Desert Financial is Arizona’s largest locally owned credit union, serving hundreds of thousands of members with a variety of banking and financial services. It is a non-profit organization, rather than a for-profit business, whose ideal mission is to give back to the community and help members achieve financial health. There I will tell you who Desert Financial is, how they work, their main services, membership rules, pros, cons and why people consider Desert Financial the best credit union in Arizona.
History & Background
Desert Financial started out in 1939 as the Arizona Educational Association #1 Federal Credit Union, when 15 Arizona school teachers saved what they had to invest in a credit union to help their peers. Membership over time grew beyond teachers. In 1972, the entity was renamed Desert Schools Federal Credit Union in popularity as a multiplied club. In a similar spirit of growth and community connection, tools like Takipcimx 1000: Boost Your Instagram Reach Effortlessly empower users to expand their digital presence and engage more effectively with their audience.
Subsequently, in 2018, the credit score union changed its name to Desert Financial Credit Union to remedy confusion regarding eligibility and to indicate that it serves all Arizonans, not simplest educators.
Currently, Desert Financial oversees about $8 billion in belongings and serves close to 500,000 contributors in Arizona. It has over 50 branches and an extensive ATM network.
Mission, Values And Philosophy
What makes Desert Financial unique is its mission and core values:
It’s member-owned and operates as a non-profit: As a credit union, it belongs to its members, not to shareholders. All profits go back to the members through better rates, lower fees or dividends.
- Community engagement: Desert Financial is all about giving back. They’re dedicated to sharing their success through giving with local charities, scholarships and service organizations.
- Financial Health: They’re aces at helping members be better off, personally and financially – whether it’s through useful information and ideas in how to find money or budget properly.
Apart from being the official retail banking partner of Arizona State University (ASU), Desert Financial also engages with youth members and the university population.
Membership and eligibility
To join Desert Financial you must meet at least one of the following criteria:
- Live, work, attend school, volunteer, or worship in your Arizona service area (excluding some rural counties).
- Be a member of the immediate family of an existing member.
- Be a Desert Financial employee.
- Own a business or entity in Arizona (in certain circumstances).
The coverage area of membership involves counties such as Maricopa, Coconino, Yavapai, Gila, Pinal, and others.
Once you join, you’re eligible for all the services, programs, and benefits Desert Financial provides.
Services & Products
Desert Financial has an extensive list of products in personal, digital, business, and lending services. Here are the broad categories:
1. Banking & Deposit Accounts
Free Checking: No monthly maintenance fees, no minimum balance, and comes with full digital banking access.
- Savings & Money Market Accounts
- Certificates of Deposit / Share Certificates
- Individual Retirement Accounts
2. Loans & Credit
- Auto loans
- Home loans / Mortgages / Home equity lines (HELOC)
- Personal loans & unsecured loans
- Student loans / Education financing
- Credit card options
3. Business & Commercial Services
- Business checking
- Commercial lending
- Merchant services
- Business account tools
4. Digital & Mobile Banking
A highly rated mobile app and online banking platform for balance checks, fund transfers, bill pay, alerts, etc.
- Zelle embedded for peer-to-peer payments
- Strong ATM network and branch network access
5. Community & Member Rewards
Relationship Rewards Program: Earn points through transactions and account use, and unlock rewards.
- Scholarships and education grants
- Member giveback bonus / dividends in better years
Branches, Accessibility & Locations
Desert Financial has the “Valley” covered, with over 50 branch and surcharge-free ATM plus Co-op locations across Arizona.
One of their offices can be found at 411 N Central Ave, Phoenix, AZ 85004. They also are at 4405 E. McCallips Road in Mesa.
Desert Financial cut the ribbon to a new branch in Prescott 21 years later in August of 2024, and to show their devotion to the local community, they donated $60,000 to area charities as part of their expansion community outreach.
Their branch network provides local physical access for many Arizonans, while their online banking reaches outlying areas.
