Goldenwest is seeing an increase in requests for small business loans. This is great news because small business loans can have a far-reaching impact in our communities.

Consider what happened when Goldenwest provided a member with a SBA loan so they could purchase a local tire and auto service shop. The funds were used not only to purchase the business, but also provided needed cash flow to hire mechanics and technicians…creating more local jobs. