Education First Credit Union

What Education First Credit Union does

Education First Credit Union is a member-owned cooperative financial institution headquartered in Ogden, Utah, founded in 1932 as Ogden Teachers Credit Union by teachers from the Ogden School District during the Great Depression. Originally operating out of the back of a car, it has grown over 90 years to serve current and retired Ogden School District employees, students, alumni, their families, and since 2005, all residents of Weber County. The credit union is regulated by the National Credit Union Administration (NCUA) and holds approximately 10-15 staff across a single physical branch at 1250 Country Hills Dr., supported by a volunteer Board of Directors and Supervisory Committee.

The credit union operates a standard product set across four categories: deposit accounts (Share Savings, Checking, Teen Checking, Super 60 Checking, Money Market, Certificates of Deposit, IRAs, and the Ollie's Kids Club youth program); lending products (auto, recreational, signature, overdraft protection, home equity lines of credit, and mortgages); credit cards (VISA Gold with Rewards and High School Affinity Cards tied to local high schools); and digital banking services (online and mobile banking, remote deposit capture, bill payment, eStatements, account-to-account transfers, and remote card control). Digital banking is delivered through a third-party platform (Mobicint) and mobile apps on iOS and Android. Mortgage origination is delivered nationwide through a partnership with Blink Mortgage.

Revenue is generated primarily through net interest income on the loan portfolio (auto, recreational, signature, HELOC, mortgage, credit cards) and fee-based services such as wire transfers and overdraft protection, with member savings and deposit interest paid back to members. The credit union earns from 3.95% to 16.00% APR on auto loans, 9.75% to 17.99% APR on signature loans, and pays up to 4.10% APY on certificates and 3.85% APY on money market deposits. Distribution is via the single Ogden branch, digital channels, phone banking, and the Blink Mortgage reseller channel, with marketing focused on community events, referral networks, and social media engagement within the education community and Weber County.

Name

Education First Credit Union

Legal name

Education First Credit Union

Website

https://e1cu.org

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

11–50 employees

Short description

Education First Credit Union is a member-owned cooperative financial institution founded in 1932, headquartered in Ogden, Utah, serving the Ogden School District community and Weber County residents with deposits, loans, credit cards, and digital banking through a single branch.

Ownership category

akta.pro rank

NAICS

Credit Unions (52213)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Student/University Credit Unions (FSABAEAJ)

akta.pro secondary industry

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

Keywords

• Consumer banking services
• Credit union lending
• Deposit accounts
• Education community banking
• Mortgage lending

Headquarters

HQ city

Ogden

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Interest Income on Loans: Primary revenue stream generated from interest charged on various loan products including auto loans, recreational loans, signature loans, mortgages, home equity lines of credit, and credit cards. Rates vary based on loan type, term, and borrower creditworthiness.
2. Deposit Interest Payments: Credit union pays interest on member deposits including savings, checking, money market accounts, and certificates of deposit. As a member-owned institution, profits are returned to members through better rates rather than external shareholders.
3. Fee-based Services: Various fee-based services including wire transfers, overdraft protection loans, and other traditional banking services. Some core services are offered free to members.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Education First Credit Union is a member-owned cooperative financial institution that provides deposit accounts (savings, checking, money market, CDs, IRAs), lending products (auto, recreational, signature, mortgage, HELOC, credit cards), and digital banking services (online/mobile banking, remote deposit, bill pay, card controls) to its members. The credit union primarily serves the Ogden School District community and Weber County residents, with all profits returned to members through competitive rates rather than external shareholders.

Product overview

Education First Credit Union is a member-owned financial institution offering a comprehensive suite of banking products organized into five core categories: deposit accounts (Share Savings, Money Market, Checking, Teen Checking, Super 60 Checking, Certificates of Deposit, IRAs, and Ollie's Kids Club for children), lending products (Auto Loans, Recreational Loans, Signature Loans, Overdraft Protection, HELOC, and Mortgage Loans), credit cards (VISA Gold with Rewards and High School Affinity Cards with school donation feature), and digital banking services (Online/Mobile Banking, Remote Deposit, Bill Payment, eStatements, Account Transfers, and Remote Card Control). The credit union primarily serves the Ogden School District community including current and retired employees, students, alumni, and Weber County residents, with products designed to support educators and community members throughout their financial journeys.

