Wasatch Peaks Credit Union

What Wasatch Peaks Credit Union does

Wasatch Peaks Credit Union (legal name: Wasatch Peaks Federal Credit Union) is a federally chartered, member-owned financial cooperative founded in 1930 and headquartered at 4723 Harrison Blvd in Ogden, Utah. As of end-2025, the credit union reported $631 million in total assets, $530 million in loans to members, $497 million in member deposits, $4.65 million in net income, and 31,660 members, ranking 11th-largest among Utah's 54 credit unions. Member capital equals 10.6% of assets, placing the institution in the NCUA's well-capitalized category.

The credit union's product platform spans deposit products (savings, checking, money market, certificates, IRAs, HSAs, Christmas Club accounts), consumer lending (auto, RV, boat, ATV/UTV, motorcycle, snowmobile, personal, secured), mortgage products (conventional, construction, refinance, land/lot, FHA/VA/USDA/jumbo, HELOC), four credit card variants (Summit Rewards, 1.5% Cash Back, 1% Cash Back, No Cash Back), business services (accounts, SBA loans, lines of credit, merchant services, wire transfers, business credit cards), and insurance referrals. Distribution combines a multi-branch Ogden-area retail footprint, an online banking platform, a mobile app with mobile deposit and mobile wallet support, CardNav card management, and access to the Co-Op shared branching network of 5,000+ nationwide locations.

Revenue is generated primarily through net interest income on the $530 million loan portfolio (net interest spread between loan yields and deposit costs), supplemented by credit card interchange, member service fees (safe deposit box, wire transfers, notary, overdraft), insurance referral commissions, and merchant services revenue. The credit union distributes via direct-to-consumer channels with notable institutional embedding through the Wasatch Peaks Foundation, which includes a $2 million pledge to the OTECH Pathway Building, $420,000 in 2025 community giving, 113 volunteer staff contributing 1,700+ service hours, and direct grant partnerships with the Federal Home Loan Bank of Des Moines.

Name

Wasatch Peaks Credit Union

Legal name

Wasatch Peaks Federal Credit Union

Website

https://wasatchpeaks.com

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

51–100 employees

Short description

Wasatch Peaks Credit Union is a federally chartered, member-owned financial cooperative founded in 1930 in Ogden, Utah, serving 31,660 members across Weber County and Northern Utah with deposits, consumer and business loans, mortgages, credit cards, and digital banking services.

Ownership category

akta.pro rank

Headquarters

HQ city

Ogden

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income — Loan Portfolio: The primary revenue driver is net interest income from the loan portfolio. As of end of 2025, Wasatch Peaks held $530 million in loans to members out of $631 million in total assets. The loan portfolio includes auto loans (as low as 4.99% APR), RV loans (7.14% APR), mortgages (6.557% APR 30-year), HELOCs (7.25% variable), personal signature loans (12.00% APR), and business loans. Revenue is generated through interest charged on these lending products.
2. Member Deposits — Checking & Savings: Revenue is generated from member deposit accounts including Free Checking, Peaks Perks Checking, Youth Checking, Savings Accounts, Kids Savings, Money Market Accounts, Certificates, IRAs, Health Savings Accounts, and Christmas Club accounts. The credit union held $497 million in member deposits as of end of 2025. Revenue is derived from the spread between interest paid on deposits and interest earned on loans.
3. Credit Card Interchange & Fees: Revenue from credit card products including Summit Rewards Visa, 1.5% Cash Back Visa, 1% Cash Back Visa, and No Cash Back Visa for both personal and business customers. Income is generated through interchange fees on card transactions.
4. Fee-Based Services: Revenue from various fee-based services including wire transfers, merchant services for businesses, safe deposit box rentals (ranging from $7.50 to $50.00 annually), notary services for non-members ($3/notary), credit card late fees, and overdraft transfer fees.
5. Insurance & Protection Products: Revenue from referral or commission income on insurance products offered through the credit union including auto insurance, home insurance, life insurance, accidental death and dismemberment insurance, and Medicare plans.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Wasatch Peaks Credit Union is a federally chartered, member-owned financial cooperative that provides retail and small-business banking products to members in Weber County and Northern Utah. Core offerings include deposit accounts (savings, checking, money market, certificates, IRAs), consumer and vehicle lending (auto, RV, boat, ATV/UTV, motorcycle, snowmobile), residential mortgages and home equity products, personal loans, credit cards, business banking and SBA loans, merchant services, wire transfers, and partner-distributed insurance. Distribution is via physical branches, an online banking platform, a mobile app, and the Co-Op shared branching network.

