Members Earn $2.2 Million with Bonus Dividend
OGDEN, UT: November 20, 2020 – Goldenwest Credit Union is announcing their members will collectively earn $2.2 million on December 31st with the year-end Bonus Dividend. The Credit Union’s Board of Directors approved the dividend at their recent November Board Meeting. For the past 17 years, the Bonus Dividend program has returned $17.4 million in earnings to Goldenwest members.
“We are grateful to experience another successful year, giving us the opportunity to reward our members with a 4.25% bonus dividend,” said Bill Hart, Chairman of the Board. “The Credit Union continues to thrive even with all of the unique challenges we have faced across the nation during the pandemic.”
The one-time dividend of 4.25% Annual Percentage Yield (APY) that will be paid on top of 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. Dividend earning amounts will vary by member based on the average daily balance in their individual accounts over the 2020 calendar year.
“Paying a bonus dividend is one of many ways we demonstrate our appreciation to the members of the Credit Union,” said Kerry Wahlen, President/CEO. “We are proud to give back $2.2 million to our members this year.”
Wahlen noted that 2020 has been unlike any other year during his four decades working in the financial services industry. Although the year was beset with unusual circumstances, the Credit Union remains in a strong financial position.
“As we continue to navigate through the challenges brought about by the pandemic, we are focused on providing members with the support they desire while maintaining a healthy and safe work environment for our employees,” remarked Wahlen. “Goldenwest is fully functional from a business standpoint, and we will continue to provide the products and services our member need for their financial stability and success.”
Goldenwest and USU Credit Union branch lobbies and drive-up windows remain open to serve members under the safety protocols recommended by local health officials and civic leaders. When possible, members are encouraged to conduct transactions, open accounts, and apply for loans from the comfort and safety of their homes with the online branch, mobile banking app, and by calling the Member Contact Center.