What is a Credit Union?

Credit Unions are cooperative, not-for-profit, financial institutions that are owned by the people who use its services. These people, the Credit Union Members, all have something in common, such as where they work or live. Unlike a bank with a paid board of directors, Unified People's Federal Credit Union is governed by volunteers who are elected by their fellow Members.

A bank is owned by and returns profits to its stockholders. The Member-Owners of Unified People's Federal Credit Union realize their profits through higher yields on their savings and investments, fewer and lower fees and better rates on loans.

Perhaps the biggest difference between Unified People's Federal Credit Union and a bank is who motivates them. At a bank, the owners are stockholders, and may not even be local. At Unified People's Federal Credit Union, we are owned by our Members, and the level of service they receive reflects their ownership status.

The History of Unified People's Federal Credit Union

The Credit Union started in 1936 as Cheyenne Union Pacific Employees Federal Credit Union. Our first office was a caboose located in the Union Pacific Railroad yard.

Our second location was the Car Men Building located on East 15th Street. We shared this office with the railroad car maintenance employees.

In 1979, the Credit Union purchased the land at our present location, 414 East 18th Street, and built a brick building. In 1998, the Credit Union added a new addition and remodeled the old building, doubling the size of the facility.