Goldenwest Returns $760,000 to Members in December

OGDEN, UT: December 9, 2013 – Goldenwest Credit Union will return $760,000 to members at the end of December in the form of a bonus dividend. The Board of Directors has declared a dividend of 4.35% Annual Percentage Yield (APY) on shares for the month of December 2013. The dividend is significantly higher than the 0.10% APY paid in recent months.

The $760,000 payout marks the tenth consecutive year the Goldenwest Board of Directors has declared a year-end bonus dividend. Over the course of 10 years, Goldenwest has returned $5,875,000 to members with bonus dividends.

“Goldenwest is truly unique in Utah with our bonus dividend program,” said Bill Hart, Goldenwest Chairman of the Board. “It’s a pleasure to be part of a strong institution with a long history of providing generous returns to members.”

The 4.35% APY dividend is paid on primary shares, secondary shares, Christmas Club shares, and IRA shares. Based on the average daily balance of shares during 2013, the bonus dividend is paid for the month of December.

Goldenwest recently reached a historic milestone with assets exceeding $1 billion for the first time.

“It’s been a banner year for Goldenwest Credit Union,” said Kerry H. Wahlen, Goldenwest President/CEO. “In addition to our merger with USU Credit Union, we are projecting year-end loan growth at 7% and return on assets is estimated to post at 1.50%.”

Wahlen noted that Goldenwest’s financial strength has fueled the credit union’s expansion efforts in 2013.

“With our new Goldenwest Bountiful office and five USU Credit Union offices, we have grown to 26 branch locations from Logan to St George,” stated Wahlen. “Furthermore, we successfully implemented a new online banking system and launched mobile deposit. It’s been a great year!”

Founded in 1936, Goldenwest serves more than 97,000 members, holds $1 billion in assets, and operates 26 branches throughout Utah with offices in Weber, Morgan, Davis, Salt Lake, Utah, Box Elder, Cache and Washington Counties.