Cyprus Credit Union

What Cyprus Credit Union does

Cyprus Credit Union is a Utah-chartered, member-owned credit union founded in 1928 and headquartered in West Jordan/Salt Lake City, serving consumer and small-business members primarily across Salt Lake County and the broader Utah market through 14+ branch locations and a multi-channel digital platform. Its core product set spans deposit accounts (Dream Rewards Checking, Basic Checking, Fresh Start Checking, Dream Certificate, Share Savings, Money Market, IRA, Dollar Dog youth, Learn & Earn teen accounts), consumer lending (auto/RV/ATV/motorcycle, personal loans including Fast Funds, student loans, and a comprehensive mortgage suite with fixed-rate, ARM, FHA, VA, USDA, jumbo, and portfolio products underwritten in-house), credit cards (Low-Rate, Rewards, Cash Back, Share-Secured, Teen, and Business Rewards Visa Platinum), and a full business banking stack (checking, money market, term loans, ACH, remote deposit, merchant processing, payroll/HR).

The credit union operates on a cooperative financial model regulated by the NCUA and insured up to $250,000 per member. Revenue is generated primarily through net interest income on the lending book, supplemented by transaction and service fees, Visa interchange, insurance commissions via wholly-owned subsidiary Cyprus Insurance Services, and referral-based wealth management revenue from its LPL Financial partnership. Digital distribution runs on Home Banking, a mobile app (iOS 17+/Android 13+), text banking, mobile deposit, and the 'Muriel' digital assistance suite that combines an AI chatbot, an AI phone assistant, and in-lobby video teller machines across the branch network.

Go-to-market blends a direct-to-consumer self-serve motion (online account opening in under 5 minutes) with sales-led local relationship banking (dedicated business bankers, an in-house mortgage team, appointment scheduling). Member acquisition is anchored by a community-engagement strategy that includes a $1M five-year partnership with Stukent to bring personal finance curriculum to Utah high schools, KSL NewsRadio/FM100.3 teacher recognition, educator mini-grants and scholarships, the Show Up for Teachers initiative, and partnerships with SCORE/SBA and the Women's Business Center of Utah for small-business support. The credit union is privately held by its members, is not publicly traded, and disclosed no external equity funding.

Name

Cyprus Credit Union

Legal name

Cyprus Credit Union

Website

https://cypruscu.com

Company type

Private

Founded year

1928

Operating status

Operating

Headcount range

251–500 employees

Short description

Cyprus Credit Union is a Utah-chartered, member-owned credit union founded in 1928, serving consumer and small-business members across Salt Lake County and Utah through 14+ branches, digital and mobile banking, and the 'Muriel' AI-assisted service suite, with comprehensive deposit, lending, mortgage, Visa card, insurance, and business banking products.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

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

akta.pro secondary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Retail banking services
• Consumer lending
• Mortgage lending
• Credit union services
• Business banking

Headquarters

HQ city

West Jordan

HQ country

United States

HQ region

North America

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue stream from mortgage loans, auto loans, personal loans, home equity loans, and business loans. Competitive rates offered with emphasis on lower rates than banks.
2. Deposit Account Fees and Services: Revenue from various account fees including overdraft protection, wire transfers, and business checking transaction fees beyond free limits.
3. Credit Card Interchange: Income from Visa credit card transactions including Rewards, Cash Back, Low-Rate, and Teen card products.
4. Insurance Services: Cyprus Insurance Services, a wholly-owned subsidiary, provides vehicle, property, business, and other insurance coverage options to members through partnerships with multiple carriers.
5. Wealth Management: Investment services through LPL Financial located at Cyprus Credit Union for retirement planning, 401K rollovers, and financial planning.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels6 records

Core offering

Cyprus Credit Union is a member-owned, not-for-profit credit union offering consumer and business banking products including checking and savings accounts, mortgages, auto and personal loans, Visa credit cards, business banking and lending services, wealth management through LPL Financial, and insurance products through its wholly-owned Cyprus Insurance Services subsidiary. The institution serves Utah residents and select employer groups through 14+ branches, a digital banking platform with mobile app, AI-powered Muriel assistant, and Co-op ATM network access.

Product overview

Cyprus Credit Union is a Utah-based credit union offering a comprehensive suite of financial products and services. The core offerings include multiple checking account tiers (Dream Rewards Checking, Basic Checking, Fresh Start Checking) and savings products (Share Savings, Dream Certificate, Money Market, IRA, and youth accounts like Dollar Dog and Learn & Earn). Their loan portfolio spans auto/RV loans, personal loans including Fast Funds, student loans, and extensive home loan products including mortgages with in-house underwriting, refinance, home equity, construction loans, and first-time homebuyer programs with down payment assistance. Visa credit cards include Low-Rate, Rewards, Cash Back, Share-Secured, and Teen variants. Business services encompass checking/savings accounts, business lending, ACH management, remote deposit, merchant processing, and payroll services. Digital banking is provided through Home Banking & Mobile Banking with integrated tools for budgeting, credit monitoring (SavvyMoney), mobile deposit, and mobile wallet support. Wealth management is delivered through LPL Financial partnership. The institution also offers insurance products and AI-powered digital assistance through Muriel (In-Lobby Teller, chatbot, and AI phone assistant).

