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About
Us

In 1962, Gibbons & Reed Construction Company employees organized Gibbons & Reed Credit Union, a financial institution that understand their unique needs as workers in the construction industry and of which each employee-member would have a share.

Today, G&R Credit Union continues to serve many of those founding members and their families in addition to a growing field of membership sharing a similar connection: employment with Granite Construction, subsidiaries, majority owned joint ventures, and their family members.

The goals of G&R Credit Union are simple:

  • To provide a limited range of savings and loan services on a personal and friendly basis.
  • To generate earnings to maintain sufficient reserves and protect the members' shares (savings).
  • To return excess earnings to the members in the form of higher dividends on their savings and/or lower interest rates on the loans offered.

The Credit Union was established as an alternative avenue to local banks and other financial institutions, whereby members own the organization, thereby having a say in how it is managed through annual elections of member-officers.

Because we are a non-profit organization, income of the Credit Union is not subject to income taxes either on the federal or state level (individual earnings of members are taxable). Also, because of our non-profit status, the Credit Union does not pay sales tax on purchases.

Loans are made to our members using savings deposited by all members. Interest paid on loans is utilized to cover expenses incurred by the Credit Union, to maintain capital reserves and the remainder returned to share savings accounts in the form of dividends. The only other income to the Credit Union is interest earned on short-term investments of excess cash deposited by the members.