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Goldenwest announces 4.65% APY bonus dividend, distributing $3.3 million to members in December

SOUTH OGDEN, UT (December 12, 2023) — Goldenwest Credit Union has announced its 20^th annual Bonus Dividend with a remarkable year-end bonus dividend of 4.65% Annual Percentage Yield (APY) for the month of December. Approved by the Goldenwest Board of Directors, this generous dividend will be distributed across primary shares, secondary shares, Christmas Club shares, and IRA shares, collectively amounting to $3.3 million for its members.

Since 2004, the Bonus Dividend program has become a signature benefit of Goldenwest membership, delivering over $27 million in earnings to members over the past two decades. This year’s dividend, in addition to the standard monthly dividend of 0.05% APY, underscores the Credit Union’s commitment to providing meaningful value to its members.

Dan Musgrave, Chairman of the Board, expressed his approval and appreciation, stating, “The Bonus Dividend program continues to be a distinctive benefit of Goldenwest membership. We extend our gratitude to our loyal members for their ongoing support, enabling us to uphold this tradition for two decades.”

Members can anticipate earning dividend dollar amounts based on the average daily balance in their individual accounts throughout the 2023 calendar year. These dividends will be deposited into savings accounts on January 1, 2024.

Kerry Wahlen, President/CEO, emphasized the program’s significance in promoting engagement in the Credit Union as well as financial wellness among members.

“The year-end Bonus Dividend is a yearly testament to the benefits of members supporting our Credit Union family. With the full backing of our dedicated volunteer Board, we are delighted to contribute positively to the financial wellbeing of our members through the Bonus Dividend program.”

Looking ahead to the upcoming year, Wahlen announced that the Bonus Dividend paid at the end of 2024 will be deposited into each member’s high-yield Gold Account, a complimentary addition as part of the Golden Rewards member loyalty program launching in January 2024.

“The Bonus Dividend and the new Golden Rewards member loyalty program demonstrate our commitment to ensuring that all member-owners share in the success and growth of the Credit Union,” added Wahlen.

About Goldenwest Credit Union

Founded in 1936, Ogden-based Goldenwest Credit Union holds $3 billion in assets, serves 183,000 members and operates 50 branches across Utah and Idaho.