Goldenwest Among Utah's Fastest Growing Companies
SALT LAKE CITY — August 27, 2018: Goldenwest Credit Union, a leading provider of financial services in Utah, was recently honored as one of Utah Business Fast 50 for 2018. Each year the publication names Utah’s 50 fastest growing companies based on revenue data that is analyzed for year-over-year growth for the past five years.
“We have been fortunate to have our hard work result in many successful achievements for Goldenwest,” stated Kerry H. Wahlen, Goldenwest President/CEO. “In 2012, Goldenwest operated 17 branches, served 84,000 members, and held $800 million in assets. Six years later, our organization operates 39 branches, serves 134,000 members, and holds $1.5 billion in assets. Most important, Goldenwest has maintained its financial strength and distinct return-to-member during this high-growth period.”
Wahlen added the two key events that created significant momentum for Goldenwest’s growth were the strategic mergers with USU Credit Union in 2014 and Healthcare Credit Union in 2017.
Among the Credit Union’s most innovative projects spurring its recent growth is the organization’s health insurance division.
“While providing our members with significant savings on their insurance, many business owners asked if Goldenwest could help them get better rates on group health insurance plans,” continued Wahlen. “After careful thought and consideration, Goldenwest acquired a Salt Lake City-based healthcare insurance brokerage, Benefit Management Services. With this brokerage, re-named Goldenwest Financial Services dba Goldenwest Health Insurance, Goldenwest has added more than 60 clients with group plans for health, dental, vision, life and accidental death insurance. The book of business for the brokerage now sits at $32 million.”
Wahlen says the Credit Union’s top priorities include cultivating an environment that promotes smart and sustainable growth, and implementing an innovative business plan that differentiates Goldenwest from the other financial service providers in the market.