Originally chartered with ten members, the Credit Union was created to provide banking services for Utah State University employees and their families. In the early years, deposits and transactions literally moved from room to room and from drawer to drawer as the professors, who doubled as loan officers and accountants, worked to keep overhead costs low.
In 1962 the Credit Union hired its first full-time employee Doris Thorpe. As Director of Marketing, Thorpe’s involvement in the Credit Union sparked tremendous growth in those early years. In a 10-year span, membership rose from 40% of Utah State University employees to over 83%. Assets grew from about $50,000 in 1957 to over $1.22 million by 1968.
In 1975, ground broke to begin construction for the Credit Union’s first off-campus branch. The building, located at 695 East 1000 North in Logan, was completed in 1978.
In 1984, the Credit Union opened a small branch in the Macey’s grocery store at the south end of Logan. When Macey’s closed that location in 1992, the Credit Union purchased a building at 198 North Main Street in downtown Logan. As Credit Union membership grew, more new branches followed in Smithfield (2003), Providence (2006) and Brigham City (2007) in northern Utah.
With the intent of providing members with a more robust portfolio of products and services, along with a statewide branch network, USU Credit Union strategically merged with Goldenwest Credit Union on October 1, 2013. USU Credit Union retains its name and USU-affiliated brand as a Division of Goldenwest Credit Union.
A copy of our latest Annual Report is available in PDF format.