The History of Weber State Credit Union
           From the events of an age long past and now remembered by only a few, a wealth of memory can be found in our history books and libraries of the year when the chrome of the new Chevrolets was thick, and the car hop was filled with youngsters rolling their nickels into the jukebox.  1957 was also a year of uncertainty as the Cold War began gaining momentum. Sputnik, the first man-made satellite was launched into space to begin a heated race to put a man on the moon.  It wasn’t all uncertainty and Russian aerospace devises filling America’s homes and lives, though; Elvis, the King of Rock and Roll also released his hit “Jailhouse Rock” in 1957. America’s favorite television show “I love Lucy” was in its final season of production, and Dr. Seuss penned his children’s classic, “The Cat in the Hat”.  More world-changing events transpired that year, including the civil rights movement and the consequential reshaping of America that took place as schools were forcibly integrated in Little Rock, Arkansas. 

           In a year of events that shook the world, the country, and television sets, a lesser known event would transpire that would affect the lives of countless affiliates of then Weber State College.  On January 24th of 1957, in the Coral room of Building 4, the founding meeting of the credit union was held. Ten members each pledged $5.00 to a new ideal and officially organized what stands today as Weber State Federal Credit Union, though at the time it was called differently.  The Weber College Employees Federal Credit Union, as it was originally named, was founded on the principles of financial assistance and a desire to do good, and faithfully served as a center for deposits and small loans up to $200 in its humble beginnings. 

            Faculty members originally orchestrated the organization of Weber State Credit Union in answer to the inadequacies of several college funds that totaled only several thousand dollars in loanable funds.  With the continued expansion of the college, a greater resource was needed to assist the faculty and staff in making their purchases.  The idea caught on, and from the organizing date to the first Board meeting, the credit union had garnered nearly $600, and within 2 months, the credit union had nearly $1700 in deposits.

            The original credit union did not have branches, ATMs, or electronic services.  It was operated from a cash drawer and on paper from the desk drawer of Blaine Hartog, one of the founding board members and a teacher in the automotive department.  It wasn’t until 1960 that the credit union purchased its first piece of office equipment, a
4-drawer filing cabinet totaling $70.00.  By that time, total savings at the credit union grew to over $100,000 and in August of 1963, the credit union passed 300 members.

            With the sustained growth of the assets of the credit union, there arose a need for more expansion and services.  In 1964, loans limits were raised to $750 maximum to better suit the needs of the members.  By 1966, the credit union would no longer fit in the  humble desk drawer of the automotive department, and the first branch was opened in the “new” union building at a cost of $25.00 per month in rent.

            With a small office in place, the credit union was ready for stronger growth.  To gain larger deposits the credit union needed more than just regular savings accounts, and in 1974 members were given the option of opening certificates of deposit.  Within a year, the credit union swelled to over $2 million in deposits and over 1,500 members.  The credit union had begun to grow so rapidly that the board of directors began discussions over a new branch and a permanent home for the credit union.  Several options were explored around campus and on Harrison Boulevard, but after several unsuccessful attempts to acquire property, the credit union finally secured a location where the credit union still resides today at 4142 Harrison Boulevard.  With the expansion into a new building, the credit union would now have the ability to offer safe deposit boxes, a drive up window, and additional staff to assist the growing membership.  At the ground breaking of the new building, the first two shovels put to the dirt by the oldest member, and the youngest member of the credit union. The gimmick was so clever that it caught the attention of the channel 5 news station, and a camera crew was sent to capture the event.  Construction on a permanent branch had begun, and on April 12, 1979, the new building was officially opened. 

            The year of 1979 was also a big year for the credit union as restrictions on checking accounts were lifted.  Previously, only banks were allowed to issues checking accounts and checks, but no longer.  Weber State Credit Union added checking accounts to the list of products for members, and steady growth continued throughout the next few years.  As the credit union approached its 25th anniversary approached, it became clear that limiting membership to only the employees of Weber College was leaving out a large group of potential members; the alumni of the college.  In 1982, the credit union officially welcomed all former students of the college, and the expansion and growth of the credit union continued.

            In 1984 the credit union was able to add VISA credit cards to offer short-term lines of credit to members, and in 1987, VISA debit and ATM cards were added to allow members to access their checking account electronically.  The 1980s brought many other changes, like the addition of IRA products, and the first in-house computer.  Perhaps one of the biggest leaps in credit union history came in 1989 as mortgage products were finally offered to members.  The credit union had previously only made small and short-term loans, and though the credit union had nearly $10 million in total assets, the decision to add mortgages was not an easy one.  To finish the decade, the credit union completed a merger with the Bon Marche’ credit union in Ogden, and within a year the credit union passed the $15 million dollar milestone.

            The credit union growth began to gain momentum in the 1990s, and shortly after the introduction of the Internet in 1995, the credit union began offering online banking to members.  With the rapid growth of the credit union, new branches were explored, and in 1997 a teller window and drive-up branch was opened in the WSU Davis campus.  In 1999, the issue of shared ATM usage was explored, and finally an agreement was signed with the Co-Op ATM network, granting members free access to over 20,000 ATMs nationwide. 

            In 2001, a momentous event occurred as the university once again opened space in the union building for the credit union.  After a 22-year departure, the credit union returned to its home in the Shepard Union Building across from the bowling alley, only a short distance from where the original branch was opened in 1966.  During 2001, the credit union also expanded its presence into North Ogden by opening the North Branch, a select service branch with tellers, loan officers, and an ATM.

           By late 2001 the credit union had grown to over $40 million, and had once again outgrown its space. The old credit union building that served the members for over two decades had become inadequate, and failed to meet current building codes.  A difficult decision was made to demolish the old building and replace it with a newer building that could accommodate the growing needs of the credit union and its members.  In 2003, the new Main office was completed and opened to members.  During the same year, Weber State University completed its new Davis Campus, and the credit union placed a teller window inside the new building to raise the total number of branches to five.

            Over the past several years, the credit union has seen exponential growth in its membership and total size.  Additional products like the V.I.P. club, VISA Platinum cards, and Online Bill Pay have been added to meet growing member needs.  The credit union now serves over 9,000 members holding over $72 million in assets.  During this 50th anniversary year, the credit union will add its 6th branch in Roy. The last 50 years have been rich with history and change for the credit union, and with the continued support of the board, the employees, and especially the members, Weber State Credit Union will continue to be a strong presence in the community and a continued source of financial services for its members.

For assistance or questions relating to any of the products, accounts or services we offer, please call 399-9728.