Members Earn Bonus Dividend For 13th Consecutive Year
OGDEN, UT: November 18, 2016 – Goldenwest announced today their members will collectively earn $1.4 million on December 31, 2016 with a bonus dividend. The Credit Union’s Board of Directors approved the dividend at a meeting held earlier this week. For 13 consecutive years, Goldenwest has collectively returned $9.375 million to members through the bonus dividend program.
“We’re thrilled with the continued loyalty and support from our members, administration and staff,” stated Bill Hart, Board Chairman. “We’re pleased Goldenwest’s success allows us to provide tangible value to members with the bonus dividend.”
The one-time dividend of 4.15% Annual Percentage Yield (APY) is paid on primary shares, secondary shares, Christmas Club shares, and IRA shares. Based on the average daily balance of shares during 2016, the bonus dividend is paid for the month of December only. The one-time dividend is paid in addition to the monthly dividend, which was declared by the Board at 0.10% APY. The total dividend paid for the month of December will be 4.25% APY.
“The active participation of members both borrowing and saving has contributed to a year of strong growth and productivity for Goldenwest,” said Kerry Wahlen, Goldenwest President/CEO. “The bonus dividend is one of the many ways we reward our members for choosing Goldenwest as their financial partner.”
Throughout 2016, Goldenwest has been celebrating 80 years of member service.
“From the beginning, our Credit Union has been a value-driven resource for the employer groups and communities we serve,” added Wahlen. “Returning profits to member-owners with the bonus dividend demonstrates our commitment to the not-for-profit financial cooperative model that the original Goldenwest organizers and members believed in so strongly.”