Product overview

Wasatch Peaks Credit Union is a member-owned financial cooperative offering a comprehensive banking platform with multiple product categories serving personal, business, and youth members. The core platform centers on deposit products (savings, checking, certificates, IRAs) and lending (vehicle loans, home mortgages including conventional, construction, and government-backed FHA/VA/USDA options, personal loans, and business loans). The credit union differentiates through multiple credit card variants (Summit Rewards, cash back tiers), a distinctive Home$tart Grant program providing $15,000 down payment assistance to first-time buyers, and digital banking services including online, mobile, and Mobile Wallet integration with Apple Pay/Google Pay/Samsung Pay. Additional services include insurance products, merchant services, wire transfers, notary services, safe deposit boxes, financial planning, and the Wasatch Peaks Foundation for community scholarships. The portfolio functions as a unified credit union offering rather than separate product modules.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts Core savings account products including regular savings, Kids Savings, Budgeter Sub-Accounts, Money Market, Health Savings, and Christmas Club accounts for personal banking members in Northern Utah.
• Checking Accounts Personal checking products including Peaks Perks Checking (rewards), Youth Checking, and Free Checking, paired with a Visa Debit Card for consumer members.
• Certificates of Deposit Certificate of deposit accounts offering fixed returns and higher interest rates than traditional savings accounts for personal members.
• Individual Retirement Accounts (IRAs) Traditional and Roth IRA options for retirement savings offered to personal members.
• Auto Loans Vehicle financing for new and used automobiles with competitive rates (as low as 4.99% APR for 48-month term).
• RV Loans Recreational vehicle financing for motorhomes and campers with flexible terms (7.14% APR for 60-month term).
• Boat Loans Marine vessel financing for boats and watercraft purchases.
• ATV/UTV Loans All-terrain and utility terrain vehicle financing for recreational and utility use.
• Motorcycle Loans Motorcycle financing for new and pre-owned bikes.
• Snowmobile Loans Snowmobile financing for winter recreational vehicles.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity allowing homeowners to access funds as needed (3.50% introductory APR for first 6 months, then 7.25% variable).
• Conventional Mortgage Loans Standard mortgage products for home purchases with fixed and adjustable rate options (30-year fixed at 6.557% APR; 15-year fixed 5.949–6.453% APR).
• Construction Loans Short-term financing for residential construction projects.
• Mortgage Refinance Loans Home loan refinancing options to lower interest rates or change loan terms.
• Land / Lot Loans Financing for unimproved and improved land purchases.
• FHA / VA / USDA / Jumbo Loans Government-backed and jumbo mortgage programs including FHA, VA, USDA rural loans, and high-balance conventional mortgages.
• Summit Rewards Visa Rewards credit card offering points or miles redeemable for travel, merchandise, or cash back.
• 1.5% Cash Back Visa Credit card providing 1.5% cash back on all purchases with no annual fee.
• 1% Cash Back Visa Credit card providing 1% cash back on all purchases.
• No Cash Back Visa Basic credit card with no rewards, providing simple access to credit.
• Personal Signature Loans Unsecured personal loans based on creditworthiness without collateral requirements (12.00% APR).
• Secured Loans (Share & Certificate Secured) Loans secured by savings or certificate accounts as collateral.
• Business Accounts (Checking and Savings) Business banking deposit products including Business Savings and Business Checking accounts for local Northern Utah businesses.
• Business Loans (Lines of Credit and SBA Loans) Commercial lending products including Lines of Credit, SBA Loans, and Secured Business Loans for small business financing.
• Merchant Services Payment processing services for business merchants to accept credit card and ACH transactions.
• Business Credit Cards Business credit card products for business members, including No Cash Back and 1.5% Cash Back variants.
• Wire Transfers Domestic and international wire transfer services for consumer and business members.
• Auto Insurance Vehicle insurance products offered through partnership to consumer members.
• Home Insurance Property insurance products offered through partnership for homeowners.
• Life Insurance Life insurance products offered through partnership for member protection.
• Medicare Insurance Medicare-related insurance products offered through partnership for eligible members.
• Home$tart Grant First-time home buyer grant providing $15,000 in down payment or closing cost assistance, forgivable after five years of primary residence occupancy.
• Financial Planning Services Planning services to help members set and achieve financial goals, including retirement planning.
• Wills & Trusts / Estate Planning Estate planning resources and referrals to help members create wills and trusts.
• Safe Deposit Boxes Secure storage boxes available in seven sizes at branch vault locations, leased annually ($7.50 to $50.00 annual lease price depending on size).

