President's Blog

by Kerry Wahlen, President/CEO

$2.2 Million Bonus Dividend

December 24, 2020

I am incredibly grateful to share the news that for the 17th consecutive year, the Goldenwest Board of Directors has declared a year-end bonus dividend. With an additional 4.25% APY paid for the month of December, our members will collectively earn $2.2 million.

Through the extraordinary combined efforts of our management team, staff, and Board of Directors, we have continued to focus on providing our members with the financial products and services they need to succeed in our much-changed world. I will be forever thankful for the manner in which our team pulled together in 2020.

To have the opportunity to pay a significant bonus dividend in a year with considerable obstacles is a testament to the safety and soundness of this Credit Union. The member-elected volunteer Board of Directors is to be commended for their resolve in adhering to our mission as a not-for-profit financial cooperative. And I could not be prouder of how our leadership team has continued to move forward despite the significant challenges arising from the pandemic.

Paying a bonus dividend is one of the many ways we demonstrate our appreciation to you, our members. The one-time dividend of 4.25% APY will be paid in addition to the stated monthly dividend of 0.05% APY. Members will earn 4.30% APY for the month of December on primary shares, secondary shares, Christmas Club shares, and IRA shares.

We are advancing our goals as a Credit Union to grow in a responsible manner that will allow us to better meet your needs. At the beginning of 2020, we opened a Goldenwest branch in Ogden Valley, and in April we relocated the Orem branch to 1020 East 800 North. In November we relocated the USU Credit Union office inside Lee’s Marketplace to a beautiful new branch at 220 East 1400 North in Logan. In Salt Lake County, at the end of January 2021 we will begin serving members at a new Goldenwest branch in Bluffdale located at 13900 South Redwood Road. And within the last few weeks, we broke ground for the fourth Goldenwest office in the St George area which will be located in Riverside.

As 2020 draws to a close, most of us agree that it has been a unique and trying year. We appreciate your patience as the Credit Union has worked through temporary branch closures and adhering to safety measures in our public spaces. Behind the scenes, we have transitioned 300 of our employees to working from home.

Thanks for your continued support, and giving us the opportunity to serve you. We extend our best wishes to everyone during the holiday season and in the coming year!

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