Why Most View Desert Financial as the Best Local Credit Union
Below are the underlying strengths and benefits that typically result in people opting for Desert Financial over banks or other credit unions:
1. Member-First Approach
Since there is no profit, the emphasis is on member profits, not shareholder profits. This generally means lower prices, lower fees and greater community returns.
2. Strong Community & Giving Back
With every expansion or branch opening, there are donations, volunteerism, and community programs. As an example, their Prescott branch opening featured a “Week of Giving” with substantial local donations.
3. Broad Membership & Reach
Unlike credit unions limited to a single occupation or organization, Desert Financial made eligibility available to many Arizonans, thus making it inclusive.
4. Digital & Physical Blend
They provide excellent mobile and online banking while having superior branch coverage. The digital experience ranks as one of the best from users.
5. Recognition & Awards
Desert Financial is the No. 1 credit union in Arizona, according to Forbes, among other awards.
6. Transparency & Simplicity
Their loose checking account, as an instance, charges no month-to-month fees, no minimum stability, making banking less complicated and extra convenient.
Challenges
No bank is perfect. Desert Financial has numerous strengths, but there are a couple of things to be aware of:
Physical branch presence is limited in some far-away counties — some are covered only through online banking.
As with some credit unions, some specialized financial products (such as large commercial loans) might not be as sophisticated as those from large national banks.
Growth and expansion sometimes stretch resources, branch staffing, or regional responsiveness.
But for its size, community orientation, and resources, Desert Financial copes relatively well.
How to become a member and become a member
Here’s a step-by-step, streamlined walkthrough of how to join Desert Financial:
- Let’s see if you qualify where you live.
- Stop by a local office or sign up on the internet.
- Show identification and membership application.
- You’re automatically enrolled in Relationship Rewards, unlocking benefits as you use their services.
- Take advantage of all services: digital banking, loans, ATM network, etc.
Member Stories & Testimonials
Members frequently compliment Desert Financial for:
- Personalized, friendly service
- Transparency in costs and debts
- Positive digital experience and app capability
- Community engagement
These experiences power phrase-of-mouth referrals and construct loyalty over time.
Future Outlook & Trends
In the future, here are directions in which Desert Financial will likely move:
- Further expansion into northern AZ and rural communities (they already added Prescott)
- Increased digital capabilities: more functionality in mobile app, AI-driven financial guidance
- More community sponsorships, scholarships, and local initiatives
- Competing products in mortgage, business, and wealth management
- Their mission will continue to be: blending strong local roots with new money technology.
Conclusion
Desert Financial is a credit union firmly ingrained in the state of Arizona with both the warmth of a local institution and the ability of a large financial network. Its not-for-profit structure, solid community commitments, extensive service reach, and focus on financial wellness make it a preferred option for many.
If you’re in Arizona and looking for a credit union that values members over margins, it’s hard to look past Desert Financial.
FAQ
How do I become a member of Desert Financial?
To join, you usually have to qualify for membership (which may be a matter of residence, work, or affiliation in Arizona). Then you open one of their qualifying accounts (e.g. a savings/checking account) with whatever minimum deposit they require. Membership qualifies you for their entire line of products and services.
How are prices and dividends determined?
Prices (for mortgages, loans, etc.) vary depending on creditworthiness, term and product. On deposit accounts (savings, certificates), dividends are paid according to the conditions specified for each account and are combined. Prices are subject to change and should be viewed in the “Prices” section of their website.
What is the “Member Giveback Bonus”?
Because it is a non-profit cooperative, Desert Financial gives back to its members from time to time in the form of “Member Giveback Bonuses.” In 2024, they announced a payout of $20 million in Giveback Dollars to eligible members. This makes them different from typical banks, where profits are paid to members rather than to external shareholders.
Is my money safe, and how is Desert Financial regulated?
Yes — accounts are insured by the National Credit Union Administration (NCUA) federally. They are federally chartered credit unions and are regulated under federal credit union legislation.
Additionally, they employ security measures (encryption, multi-factor authentication, monitoring) to safeguard mobile and online banking services.