Quantifiable outcome

• $631 million in assets and $4.65 million net income (2025)
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Federal Home Loan Bank of Des Moines (FHLB Des Moines)coreStrategic or Co-development Partner · 6 May 2025The Wasatch Peaks Foundation, in partnership with the Federal Home Loan Bank of Des Moines, awarded $209,000 to nine organizations across northern Utah. The joint grant program was administered through FHLB Des Moines' community investment initiative to strengthen housing and economic development in the region.
• Ogden School FoundationcoreStrategic or Co-development PartnerThe Ogden School Foundation and Wasatch Peaks united to combat student food insecurity through a $50,000 donation from Wasatch Peaks. The funds support food pantries at Ben Lomond High, Ogden High, OTECH High, and the Family Support Center at Odyssey Elementary. In just two months, these pantries were accessed over 2,500 times with over 2,000 food items distributed. Wasatch Peaks' Executive Vice President serves on the Ogden School Foundation's board.
• Weber School FoundationcoreStrategic or Co-development PartnerWasatch Peaks collaborates with the Weber School Foundation to strengthen local education through scholarships and direct student support. The Weber School Foundation co-selected Wasatch Peaks for the Sue Westenskow Education Award, recognizing the credit union's meaningful contributions to Weber School District students.
• Ogden School DistrictcoreStrategic or Co-development PartnerWasatch Peaks supports Ogden School District through food pantries at four teen/resource centers and Fremont High School (over $100,000 invested), financial literacy lessons, job interview workshops, event volunteerism, and sponsorship of personal financial literacy software for every high school student across eight northern Utah counties.
• Trails Foundation of Northern Utah (TFNU)minorGTM or Marketing PartnerWasatch Peaks offers a membership affiliate association with the Trails Foundation of Northern Utah (TFNU), providing members exclusive benefits and access to TFNU programs and services.
• Ogden's George S. Eccles Dinosaur ParkminorStrategic or Co-development PartnerThe Wasatch Peaks Foundation invested over $12,000 to support the renovation of the Bone Cabin Outpost Education Building at Ogden's George S. Eccles Dinosaur Park. The donation created a more welcoming, accessible, and interactive space for children, families, students, and school groups to explore paleontology through hands-on educational experiences. Darren Moore, VP of Information Technology at Wasatch Peaks, serves on the Dinosaur Park's Board of Directors.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• America First Credit Union: Largest credit union in Utah and one of the largest in the U.S., offering a comparable full suite of consumer deposits, lending, mortgages, credit cards, and business banking to Utah members. Directly comparable product set with much larger scale.
• Alliant Credit Union: Large national digital-first credit union offering high-yield deposits, mortgages, auto loans, and credit cards with no geographic field-of-membership restrictions. Comparable full product suite but national scale and primarily digital delivery.
• Discover Financial Services: Direct bank and card issuer offering cash back credit cards, savings, personal loans, and mortgages. Comparable credit card and personal loan products that compete directly with Wasatch Peaks' Visa cards and personal signature loans at a national scale.

Direct peers

• Mountain America Credit Union: Utah-headquartered credit union serving individuals and businesses with deposits, mortgages, auto loans, and credit cards. Direct peer in the same Utah cooperative banking market with similar member-owned structure and product mix.
• Goldenwest Credit Union: Utah-based community credit union offering consumer and business banking, mortgages, vehicle loans, and credit cards. Comparable community-cooperative model serving overlapping Northern Utah geography.
• Utah Community Credit Union: Provo, Utah-based community credit union offering savings, lending, mortgages, and business banking to Utah residents. Direct competitor in the Utah community credit union space with similar member-owned positioning.
• Deseret First Credit Union: Utah community credit union providing personal and business banking, mortgages, auto loans, and credit cards. Comparable cooperative model and product offering serving the same Utah market.
• Cyprus Federal Credit Union: Salt Lake City-based federal credit union offering consumer and commercial banking products including mortgages, auto loans, and credit cards. Comparable federally chartered credit union serving the same Utah member base.

Emerging players

• Ally Bank: Digital challenger bank offering high-yield savings, certificates, mortgages, auto loans, and credit cards. Competes for deposit and lending share with Wasatch Peaks' deposit and consumer loan products, but delivers purely through digital channels with no local branch presence.

Regional players

• University Federal Credit Union (Utah): Ogden-area institution-affiliated credit union that historically serves Weber State University and broader Northern Utah. Adjacent peer in the same geographic market with similar community credit union profile and student/youth focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

• YouTubeyoutube.com/@WasatchPeaksCreditUnion

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

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 Wasatch Peaks Credit Union