Differentiator

Problem solved

Functional benefit

Brands

• Ollie's Kids Club: A children's savings program for ages 0-12, featuring 'Ollie Bucks' rewards and a prize 'Treestore' for kids.
• Ollie the Owl
• Yo Hablo Español

Quantifiable outcome

• Auto loan rates as low as 3.95% APR for 60-month terms
• +3 more outcomes

Named customers2 records

Segments4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

One partnership is on record.

• Blink MortgageminorChannel Partner/ Reseller/ DistributorThird-party mortgage partner enabling Education First Credit Union to offer mortgage products including FHA, VA, Conventional, refinances, and construction loans. Members can apply through the Blink Mortgage platform, allowing the credit union to offer nationwide mortgage services across all 50 states despite having only one physical branch location.

Scale indicators3 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• America First Credit Union: America First Credit Union is the largest credit union in Utah and one of the largest in the U.S., serving over a million members across multiple states. It is comparable to E1CU as a fellow Utah-headquartered credit union offering a similar suite of deposit, lending, and digital banking products, though at vastly greater scale and geographic breadth.
• Mountain America Credit Union: Mountain America Credit Union is another large Utah-based credit union serving members across multiple states with a comparable product set (savings, checking, loans, mortgages, digital banking). It is a relevant peer as another Utah-headquartered, member-owned cooperative competing for the same Ogden/Weber County household relationships.

Direct peers

• SchoolsFirst Federal Credit Union: SchoolsFirst FCU is one of the largest credit unions in the U.S. exclusively serving the education community — school employees, teachers, and their families in California. It is the most directly comparable peer to E1CU given the shared education-sector affinity, member-owned structure, and similar product mix targeted at educators.
• Granite Education Credit Union (formerly Granite Federal Credit Union): Granite Federal Credit Union is a Utah-based credit union historically serving the Granite School District community, very analogous to E1CU's relationship with the Ogden School District. The shared education-employer affinity model and community-charter structure make it a close functional peer.
• University of Utah Credit Union: University of Utah Credit Union is a Utah-based credit union serving the higher-education and broader community, offering similar deposit, loan, and digital banking products. It is a peer as another education-affiliated Utah credit union competing for similar Weber/northern Utah households.
• Desert Financial Credit Union: Desert Financial Credit Union is one of Arizona's largest credit unions, founded by teachers and still serving the education community alongside broader membership. Its origin story (educator-founded) and education-focused affinity programs (scholarships, school partnerships) make it directly comparable to E1CU's model.
• Chartway Federal Credit Union: Chartway Federal Credit Union is a Virginia-based community credit union serving education, military, and community members across multiple states. Its community-charter structure, multi-segment membership (education + geography), and full-service product mix parallel E1CU's operating model.

Emerging players

• Alliant Credit Union: Alliant Credit Union is a large digital-first credit union serving a broad national membership including education and community segments. It competes with E1CU for digitally-engaged members seeking better rates, though its scale and technology investment dwarf E1CU's.
• Connexus Credit Union: Connexus Credit Union is a digitally-focused credit union offering nationwide membership with competitive deposit and loan rates. Like Alliant, it represents the digital-first competitive threat that small community credit unions like E1CU face for rate-sensitive members.

Regional players

• Goldenwest Credit Union: Goldenwest Credit Union is a Utah-based community credit union serving members primarily in northern Utah — including the Weber County area where E1CU operates. It is a peer as another member-owned cooperative operating in the same geographic market with a comparable product offering.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/educationfirstcu
• Instagraminstagram.com/educationfirstogden
• Xx.com/education1cu
• LinkedInlinkedin.com/company/education-1st-credit-union-utah

Compliance2 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 Education First Credit Union