Ascent Credit Union

What Ascent Credit Union does

Ascent Credit Union is a federally chartered, member-owned credit union headquartered in Ogden, Utah, serving individuals, sole proprietors, and small businesses in Weber, Davis, Morgan, and Box Elder counties. Founded in 1957 (rebranded to Ascent in 2020) and operating from four physical branches including a Weber State University campus hub, it offers a full suite of retail and small-business banking products: deposit accounts (savings, checking, money market, CDs), consumer and vehicle loans (auto, RV, motorcycle, boat, ATV, snowmobile), mortgages and home equity products, six VISA credit-card variants, credit-builder loans (FastCash, share-secured), and business banking with Clover point-of-sale merchant services.

The technology stack centers on e-Branch online and mobile banking, mobile deposit, text banking, MessagePay loan payments, secure access code MFA, e-Wallets, Finance Manager, My Credit Manager, and My Card Rules — a conventional digital-banking platform integrated with CO-OP shared branching (5,000+ branches, 30,000+ ATMs), Scorecard Rewards, and Select Health for regulatory compliance. Revenue is generated primarily through net interest income on the loan book, deposit and transaction fees (wire, overdraft, skip-a-pay, statement copies), credit-card fees, and merchant-services residuals. The institution is NCUA-insured up to $250,000 and operated as a not-for-profit cooperative returning earnings to members via better rates and lower fees.

The defining forward strategic move is an announced merger with Goldenwest Credit Union, approved by 86% of voting members and scheduled to close November 1, 2026, under which Ascent will become Weber State Credit Union, a division of Goldenwest, expanding combined branch access to 50+ locations across Utah and Idaho.

Name

Ascent Credit Union

Legal name

Ascent Federal Credit Union

Website

https://ascentcu.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Ascent Credit Union is a federally chartered, member-owned credit union in Ogden, Utah, serving individuals and small businesses across four Northern Utah counties with deposit accounts, consumer and vehicle loans, mortgages, credit cards, and Clover merchant services, pending merger into Goldenwest Credit Union in November 2026.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Retail banking services
• Consumer lending
• Credit union deposits
• Vehicle financing
• Small business banking

Headquarters

HQ city

Ogden

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income on Loans: Primary revenue source from interest charged on loan products including auto loans, mortgages, personal loans, credit cards, and business loans. Competitive rates offered to members.
2. Deposit Account Fees: Fees from various account services including returned payment fees ($25), wire transfer fees ($20 domestic, $45 international), overdraft fees, check reorder fees, statement copy fees ($2 per statement), skip-a-pay fees ($35), and returned ACH fees.
3. Credit Card Fees: Annual fees on certain credit cards ($50 for Go2 VISA), cash advance fees (1.5% or $3 minimum), foreign transaction fees (1%), and late payment fees (up to $25).
4. Share/Demand Deposits: Members deposit savings which the credit union uses to fund loans. Pays interest on deposits (savings, CDs, money market accounts) while charging higher rates on loans.
5. Merchant Services Revenue: Revenue from merchant services through Clover payment solutions, providing point-of-sale systems to business members.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Ascent Credit Union is a federally chartered, NCUA-insured member-owned cooperative that provides consumer and small-business banking products including deposit accounts (savings, checking/debit, money market, CDs, IRAs), consumer lending (auto, RV, motorcycle, boat, ATV/UTV, snowmobile, personal watercraft, mortgage, home equity, personal, share-secured, FastCash, debt consolidation), a six-card VISA Platinum credit card portfolio, business banking (savings, money market, CDs, debit accounts, Clover merchant services), and insurance products through TruStage. Members access services via four Utah branches, e-Branch online banking, a mobile app, telephone banking, and the nationwide CO-OP shared branching and ATM network.

Product overview

Ascent Credit Union offers a comprehensive suite of financial products and services organized into three main categories: core deposit and lending products, protection products, and digital banking services. Core products include savings and checking accounts, CDs, IRAs, money market accounts, vehicle loans (auto, RV, motorcycle, boat, ATV, snowmobile, personal watercraft), mortgages (first and second), home equity lines of credit, personal loans, and lines of credit. The credit card portfolio includes six VISA Platinum cards: Go2, Go2 Secured, Cash Back, Rewards, Wildcat, and Rate Advantage. Protection products include vehicle protection (GAP Advantage, PowerBuy Equity Protection, Major Mechanical Protection, healthCAR), TruStage Insurance (AD&D, life, auto, home), and credit life/disability insurance. Business services include business savings, money market, CDs, debit accounts, and Clover POS merchant services. Digital banking is delivered through e-Branch online/mobile banking, e-Pay, e-Statements, e-Wallets, Mobile Deposit, Text Banking, MessagePay, Finance Manager, My Credit Manager, and My Card Rules. The credit union also operates a merger with Goldenwest Credit Union becoming Weber State Credit Union on November 1, 2026.

