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Goldenwest Announces $1.975 Million Bonus Dividend

Odgen― Goldenwest Credit Union released information about their 2018 Bonus Dividend, stating they anticipate their members will collectively earn $1,975,000 on December 31st with the year-end bonus. The Credit Union’s Board of Directors approved the dividend at their recent November Board Meeting. Since 2004, $13 million has been returned to members through the Bonus Dividend program.

“The year-end Bonus Dividend is paid as a result of our excellent financial growth and performance during the past 12 months,” said Bill Hart, Chairman of the Board. “The Board of Directors wishes to thank Goldenwest members for their continued support, and recognize their loyalty through this special dividend.”

“Goldenwest is a member-owned financial institution that was built for and by our members,” stated Kerry Wahlen, President/CEO. “Our 15-year tradition of paying Bonus Dividends demonstrates our commitment to the not-for-profit cooperative spirit of credit unions.”

In December, members will earn a 4.30% Annual Percentage Yield (APY) on primary shares, secondary shares, Christmas Club shares, and IRA shares. The one-time dividend is paid in addition to the 0.10% APY monthly dividend. The total dividend paid for the month of December will be 4.40% APY, or an equivalent rate of 0.46% calculated on the average daily balance for the year.

Mr. Wahlen noted that the Bonus Dividend isn’t the only savings yield that has increased in the past year.

“The long drought of low deposit rates is ending,” continued Mr. Wahlen. “In 2018, Goldenwest members earned higher dividends with increased rates on Certificates and Insured Money Market accounts.”

Founded in 1936, Ogden-based Goldenwest Credit Union holds $1.5 billion in assets, serves 136,000 members and operates 40 branches with offices in Cache, Box Elder, Weber, Morgan, Davis, Salt Lake, Utah, and Washington Counties. Goldenwest Credit Union owns and operates multiple financial services providers in Utah, including: USU Credit Union, a division of Goldenwest; Healthcare Credit Union, a Goldenwest Company; and, Goldenwest Insurance Services.

 

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