As we’ve reviewed mid-year numbers, I’m pleased to report Goldenwest is on track for a successful 2012. Our loan portfolio has increased 6.2%, or $14 million, year-to-date. June was our second highest month ever for mortgage origination, with $25 million in the secondary market mortgage loans. Assets grew by 5.6% to $800.8 million. Net income increased $5.5 million during the first six months, equating to a 1.39% return on assets.

To better serve our members, we are bringing higher levels of leadership and management to our branch network. Goldenwest recently announced that three of our top-performing branch managers were promoted to Assistant Vice Presidents, or AVPs. These AVPs are assigned to work with members and employees at some of our highest-producing branches.

Chad Hyatt is one of our new AVPs. He supervises operations and business development for the Layton, Clearfield and Clinton offices. Chad joined the Goldenwest team 15 years ago as a loan officer. His credentials include managing the credit union’s centralized call center at the corporate office, and branch offices in Ogden, Clearfield, Clinton and Layton. Chad has been Goldenwest’s top-producing mortgage originator for four consecutive years.

Tonya Froerer was recently promoted to an AVP. She supervises operations and business development for the Roy, Ogden industrial park and Farr West branches. Tonya began her Goldenwest career 12 years ago on the teller line. She quickly advanced, working in every branch position possible until she was named manager in 2006. Tonya is consistently ranked among the top three mortgage originators in the organization.

Phill Wright also earned a promotion to AVP. He supervises operations and business development for southern Davis County, including the Kaysville office he currently manages. Phill will oversee the Centerville office opening next month, and the Bountiful office scheduled for completion in 2013. Since joining Goldenwest in 2004, he has reliably been among the top mortgage producers. Phill’s 25 years of mortgage experience is a valuable resource in product development, training and marketing.

Congratulations to Chad, Tonya and Phill. As we continue to grow, we look forward to promoting more employees from within our organization.

We hope you’ve found success in your endeavors through the first half of the year. We are here to help you make the most of 2012. As always, I’m happy to receive your emails at president@gwcu.org. Also, I invite you to follow me on Twitter @GoldenwestCUCEO.

Best regards,

Kerry H. Wahlen
President/CEO