Differentiator

Problem solved

Functional benefit

Brands

• Weber State Credit Union: Future brand name post-merger with Goldenwest Credit Union, effective November 1, 2026
• Ascent CU Foundation

Products and services

• Savings Accounts

Quantifiable outcome

• Auto loan rates as low as 4.99% APR for 60-month terms
• +2 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered flagship, core, minor and supporting.

• Goldenwest Credit UnionflagshipStrategic or Co-development Partner · 1 November 2026Strategic merger partnership approved by 86% of Ascent Credit Union members. Ascent will become Weber State Credit Union, a division of Goldenwest, on November 1, 2026. Merger designed to expand product offerings, branch network to 50+ locations across Utah and Idaho, and provide economies of scale for competitive rates and lower fees. Preserves Ascent's community focus and Weber State heritage.
• TruStage Insurance AgencycoreGTM or Marketing PartnerInsurance products and programs offered exclusively to credit union members, including auto, home, life, AD&D, long-term care, and renters insurance. Backed by CMFG Life Insurance Company and other carriers. AD&D coverage includes $2,000 free coverage for all members 18+. Provides additional revenue through referral marketing.
• CO-OP Shared BranchingcoreChannel Partner/ Reseller/ DistributorNetwork partnership providing Ascent members access to 5,000+ shared branches and 30,000+ surcharge-free ATMs nationwide. Extends physical banking access beyond Ascent's 4 branch locations at no additional cost to members.
• Clover (Fiserv/SWBC)coreTechnology or IntegrationPoint-of-sale payment solutions provider for merchant services, offering Clover Go (mobile reader), Mini, Flex, and Station devices. Enables business members to accept credit/debit card payments with next-day fund transfers.
• Select HealthminorOthersSelect Health creates and publishes machine-readable files for the Transparency in Coverage Rule on behalf of Ascent Credit Union, including negotiated service rates and out-of-network allowed amounts.
• Liberty Mutual InsurancesupportingGTM or Marketing PartnerUnderwriting partner for TruStage Auto & Home Insurance Program offered to members. Members receive additional discounts for being credit union members.
• SCOREsupportingStrategic or Co-development PartnerFree business mentoring and education partnership in association with U.S. Small Business Administration, helping entrepreneurs start and grow businesses. Referenced in business resources section.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Mountain America Credit Union: Large Utah-headquartered credit union with statewide branch footprint and similar full-service consumer and business banking offerings; competes for the same employer-based and community membership pools in northern Utah.
• America First Credit Union: Largest credit union in Utah and one of the largest in the U.S.; directly competes with Ascent in the same geographic market with a comparable full-service retail product suite (deposits, mortgages, auto, business banking) and shared NCUA-insured cooperative structure.
• Goldenwest Credit Union: Direct peer and pending merger partner; a larger Utah-headquartered federal credit union that will absorb Ascent and rebrand it as Weber State Credit Union in November 2026. Comparable product mix (deposits, loans, cards), NCUA-insured cooperative model, and overlapping Utah market.
• Utah Community Credit Union: Utah-headquartered community credit union with multi-county geographic field of membership and full-service retail/banking offerings that overlap with Ascent's target market and product mix.
• Deseret First Credit Union: Utah-based community credit union serving similar Northern Utah geography with comparable consumer and business products; federally insured and structured as a member-owned cooperative.

Broad incumbents

• First Tech Federal Credit Union: Federally chartered credit union serving employer-affiliated member groups with a similar digital-first product mix (cards, auto, mortgages, deposits); a comparable for technology and product design even though membership base differs.
• PenFed Credit Union (Pentagon Federal Credit Union): Large federally chartered credit union offering similar consumer deposit, lending, and card products nationwide; useful broad-incumbent comparable for Ascent's product economics and NCUA-insured operating model even though geographic focus differs.
• Boeing Employees Credit Union (BECU): Large community-chartered credit union with a comparable cooperative model, broad consumer product suite (deposits, mortgages, auto, cards), and member-ownership governance — relevant comparable for member economics and product breadth even though its employer-affiliation and Pacific Northwest geography differ.

Emerging players

• Ally Bank: Digital-first challenger bank offering competitive deposit and consumer lending products nationwide; not a credit union but a relevant comparable on member-acquisition economics, deposit-rate competitiveness, and digital experience expectations that Ascent's members can compare against.

Others

• Discover Financial Services: Direct-to-consumer credit card issuer and digital bank; comparable to Ascent's card-issuing economics and unsecured personal lending product set, and a benchmark for digital experience expectations among members.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ascentcu
• Facebookfacebook.com/AscentCreditUnion
• LinkedInlinkedin.com/company/ascent-credit-union
• YouTubeyoutube.com/c/AscentCreditUnion

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ascent Credit Union