of total membership and 11th largest credit union in assets in the U.S.
As of October 2011, America First has 101 branch locations, more than 550,000 members, and has over USD 5.3 billion in assets.
Eligibility for membership in America First is open to anyone who meets the following criteria: •Live, work (or regularly conduct business in), worship, volunteer, or attend school in Salt Lake County, Utah; or within a 12-mile radius of the Mesquite, Nevada U.S. Post Office.
•Live, work (or regularly conduct business in), worship, volunteer, or attend school in Utah County, or Juab County, Utah.
•Live, work (or regularly conduct business in), worship, volunteer, or attend school in Clark County, Nevada.
•Owners, employees, suppliers and their employees, or associated companies and their employees involved in the food industry, in Utah.
•Employee, or member of a Select Employee Group (SEG) or of an affiliated association in Utah.
•Member of the immediate family or household of an existing member or those eligible for membership.
•Spouse of a person who died while within the field of membership.
•Existing member of America First Federal Credit Union.
•Employee of America First Federal Credit Union or its subsidiary corporations.
, 59 members of the National Federation of Federal Employees, Local No. 650, instituted the Fort Douglas Civilian Employees Credit Union. On June 23, 1947, the finance office of the U.S. Army at Fort Douglas was moved to the Utah General Distribution Depot in Ogden, Utah, and the credit union moved with it and renamed itself Federal Employees Credit Union. In 1960, with the addition of the Naval Supply Depot in Clearfield, Utah
, the credit union was now affiliated with four military installations, the other three being the Utah General Depot, Hill Air Force Base
, and Fort Douglas. Utah-chartered credit unions began serving anyone in the state and the credit union changed its name to America First Credit Union in 1984.
In 1994, it marketed residential mortgages with incentives such as no fees for first mortgage refinancing, a quarter-point reduction in the interest rate if payments were to be deducted automatically from an America First chequing account, and a quarter-point reduction for mortgages of less than half the residence's appraised value.
Beginning in 1998, a series of legal and legislative restrictions were placed on America First Credit Union's field of membership and its ability to make business loans. In 2003, America First became federally chartered to protect its membership and serve its business members. In 2004, it opened its first branch in Summit County, Utah
, since the federal charter allows it to serve that county as well.
In 2005, it announced that it would offer Small Business Administration
loans to its members. In 2007, the credit union, many of whose members serve in the military, hosted Operation Best Wishes.
On August 12, 2009 America First acquired Las Vegas
based Community One Federal Credit Union
following its closure by the National Credit Union Administration
.
's NetWare.
In 2001, it began to offer wireless banking to its members using technology from SensCom Inc.
In 2006, it agreed to adopt Oracle Corporation
's Siebel
Branch Teller application to capture check information at the teller's terminal.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
headquartered in Riverdale
Riverdale, Utah
Riverdale is a city in Weber County, Utah, United States. The population was 7,656 at the 2000 census. It is part of the Ogden–Clearfield, Utah Metropolitan Statistical Area.-Geography:Riverdale is located at ....
, Utah
Utah
Utah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
. AFCU is the 7th largest credit union in the United States in terms of total membership and 11th largest credit union in assets in the U.S.
As of October 2011, America First has 101 branch locations, more than 550,000 members, and has over USD 5.3 billion in assets.
Eligibility for membership in America First is open to anyone who meets the following criteria: •Live, work (or regularly conduct business in), worship, volunteer, or attend school in Salt Lake County, Utah; or within a 12-mile radius of the Mesquite, Nevada U.S. Post Office.
•Live, work (or regularly conduct business in), worship, volunteer, or attend school in Utah County, or Juab County, Utah.
•Live, work (or regularly conduct business in), worship, volunteer, or attend school in Clark County, Nevada.
•Owners, employees, suppliers and their employees, or associated companies and their employees involved in the food industry, in Utah.
•Employee, or member of a Select Employee Group (SEG) or of an affiliated association in Utah.
•Member of the immediate family or household of an existing member or those eligible for membership.