Differentiator

Problem solved

Functional benefit

Brands

• Muriel: Digital assistance platform named after Cyprus Credit Union's first full-time employee, including In-Lobby Teller (ILT) machines, AI chatbot, and AI phone assistant.

Products and services

• Dream Rewards Checking

Quantifiable outcome

• APY as high as 4.05% on certificates vs typical bank rates
• +4 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• LPL FinancialcoreStrategic or Co-development PartnerInvestment and financial planning services partnership. LPL Financial advisors located at Cyprus Credit Union branches provide wealth management, retirement planning, 401K rollovers, and investment services to members. Products are not credit union deposits and may lose value.
• StukentcoreStrategic or Co-development PartnerFive-year partnership providing $1 million commitment to sponsor personal finance classes in Utah high schools. Cyprus provides free access to Stukent's interactive Personal Finance Simulation & Curriculum to schools, teaching budgeting, taxes, credit, and more.
• KSL NewsRadio and FM100.3minorGTM or Marketing PartnerTeacher Tribute Wall partnership recognizing Utah educators. Monthly featured teachers receive prizes including $500 Visa gift card from Cyprus CU, season tickets to Hale Centre Theatre, and $250 Harmons gift card.
• Co-op Financial ServicescoreTechnology or IntegrationATM network partnership providing Cyprus members access to fee-free transactions at thousands of Co-op ATM locations nationwide. Includes shared branch services.
• SCOREminorStrategic or Co-development PartnerPartnership with SCORE and U.S. Small Business Administration to provide free business mentoring and education for members looking to start or grow businesses in Utah.
• Show Up for Teachers (Utah First Lady Abby Cox)coreGTM or Marketing PartnerInitiative recognizing Cyprus's commitment to supporting educators through the Honors in Education Award gala. VP of Relationship Development Amanda Morton accepted the award on behalf of Cyprus.
• Nebo Credit UnionminorOthersMerger reference in navigation indicating historical or ongoing relationship; Nebo CU mentioned in business services context with shared Autobooks online payments integration.
• Women's Business Center of Utah (WBCUtah)minorGTM or Marketing PartnerPartnership providing $1,000 grants to women-owned small businesses. A La Mode Boutique highlighted as one of three member businesses to receive the grant through this partnership.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• BECU (Boeing Employees Credit Union): Large community-charter credit union with branches and digital banking, comparable product suite (checking, mortgages, auto, business) to Cyprus. Useful peer for understanding how mid-to-large CUs scale member services and technology investment.
• PenFed (Pentagon Federal Credit Union): One of the largest U.S. credit unions offering consumer banking, mortgages, auto loans, and credit cards nationwide. Relevant for benchmarking scale, product breadth, and digital capabilities against a large diversified CU peer.
• Alliant Credit Union: Large national, digital-first credit union offering checking, savings, credit cards, auto loans, and mortgages with no Utah branch footprint. Comparable on consumer deposit and lending products; represents the digital-channel competitive threat to community CUs like Cyprus.

Emerging players

• SoFi: Digital-first national bank and lender offering deposit accounts, mortgages, personal loans, credit cards, and wealth management with no geographic restrictions. Represents the growing fintech/neobank competitive pressure on deposit gathering and consumer lending that community CUs like Cyprus must defend against.

Direct peers

• Consumers Credit Union: Mid-sized community credit union with consumer deposit accounts, mortgages, auto loans, business banking, and wealth services. Closely matches Cyprus in member-owned cooperative structure, product breadth, and mid-size community-CU scale profile.
• Mountain America Credit Union: One of the largest credit unions in Utah with a full suite of consumer and business banking products, branches across the Wasatch Front, mortgages, auto loans, and wealth services. Direct competitor for member relationships, deposits, and mortgage origination in the same geography Cyprus serves.
• America First Credit Union: Utah's largest credit union and the dominant community-banking competitor in Northern Utah, offering checking, savings, mortgage, auto, business, and wealth products across an extensive branch network. Cyprus competes head-to-head on consumer and small-business relationships in the Salt Lake County market.
• Deseret First Credit Union: Utah-based community credit union with similar consumer and business banking offerings, branch presence in Salt Lake County, and a comparable member-owned cooperative model. Closest direct peer given overlapping field of membership and product mix.

Regional players

• Goldenwest Credit Union: Utah-headquartered credit union serving members along the Wasatch Front with consumer, mortgage, and business banking products. Comparable community-CU model and product set; competes for employer partnerships and household relationships in overlapping Utah regions.
• Idaho Central Credit Union: Intermountain West credit union operating across Idaho and Utah with full retail, mortgage, auto, and business banking services. Comparable mid-sized, member-owned CU model; mostly out-of-footprint regional peer sharing best practices and member demographic profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cypruscu
• YouTubeyoutube.com/@KSL
• Facebookfacebook.com/CyprusCreditUnion
• Instagraminstagram.com/cypruscreditunion

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

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 Cyprus Credit Union