We have experienced a remarkable year in terms of learning to serve our members in unique and innovative ways. In spite of the uncertainty brought about by the pandemic, Goldenwest finished 2020 strong with record accomplishments in several of our key metrics. Highlights for the year include:

• $2.2 million dividend paid to members in December.
• $444 million growth in total assets to $2,184,619,620 for a 25.66% annual increase.
• $927.7 million in secondary-market mortgage origination, an all-time high for Goldenwest.
• $207 million in consumer loans, for a 15.41% annual increase.
• More than 1,000 SBA Paycheck Protection Program (PPP) loans for close to $100 million as part of the CARES Act.
• Return on assets reached 1.56%.
• Net capital ratio posted at a strong 12.8%.
• Delinquency remained steady at 0.20% and net charge-offs decreased to 0.20%.
• Net membership grew by almost 4% to 149,379 total credit union members.
• Goldenwest Insurance Services wrote more than $2.8 million in new home and auto insurance, and an additional $1.5 million in commercial insurance.
• New branch opening in Eden, and branch relocations in Orem and North Logan.
• Rebranding two Healthcare Credit Union branches to Goldenwest Credit Union in Salt Lake City and Murray.
• Introduction of Business Reward Yourself Checking.
• Online and mobile account opening system launched.
• Upgrade to online loan application system.
• Initiation of Visa “tap-to-pay” contactless cards.
• Visa purchase card program introduced.
• Addition of estate planning services (wills and trusts).
• Online Medicare Seminars for our seniors across the state, including in-branch Medicare plan enrollment services.
• Multiple awards and recognitions, including “Best of State” in the Credit Union category, “Fast 50” by Utah Business magazine, and an A+ health rating by DepositAccounts.com.

2021 Outlook
I am excited about the new and meaningful ways we will improve our member service and communication channels this year.

In January 2021 we opened the Bluffdale branch at Bangerter Highway and Redwood Road, increasing the number of full-service branches in Salt Lake County to seven. New branches in the SunRiver Development of St George and in Rexburg, Idaho are scheduled to open later this year.

Goldenwest is converting to a single, unified platform for online and mobile banking services that will be consistent across all electronic devices. We are excited that the new, modern features will be more efficient, convenient, and secure for our members. We are committed to a high level of preparation for this launch to ensure a smooth transition for our members, so look for more information coming soon.

We are continuing to develop remote yet personable communication by expanding our digital member service channels to include online video chat as well as improving our text (SMS) chat abilities with our live, locally-based member service representatives.

I could not be more proud of our team for their perseverance. None of us have ever experienced a year like 2020, and each employee has risen to meet the challenges placed before us. I believe the adversity of the past year has made us stronger as a credit union family, and we will carry that resilience into 2021.

Thanks for your continued loyalty and support – we are grateful for the opportunity to take care of you!