In mid October, 1958, 35 people met at Box Elder High School and voted to form Thiokol (Utah Division) Employees Credit Union. Membership was open to employees of Thiokol Corporation and families of Credit Union members. In November 1958, the Credit Union Board borrowed $5000.00 from Box Elder County Bank to start operations of the Credit Union from the basement of the first Board Chairman’s home. At the first Annual Meeting, held February 17, 1959, deposits totaled $14,765.98 and loans totaled $13,523.15. By July 1959, the Credit Union had rented office space at Forest and Main in Brigham City. In the following years, the Credit Union moved to office space in the bowling alley building, and then the Hansen and Associates Building on north Main. By the end of the first year of operations, assets of the Credit Union totaled $175,002.49 with 817 members. In 1967, the Credit Union name was officially changed to Thiokol Employees Credit Union. The Credit Union struggled through some very difficult years in the mid 60’s because of local economic issues, but paid a consistent dividend every year, as agreed in the original By-laws. In November, 1975, the Credit Union built and moved into a brand new building located at 20 West 700 North. The Credit Union ended the year with $1.5 million in assets and 2511 members. In February 1986 the Board voted to open membership to the community, rather than just to Thiokol employees. In 1988, the Credit Union built and moved into a new, modern facility located at 707 N Main Street. Assets reached $10.5 Million with 6818 members. In January 1990 the Credit Union opened a full time branch at the Thiokol Plant and installed its first ATM. This same year, President Rose Byington retired and Steve Christensen was named President. In 1995, the name was changed to Members First Credit Union. Assets at year end were $19.7 million with 8366 members
At the end of 1996, President Steve Christensen left the Credit Union and Brad Barber was named as President. Assets totaled $22.4 million with 8667 members. In 1999 the Credit Union initiated a new Internet website and online account access - “eTeller”. In 2005, the Credit Union moved into a beautiful new building, located at 120 E 1000 S Brigham City, with 23 employees, over 10,500 members and assets in excess of $50 million dollars. In 2007, the Credit Union opened a new full service branch on 1000 South in Tremonton, Utah. In 2017, the Credit Union opened a new full service branch in Providence, Utah. In early 2021, President/CEO Brad Barber announced his retirement after 30 years of service to the Credit Union. As we celebrate our 63rd year, we now employ 42 full and part time staff, have over 13,200 members and assets in excess of $145 million dollars. Since its inception, Credit Union growth has been constant and strong. Our continued goal is to “professionally and courteously serve the financial needs of our members, while maintaining a sound financial position”. We provide a wide variety of financial options including various deposit accounts, consumer loans, credit cards, home equity loans, electronic account access and online Bill Pay. We remain “Large enough to provide the services you need, yet small enough to provide the service you deserve”.
