The Heart of Arizona: How Desert Financial Invests in Community and Member Success

In the vast expanse of Arizona, where communities thrive amidst unique challenges and opportunities, Desert Financial Credit Union stands as more than just a financial institution. It is, by its very nature, a cooperative deeply embedded in the fabric of the local landscape, dedicated to fostering both community well-being and the individual success of its members. Since its founding in 1939, this organization has carved out a distinctive path, prioritizing people over profits and sharing its prosperity with those it serves.

This isn’t a typical bank. Desert Financial operates as a not-for-profit credit union, meaning its primary goal isn’t to generate profits for shareholders. Instead, it reinvests its earnings back into its members, the community, and its dedicated team. That fundamental difference shapes everything Desert Financial does, from its financial offerings to its extensive philanthropic efforts.

This article will explore how Desert Financial exemplifies the credit union difference. We’ll examine its rich history, the tangible benefits it offers its nearly 500,000 members, and the profound impact of its community involvement initiatives across Arizona. If you’ve ever wondered how a financial institution can truly make a difference, keep reading.

What Makes a Credit Union Like Desert Financial Different?

When you choose where to bank, you often think about interest rates, fees, and convenience. What many people don’t fully grasp, though, is the fundamental philosophical divergence between a traditional bank and a credit union. It shapes every interaction and every service offered.

A traditional bank is typically a for-profit entity, owned by shareholders. Its main objective involves generating returns for those investors. Credit unions, like Desert Financial, operate on an entirely different premise. They are member-owned financial cooperatives.

This structure means that when you join Desert Financial, you become a part-owner. Your initial deposit, often a modest amount, represents your share in the organization. Profits aren’t distributed to external shareholders. Rather, they are reinvested to benefit members through better interest rates on savings, lower rates on loans, fewer fees, and enhanced services. It’s a collective model where success is shared.

The “Sharing Success” Philosophy

Desert Financial embodies a core philosophy it calls “Sharing Success.” This isn’t just a marketing slogan; it’s a guiding principle that underpins its operations. When the credit union does well, its members and the wider community benefit.

Think about it:

Member Giveback Bonuses: Eligible members can receive an annual cashback bonus, a direct return on their relationship with the credit union. In 2025, Desert Financial distributed $16 million in these bonuses, bringing the total to $106 million over the past eight years.
Better Rates: Credit unions are generally known for offering more competitive interest rates on savings accounts and lower rates on loans, meaning your money can work harder for you.
Fewer Fees: Often, you’ll find fewer and lower fees for various services compared to traditional banks.

This “Sharing Success” model fosters a strong sense of community and mutual benefit, positioning Desert Financial as a true financial partner for its members.

A Legacy of Service: From Teachers to Statewide Impact

The story of Desert Financial begins humbly, rooted in a clear vision for collective support. In 1939, fifteen Arizona educators pooled together a modest $78.75. Their goal? To create a financial institution that would serve the needs of their fellow teachers. This initial act of cooperative spirit laid the foundation for what would become Arizona’s largest credit union.

Over the decades, the organization evolved:

Early Growth: It was first known as Arizona Educational Association (A.E.A.) #1 Federal Credit Union, then rebranded to Desert Schools Federal Credit Union.
Expanded Reach: In 1996, the charter expanded beyond just educators to include three Arizona counties, removing the vocational restriction.
Modern Identity: The name changed to Desert Financial Credit Union in 2018. This was a smart move to clear up any lingering misconceptions that it *only* served the education community. Phoenix native Alice Cooper even featured in a Super Bowl commercial promoting the rebranding!
Statewide Presence: By 2020, Desert Financial became a statewide charter, extending its services and community impact across nearly all of Arizona.

Today, Desert Financial manages nearly $9 billion in assets and serves almost 500,000 members, making it a significant player in Arizona’s financial landscape. Its history is a testament to its enduring commitment to the communities it serves.

Membership Benefits and How to Join Desert Financial

Becoming a member of Desert Financial opens the door to a range of financial products and unique perks. It’s a straightforward process, built to be accessible to a wide array of Arizonans.

Who Can Join?

The membership eligibility is broad. You generally qualify if you:

Live, work, worship, attend school, or volunteer in most Arizona counties (specifically excluding Apache, Graham, Greenlee, and Santa Cruz counties).
Are an immediate family member of a current Desert Financial member.
Are an employee of Desert Financial.