•Spouse of a person who died while within the field of membership.
•Existing member of America First Federal Credit Union.
•Employee of America First Federal Credit Union or its subsidiary corporations.
History
In 1939, at Fort Douglas in Salt Lake City, UtahSalt Lake City, Utah
Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake or SLC. With a population of 186,440 as of the 2010 Census, the city lies in the Salt Lake City metropolitan area, which has a total population of 1,124,197...
, 59 members of the National Federation of Federal Employees, Local No. 650, instituted the Fort Douglas Civilian Employees Credit Union. On June 23, 1947, the finance office of the U.S. Army at Fort Douglas was moved to the Utah General Distribution Depot in Ogden, Utah, and the credit union moved with it and renamed itself Federal Employees Credit Union. In 1960, with the addition of the Naval Supply Depot in Clearfield, Utah
Clearfield, Utah
Clearfield is a city in Davis County, Utah, United States. The population was 25,974 at the 2000 census. The city grew drastically during the 1940s, with the formation of Hill Air Force Base, and in the 1950s with the nation-wide increase in suburb and "bedroom" community populations and has been...
, the credit union was now affiliated with four military installations, the other three being the Utah General Depot, Hill Air Force Base
Hill Air Force Base
Hill Air Force Base is a major U.S. Air Force Base located in northern Utah, just south of the city of Ogden, and near the towns of Clearfield, Riverdale, Roy, Sunset, and Layton. It is about north of Salt Lake City. The base was named in honor of Major Ployer Peter Hill of the U.S. Army Air...
, and Fort Douglas. Utah-chartered credit unions began serving anyone in the state and the credit union changed its name to America First Credit Union in 1984.
In 1994, it marketed residential mortgages with incentives such as no fees for first mortgage refinancing, a quarter-point reduction in the interest rate if payments were to be deducted automatically from an America First chequing account, and a quarter-point reduction for mortgages of less than half the residence's appraised value.
Beginning in 1998, a series of legal and legislative restrictions were placed on America First Credit Union's field of membership and its ability to make business loans. In 2003, America First became federally chartered to protect its membership and serve its business members. In 2004, it opened its first branch in Summit County, Utah
Summit County, Utah
Summit County is a county located in the U.S. state of Utah, occupying a rugged and mountainous area. In 2010 its population was 36,324. It is part of the Salt Lake City Metropolitan Statistical Area as well as the Salt Lake City–Ogden–Clearfield Combined Statistical Area. The county is...
, since the federal charter allows it to serve that county as well.
In 2005, it announced that it would offer Small Business Administration
Small Business Administration
The Small Business Administration is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses...
loans to its members. In 2007, the credit union, many of whose members serve in the military, hosted Operation Best Wishes.
On August 12, 2009 America First acquired Las Vegas
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
based Community One Federal Credit Union
Community One Federal Credit Union
Community One Federal Credit Union was a Las Vegas, Nevada based state chartered credit union.America First Federal Credit Union acquired Community One Federal Credit Union on August 12, 2009 following its closure by the National Credit Union Administration. At the time of closing, the credit...
following its closure by the National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
.
Technology
In 1999, the credit union used NovellNovell
Novell, Inc. is a multinational software and services company. It is a wholly owned subsidiary of The Attachmate Group. It specializes in network operating systems, such as Novell NetWare; systems management solutions, such as Novell ZENworks; and collaboration solutions, such as Novell Groupwise...
's NetWare.
In 2001, it began to offer wireless banking to its members using technology from SensCom Inc.
In 2006, it agreed to adopt Oracle Corporation
Oracle Corporation
Oracle Corporation is an American multinational computer technology corporation that specializes in developing and marketing hardware systems and enterprise software products – particularly database management systems...
's Siebel
Siebel
Siebel, originally Flugzeugbau Halle, was a German aircraft manufacturer founded in 1937 in Halle an der Saale. It was revived as Siebelwerke in 1948. In 1952, it merged with ATG to form Siebelwerke-ATG Gmbh...
Branch Teller application to capture check information at the teller's terminal.