President's Blog

by Kerry Wahlen, President/CEO

$3 Million Bonus Dividend for Members

November 22, 2021

Continuing an 18-year tradition of awarding bonus dividends, Goldenwest Credit Union members will collectively earn a record-breaking $3 million at the close 2021. This year’s bonus dividend payout is an increase of 36 percent over 2020.

Ongoing member loyalty and outstanding financial performance are key factors in allowing us to return $3 million to our members. The bonus dividend program is one of the top benefits members receive by choosing Goldenwest Credit Union as their primary financial institution. Goldenwest members have earned more than $20 million in bonus dividends since 2004.

The one-time dividend of 4.30% Annual Percentage Yield (APY) that will be paid on top of the stated monthly dividend of 0.05% APY. Members will earn 4.35% APY for the month of December on primary shares, secondary shares, Christmas Club shares, and IRA shares. Dividend earning amounts will vary by member based on the average daily balance in their individual share savings accounts over the 2021 calendar year.

As a member-owned institution, Goldenwest Credit Union’s mission is to strengthen the financial position our members. For 85 years, Goldenwest has provided top-quality products and services with exceptional care. During 2021, we helped thousands of members save money with lower mortgage rates and reduced originations fees. In fact, loan rates remained at near-record lows across all our lending products. And more than 10,000 auto, home, and umbrella policies have been issued or renewed so far this year with Goldenwest Insurance Services, saving our members up to 35 percent on their premiums.

In 2021, we opened two new offices – in Bluffdale on the corner of Bangerter Highway and Redwood Road, and in the beautiful SunRiver area of St George. Our branch network now includes 44 locations that provide in-person meeting and transaction experiences for our members. If remote communication is more convenient for you, our recently upgraded virtual branch gives members options to connect with our Credit Union experts via video, audio, phone, or chat.

Growth and expansion are big components of our 2022 strategic plan. We have broken ground on our first office outside of Utah – a Goldenwest Credit Union branch in Rexburg, Idaho is scheduled to open during the first quarter of 2022! We are thrilled to serve our existing members in this location, and bring new members to Goldenwest. Property has been purchased to build a branch in Springville, and we have several other sites being considered for future branch locations both in Utah and Idaho. In addition, we are in the early stages of construction on an additional building that will be part of our corporate campus in the southeastern quadrant of Weber County.

We are honored to be your Credit Union! Together, we are improving the financial lives of 160,000 members in our not-for-profit financial cooperative.

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