I’m excited to share the news that Goldenwest will give back $1.2 million to members with a bonus dividend on December 31st! This is the largest bonus dividend paid in Goldenwest history, and the 12th consecutive year we have paid a bonus dividend to members.

As a not-for-profit financial cooperative, we return earnings to members in the form of free services, higher dividends and lower loan rates. Over the past 12 years, members and volunteers have demonstrated remarkable support allowing us to pay $7,975,000 to member-owners through the bonus dividend program.

Each year, the Board of Directors and Executive Management Team work closely together to determine the bonus dividend yield based on credit union performance and overall market conditions. We carefully consider factors such as net capital position, asset quality and operating expenses.

For 2015, members will earn a total 4.20% Annual Percentage Yield (APY) with the bonus dividend. The dividend is paid on primary shares, secondary shares, IRA shares and Christmas Club shares for the month of December only.

The Operations Center is in the final weeks of construction. It is located on Adams Avenue in Washington Terrace, directly south of the Corporate Center in South Ogden. This new facility will house about 90 employees in various back-office departments, including: Operations; Information Technology; Payment Services; Accounting; Loan Processing; Underwriting; Facilities Management; and, the Call Center. The Operations Center is designed to better accommodate our existing needs as well as anticipated growth in the years ahead.

Members should continue to visit the Corporate Center at 5025 South Adams Avenue in South Ogden, or any of our 27 offices located from Logan to St George, for retail services such new accounts, consumer loans, mortgages, insurance, commercial loans and all other branch services. Many Goldenwest services are also available through our online and mobile channels

It’s wonderful to have multiple opportunities to give and help others during the holiday season. This December marks the 17th year we have adopted 25 local families with our Golden Tree holiday giving campaign. Together with our members, we provide winter clothing, shoes, toys and other items to brighten the lives of children. In addition, we are reaching out to 14 different Utah-based charitable organizations with donations made through our Santa Sale campaign. Thanks to our generous members and employees, we are making a difference in the lives of local children and their families.

Congratulations to our employee of the month, Teresa Webb, who serves as our Indirect Lending Manager. Teresa’s unending energy and determination has propelled our dealership member-lending program to unprecedented levels this year. Thanks for your hard work and enthusiasm!

I’m incredibly grateful for an amazing year at Goldenwest Credit Union. Best wishes to all of our members for joyous Christmas and fulfilling New Year!