It’s often easier to join a credit union than many people realize, and Desert Financial has made sure its doors are open to a vast majority of the state’s residents.

What Financial Services Does Desert Financial Offer?

Like any full-service financial institution, Desert Financial offers a comprehensive suite of banking products designed to meet diverse needs. You’ll find:

Checking and Savings Accounts: Options like Free Checking with no monthly fees or minimum balance requirements, plus competitive interest rates on various savings accounts and certificates.
Loans: This includes auto loans, mortgage loans, home equity lines of credit (HELOCs), and personal loans, often with favorable rates.
Credit Cards: A selection of Visa credit cards with different rewards structures.
Digital Banking: Top-rated online and mobile banking platforms for 24/7 account access, bill pay, mobile check deposits, and tools like Zelle®.
Investments and Insurance: Services related to investments, wills and trusts, and various insurance options.
Business Banking: Solutions tailored for businesses, including checking, savings, loans, and treasury services.

Exclusive Member Perks and Rewards

Beyond standard financial products, Desert Financial enhances membership with several unique advantages:

Relationship Rewards: This free program automatically enrolls members, allowing them to earn points for banking activities like direct deposits, maintaining certain balances, or having a loan. Higher point levels unlock more benefits.
Member Giveback Bonus: A direct result of the “Sharing Success” philosophy, qualifying members receive an annual cashback reward based on their engagement.
Refer-A-Friend Program: Members can earn a bonus for referring new individuals to the credit union.
Discounts and Partnerships: Access to deals on things like Disneyland vacations through Get Away Today or discounted tickets to shows at ASU Gammage.
Financial Wellness Resources: Free educational workshops and online content to help members improve their financial literacy and well-being.

These benefits underscore Desert Financial’s commitment to providing tangible value back to its members, a hallmark of the credit union model.

Desert Financial’s Deep Roots in Community Involvement

Where Desert Financial truly shines is in its unwavering dedication to the Arizona community. This isn’t just about corporate philanthropy; it’s about active, ongoing engagement that seeks to create lasting positive change.

Investing in Critical Community Areas

Desert Financial strategically focuses its community support on four crucial areas:

Education: A natural fit, given its founding by educators. The credit union supports schools, teachers, and students through scholarships and classroom initiatives.
Housing and Human Services: Addressing fundamental needs within the community.
Hunger and Food Insecurity: Supporting efforts to ensure all Arizonans have access to nutritious food.
Youth Development: Investing in programs that empower young people to build brighter futures.

This focused approach allows for a deeper, more impactful contribution rather than a diffused effort.

Tangible Ways Desert Financial Gives Back

The commitment to community is evident in numerous programs and initiatives:

Scholarship Programs: The Desert Financial Foundation, established in 2015, awards significant scholarships to Arizona students each year. These include Community Service Scholarships for high school seniors, Adult Learner Scholarships, and Passion to Help Scholarships for dependents of team members. In 2025, $198,000 was awarded to 62 students.
Grants to Nonprofits: The credit union provides substantial grants to local nonprofit organizations. In 2024, Desert Financial awarded $541,000 in grants to 26 nonprofit organizations, with an additional anniversary gift for its 85th year. Since 2013, over $1.5 million has been awarded to Arizona nonprofits.
Teacher Appreciation: Honoring its heritage, Desert Financial runs an “Adopt-A-Teacher” program, fulfilling classroom wish lists and hosting appreciation events.
Random Acts of Kindness: Team members regularly perform spontaneous acts of kindness throughout Arizona, injecting goodwill directly into daily life.
Employee Volunteerism: Desert Financial boasts an impressive employee volunteer rate. In 2022, team members volunteered over 15,000 hours, with 92% of staff engaged in giving back. This “Passion to Help” is a core value, leading to thousands of volunteer service hours annually.
Financial Wellness Education: Free workshops and webinars are offered to improve financial literacy for members and the broader community. These programs cover topics from saving and debt management to first-time homebuying.
Major Partnerships: Desert Financial strengthens its ties through partnerships, such as becoming the official retail banking partner of Arizona State University, and the official banking partner for the Arizona Cardinals, NAU Athletics, and NAU Alumni. The credit union even holds naming rights to the Desert Financial Arena at ASU.

