Desert Financial Credit Union is a

credit union A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including depo ...

based in

Phoenix, Arizona Phoenix ( ; nv, Hoozdo; es, Fénix or , yuf-x-wal, Banyà:nyuwá) is the List of capitals in the United States, capital and List of cities and towns in Arizona#List of cities and towns, most populous city of the U.S. state of Arizona, with 1 ...

, that operates 47 branches and service centers throughout Coconino, Gila,

Maricopa Maricopa can refer to: Places * Maricopa, Arizona, United States, a city ** Maricopa Freeway, a piece of I-10 in Metropolitan Phoenix ** Maricopa station, an Amtrak station in Maricopa, Arizona * Maricopa County, Arizona, United States * Marico ...

, Pinal, and

Yavapai The Yavapai are a Native American tribe in Arizona. Historically, the Yavapai – literally “people of the sun” (from ''Enyaava'' “sun” + ''Paay'' “people”) – were divided into four geographical bands who identified as separate, i ...

counties and now statewide in

Arizona Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a state in the Southwestern United States. It is the 6th largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona is part of the Fou ...

. Desert Financial remains federally insured by the NCUA (National Credit Union Administration) and in addition will be regulated by the Arizona Department of Financial Institutions, which regulates state chartered credit unions in Arizona. Desert Financial is the largest credit union in Arizona, managing nearly $8.5 billion in assets as of October 2022.

History

Desert Financial was originally named Arizona Educational Association (AEA) #1 Federal Credit Union and was chartered in 1939 to serve the financial needs of area teachers. In 1972, the credit union rebranded to Desert Schools Credit Union to better define their niche market. In 1996, they expanded their charter to serve three counties in Arizona and disregarded vocation as a membership qualifier. In 2020, Desert Financial became a statewide charter. In 2018, the Desert Schools Credit Union was renamed Desert Financial Credit Union, in order to address misconceptions that it still only served members of the education community. The rebranding was promoted during a commercial aired locally during

Super Bowl LII Super Bowl LII was an American football game played to determine the champion of the National Football League (NFL) for the 2017 season. The National Football Conference (NFC) champion Philadelphia Eagles defeated the American Football Conferen ...

, featuring Phoenix native

Alice Cooper Alice Cooper (born Vincent Damon Furnier, February 4, 1948) is an American rock singer whose career spans over five decades. With a raspy voice and a stage show that features numerous props and stage illusions, including pyrotechnics, guillot ...

and playing upon his band's 1972 song " School's Out". In 2019, Desert Financial bought the naming rights to the

Arizona State University Arizona State University (Arizona State or ASU) is a public research university in the Phoenix metropolitan area. Founded in 1885 by the 13th Arizona Territorial Legislature, ASU is one of the largest public universities by enrollment in the ...

arena and renamed it to the

Desert Financial Arena Desert Financial Arena (formerly ASU Activity Center and Wells Fargo Arena) is a 14,198-seat multi-purpose arena located at 600 E Veterans Way in Tempe, Arizona, a suburb of Phoenix. It sits immediately east of Sun Devil Stadium on the northern ...

. The agreement cost $1.5 million per year for 5 years. Desert Financial Headquarters

Membership

Desert Financial currently serves approximately 400,000 members. Individuals who live, work, worship, or attend school in the following

counties may join Desert Financial Credit Union: * Coconino * Gila *

* Pinal *

Cochise Cochise (; Apache: ''Shi-ka-She'' or ''A-da-tli-chi'', lit.: ''having the quality or strength of an oak''; later ''K'uu-ch'ish'' or ''Cheis'', lit. ''oak''; June 8, 1874) was leader of the Chihuicahui local group of the Chokonen and principa ...

(Online banking only) *

La Paz La Paz (), officially known as Nuestra Señora de La Paz (Spanish pronunciation: ), is the seat of government of the Bolivia, Plurinational State of Bolivia. With an estimated 816,044 residents as of 2020, La Paz is the List of Bolivian cities ...

(Online banking only) * Mohave (Online banking only) *

Navajo The Navajo (; British English: Navaho; nv, Diné or ') are a Native American people of the Southwestern United States. With more than 399,494 enrolled tribal members , the Navajo Nation is the largest federally recognized tribe in the United ...

(Online banking only) *

Pima Pima or PIMA may refer to: People * Pima people, the Akimel O'odham, Indigenous peoples in Arizona (U.S.) and Sonora (Mexico) Places * Pima, Arizona, a town in Graham County * Pima County, Arizona * Pima Canyon, in the Santa Catalina Mountains ...

(Online banking only) * Yuma (Online banking only) Additionally, family members of current or eligible members may also join.

Services

Desert Financial Credit Union offers a variety of financial products, including: *

Savings Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an I ...

and

Checking Accounts A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share draft account at credit unions, is a deposit account held at a bank or other financial institution. It is available to the ...

* Savings Certificate *

IRAs The Infrared Astronomical Satellite (Dutch: ''Infrarood Astronomische Satelliet'') (IRAS) was the first space telescope to perform a survey of the entire night sky at infrared wavelengths. Launched on 25 January 1983, its mission lasted ten mo ...

* Home Equity Loans *

Mortgage Loans A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any p ...

* Business Loans * Consumer and Business Platinum, Bonus, and Bonus Rewards Plus Visa Credit Cards * Vehicle and Watercraft Loans * Direct Deposit * Money Market * Internet and Mobile Banking *

Wills and Trusts Wills may refer to: * Will (law), a legal document Places Australia * Wills, Queensland, a locality in the Shire of Boulia * Division of Wills, an Australian electoral division in Victoria United States * Wills Township, LaPorte County, Indiana ...

Community involvement

Desert Financial donates an average of $5 million annually to local charities and causes, and their employees also donate and volunteer in the community on a regular basis. In 2018, the credit union established the Desert Financial Foundation as their first nonprofit entity. Halfway through 2018, Desert Financial donated $6.27 million out of a goal of $7 million for the year.

References

External links

Official websiteDesert Financial Credit Union Annual Reports
{{Authority control Companies based in Phoenix, Arizona Banks established in 1939 Credit unions based in Arizona 1939 establishments in Arizona