As we look back on the past year, I am proud to share the remarkable accomplishments, important milestones, and positive impacts Goldenwest Credit Union achieved in 2023.

Here are some key highlights from 2023:

• We distributed a $3.3 million Bonus Dividend to members in December, reaffirming our dedication to sharing our success with those who matter most.

• For the first time, total assets hit $3 billion and at year-end the Credit Union recorded $3,059,838,009 in assets, marking a 10.3% annual increase.

• Certificates and Insured Money Market accounts saw significantly higher yields, providing members with attractive returns on their deposits.

• We achieved $248 million net growth in loans, resulting in a year-end portfolio of $2,484,389,422. In addition, we successfully originated $159 million in secondary-market mortgages.

• Our strong financial performance was substantiated in a 1.53% return on assets and a net capital ratio of 13.5%.

• Delinquency rates remained low at 0.28%, with net charge-offs at 0.20%, showcasing our responsible lending practices.

• We welcomed a 6.57% increase in net membership, with 185,273 total credit union members now benefiting from our services.

• Goldenwest Insurance Services provided members with significant savings, writing more than $5.75 million in premium for new home, auto, and commercial insurance policies. Weber State University alumni were added as a new affinity group, entitling them to substantial discounts on both auto and homeowners’ insurance.

• We expanded our branch network with new offices in Boise and Post Falls, Idaho, as well as the introduction of new Utah-based branches in Springville, West Jordan, and Spanish Fork.

• Our new Corporate Center in Washington Terrace opened in November, representing our commitment to future growth and innovation for generations to come.

• Through our community outreach efforts, we supported organizations such as the Cystic Fibrosis Foundation, Catholic Community Services, USU Alumni Association, Utah PTA, Idaho PTA, and various school foundations, embodying our commitment to the credit union philosophy of “People Helping People.”

I attribute our success in 2023 to the talent and commitment of our exceptional employees, and the loyal members who are the foundation of our credit union. Additionally, I extend my gratitude to our Board of Directors and volunteers for their guidance and leadership throughout the year. Together, we are laying the foundation for a credit union that will endure the test of time.

With a solid start to 2024, I am optimistic about the opportunities that lie ahead. The new Golden Rewards member loyalty program featuring the Gold Account with 6.00% Annual Percentage Yield has brought renewed interest in the benefits of Goldenwest membership by both existing and prospective members. The Goldenwest expansion into Idaho has been met with enthusiasm, and we are excited to continue growing in the Gem State.

I want to express my heartfelt gratitude to our members for their continued loyalty and trust. Goldenwest remains committed to upholding the values of hard work, thrift, and cooperation that have defined us for 88 years. Should you need any assistance or support in the coming year, please do not hesitate to reach out to me or any member of our leadership team. Together, let us make 2024 a year of prosperity and success for us all.