President's Blog

by Kerry Wahlen, President/CEO

$1,750,000 Bonus Dividend

November 29, 2017

Goldenwest’s strong commitment to the member-owners of our financial cooperative is evident with a $1,750,000 dividend that will be paid in December. The Board of Directors has declared a year-end Bonus Dividend of 4.20% Annual Percentage Yield (APY). Combined with the regular monthly dividend of 0.10% APY, qualifying members will earn a total of 4.30% APY for the month of December 2017.

Goldenwest has collectively returned a remarkable $11,225,000 to members with the Bonus Dividend program over 14 consecutive years. Bonus dividends have varied from year-to-year in relation to the overall performance of the Credit Union.

I’m pleased to report that 2017 has been an extraordinary year for Goldenwest, with record financial performances in lending and insurance services. Our loan portfolio now exceeds $1 billion, and the insurance division has surpassed $50 million in premium.

Goldenwest continues to be well-positioned to meet the growing needs of our membership, which is evident through the branch network expansion in the past year. With the relocation of the Providence and Centerville branches, the new Marriott-Slaterville branch, and the eight Healthcare Credit Union offices added to the Goldenwest branch network through the merger, we have grown to 38 locations from Logan to St George.

Among the things we are most proud of in our organization is that Goldenwest is a locally owned and operated Credit Union. All branch offices are located in Utah, and our 550 employees live in the communities we serve. The vast majority of our 127,000 member-owners live in the Beehive State. Our Credit Union generously supports many local events and causes. All loan approvals and other key decisions are made by people who live in Utah, and understand local needs.

Bringing your loans and insurance to Goldenwest helps our financial cooperative become stronger. Likewise, referring your family and friends to Goldenwest helps our Credit Union grow. The result boosts our local economy…producing more jobs, generating more revenue, and building better communities.

Congratulations to our employee of the month, Tonya Froerer, who has worked for Goldenwest for almost 20 years. Tonya is our Vice President of Mortgage Business Development, and also manages our South Ogden branch. She is definitely one of our Goldenwest MVPs.

It’s a beautiful and busy time of year. I wish you a happy holiday season enjoyed with the people who matter most to you!

Kerry H. Wahlen


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