These wide-ranging initiatives demonstrate a genuine, ongoing commitment to improving the quality of life for Arizonans. Organizations like St. Vincent de Paul and Jobs for Arizona’s Graduates have praised Desert Financial’s impact, noting how it helps build a community everyone wants to be part of.

Member Success: Beyond Just Transactions

Ultimately, Desert Financial’s success isn’t just measured in assets, but in the individual financial victories of its members. The credit union aims to be a partner in these journeys, providing tools, resources, and personalized support.

Personalized Service: Many members highlight the friendly, knowledgeable, and personalized service they receive, whether in branches or over the phone. This focus on individual relationships helps members feel valued, not just like a number.
Accessible Financial Solutions: With over 50 branch locations across central Arizona and access to 30,000+ surcharge-free ATMs nationwide via the Co-op network, convenience is a priority. Digital banking tools also ensure 24/7 access.
Empowering Financial Health: Through its educational programs and member-focused approach, Desert Financial helps people gain control of their finances, save effectively, and manage debt. This includes things like helping people understand how interest accrues on loans and the importance of paying down principal.

While some online reviews show concerns about specific issues like check holds or Zelle limits, the overwhelming sentiment points to positive experiences with helpful staff and a commitment to member well-being.

The Difference of Banking Local

Choosing a local credit union like Desert Financial has broader implications than just your personal finances. It creates a virtuous cycle that benefits the entire community.

When you bank local:

Money Stays Local: The dollars you deposit and the loans you take out often get reinvested directly back into the local economy through community outreach, grants, and support for local businesses and jobs.
Support for Local Jobs: Credit unions employ local workers, and their growth translates into more job opportunities within the community, often with quality benefits.
Community Impact: Your banking activities indirectly support the charitable donations, scholarships, and financial literacy programs that Desert Financial provides.

Desert Financial’s 85-year history demonstrates a steadfast commitment to Arizona. It remains federally insured by the NCUA, offering the same level of security as FDIC-insured banks. It’s a choice that reflects a desire to be part of something bigger than just a transaction – a movement of shared success and community upliftment.

Looking Ahead: A Continued Commitment

Desert Financial continues to evolve, adapting to the needs of its growing membership and the communities it serves. Its recent recognition as an “Arizona Credit Union of the Year” and receiving the “Community Impact Award” by Az Business magazine further solidifies its standing as a leader in responsible, community-focused financial services.

The credit union’s leadership emphasizes collaboration and communication, even during challenging economic times, to ensure it can continue giving back. Its investment in technology, like the D.E. voicebot to streamline common inquiries, means human representatives have more time to build meaningful relationships and address complex financial well-being needs.

Desert Financial isn’t just a place to keep your money. It’s an active participant in building a stronger, more financially stable Arizona, one member and one community initiative at a time. This commitment to “leading with heart” ensures its legacy of service will continue to flourish.

Frequently Asked Questions

Q1: What is Desert Financial Credit Union?

A: Desert Financial is Arizona’s largest credit union, founded in 1939 by 15 educators. It operates as a not-for-profit financial cooperative, meaning it’s owned by its members and reinvests earnings back into the community and member benefits, rather than distributing profits to external shareholders.

Q2: What kind of services does Desert Financial offer?

A: Desert Financial provides a full range of financial services, including free checking and savings accounts, auto loans, mortgage loans, home equity lines of credit, credit cards, investment services, and business banking solutions. They also offer robust online and mobile banking, along with a network of over 50 branches across Arizona and access to 30,000+ surcharge-free ATMs.

Q3: How does Desert Financial give back to the community?

A: Desert Financial has a deep commitment to community involvement, focusing on education, housing, hunger, and youth development. They give back through extensive scholarship programs, grants to local nonprofits, teacher appreciation initiatives, employee volunteerism, and Random Acts of Kindness. In 2024, they awarded over $541,000 in grants to nonprofits.

Q4: What are the benefits of being a Desert Financial member?

A: Members enjoy benefits such as the potential for annual cashback through the Member Giveback Bonus, competitive interest rates on savings and loans, fewer fees, and exclusive discounts on entertainment and travel. The Relationship Rewards program offers additional perks based on how members interact with the credit union.

Q5: Is Desert Financial secure, like a traditional bank?

A: Yes, funds deposited at Desert Financial Credit Union are federally insured by the National Credit Union Administration (NCUA). For up to at least $250,000 per individual, similar to how banks are insured by the FDIC. This provides members with the same level of security and peace of mind as traditional banks.