DFCU

[_karl61]

Just curious - does the LDS church own this institution? I went to Deseret News and a big advertizement came up for a car loan.

I thought the Board of Directors and membership requirements were interesting.

https://www.dfcu.com/about

[_Shiloh]

Just curious - does the LDS church own this institution? I went to Deseret News and a big advertizement came up for a car loan.

I thought the Board of Directors and membership requirements were interesting.

https://www.dfcu.com/about

Not sure what you mean by membership requirements but it certainly is interesting that a bunch have worked for the Church.

[_Sammy Jankins]

Not sure what you mean by membership requirements but it certainly is interesting that a bunch have worked for the Church.

I think you have to be a member to open an account. Link

Deseret First serves members of The Church of Jesus Christ of Latter-day Saints and employees of the following organizations, along with their families

[_Sammy Jankins]

Also this isn't relevant at all, but if you go into some of their locations it smells like and looks similar to the older chapel designs.

[Guest]

Just curious - does the LDS church own this institution? I went to Deseret News and a big advertizement came up for a car loan.

I thought the Board of Directors and membership requirements were interesting.

https://www.dfcu.com/about

NO, the Mormon Corporation doesn't own Deseret Federal Credit Union (DFCU). As per the rules for credit unions, the members (account holders) own the Credit Union. Each member has one share of the Credit Union, regardless of the amount on deposit.

NO, you don't have to be a Mormon to belong to DFCU. As per their web-site Select Employee Group (SEG) people can join. Among those listed is Intermountain Health Care, who has non-Mormon employees. They also allow relatives of DFCU members to join, who may also be non-Mormon. So DFCU has a restricted membership clause that though heavily Mormonized doesn't completely exclude real humans.

[_Aristotle Smith]

NO, the Mormon Corporation doesn't own Deseret Federal Credit Union (DFCU). As per the rules for credit unions, the members (account holders) own the Credit Union. Each member has one share of the Credit Union, regardless of the amount on deposit.

NO, you don't have to be a Mormon to belong to DFCU. As per their web-site Select Employee Group (SEG) people can join. Among those listed is Intermountain Health Care, who have non-Mormon employees. They also allow relatives of DFCU members to join, who may also be non-Mormon. So DFCU has a restricted membership clause that though heavily Mormonized doesn't completely exclude real humans.

What TMB says is correct. Credit Unions always end up with segregated membership because membership is generally defined by geography or work location or both. Guess who the members are at the Orange County Teachers Credit Union? If you guess teachers who work or have worked in Orange County, CA, congratulations on your grasp of the obvious.

[_beanboots]

agree with the aforesaid.

additionally, the original name of deseret first was "LDS Church Employees Credit Union."

[_Shiloh]

What TMB says is correct. Credit Unions always end up with segregated membership because membership is generally defined by geography or work location or both. Guess who the members are at the Orange County Teachers Credit Union? If you guess teachers who work or have worked in Orange County, CA, congratulations on your grasp of the obvious.

Makes sense. Anyone around my neck of the woods can join [Large and well-known company] employees credit union. Simply a matter of geography.