The Impact of Credit Unions on Utah

Dividends or Division I Donations? For One Utah Credit Union, It’s Millions for Sports Stadiums Last week, Utah Valley University (UVU) announced “the largest single gift in UVU’s history,” a $28.5 million pledge from Utah Community Credit Union (UCCU), with $20 million earmarked for a state-of-the-art soccer stadium featuring 10 luxury suites. This questionable use of credit union member – and taxpayer – resources highlights a troublesome trend within the credit union industry.

Mountain America Credit Union Sued Over Overdraft Fees A 740,000-member credit union in Utah was sued in 2019 for allegedly misleading its members about its overdraft practices and collecting millions in overdraft fees on debit card transactions that shouldn’t have been assessed.

Podcast: Three Key Takeaways About Credit Unions’ Growth In a recent podcast, American Banker’s John Heltman explored the lax rules governing credit unions that are aggressively growing, increasingly involved in riskier lending, and lacking in transparency expected of all non-profit organizations.