Granite Credit Union celebrates 90 years of service

In 1935, seven educators from Granite School District got together to form a credit union for teachers in the district. This year, Granite Credit Union is celebrating 90 years of service, marking nearly a century of dedication to its members and the community.

With its roots as a small financial cooperative, GCU has become an institution with a commitment to integrity and innovation, values that are the cornerstone of the company. GCU Marketing Director Spencer Carver said the organization is now located in 10 Utah counties and has planned a year full of celebrations and events to benefit members, educators and the community.

“We are going to be awarding 90 teacher grants this year,” Carver said. “We’re excited about that. They'll be $350 each. It’s a great way for our foundation to show support for our teachers. We started with seven teachers inside the Granite School District so that’s a great way to give back.”

The GCU Foundation will also award four scholarships to high school seniors. GCUF President Mary Woodard said promoting financial literacy is key but she knows education is a great equalizer. Giving people the opportunity to help pay for school is important to the foundation. 

“Our focus is on scholarships and teacher grants, but then we also provide community resources,” said Mary Woodard, GCUF president. “Community resource fairs, career fairs and financial literacy is a big part of it.”

GCU recently celebrated the grand opening of two locations. The new Sandy branch at 9383 S. 700 East was relocated from the Quarry Bend Walmart office where GCU was housed for nearly 18 years. The second location is at the Latino Mall in West Valley City, inside Rancho Market at 2470 S. Redwood Road. 

Rancho Market’s founder and CEO Eli Madrigal has worked with GCU to provide her customers access to financial services inside the stores. Along with branches in Ogden and Rose Park, GCU now has a presence in three Rancho Market locations.

“[Eli] was really excited that we reached out to her,” said GCU Director of Community Relations Ileana McDonald. “Granite Credit Union has acknowledged that need in the community…We’re catering to cultures that might not be getting the services they could have and serve the underserved.”

GCU partners with nonprofit organizations, like the Utah Hispanic Chamber, to provide financial education events that reach minority populations. McDonald said even people who came here from another country years ago still need help figuring out financial terms, processes and procedures.

“They know they have an open space where they can ask those questions without being embarrassed,” she said. “I even had a situation where I was teaching a woman how to use a credit card.”

As GCU moves toward its century mark, ideas for inclusion and outreach are underway to reach a bigger audience across the state. Whether it’s through supporting teachers and education or providing scholarships and financial literacy programs, GCU is building the future it wants to see. 

“Our official [anniversary] is on May 15,” Carver said, “but we’re going to celebrate throughout the whole year with different offers for our membership and different ways to celebrate for team members who have helped make this strong.”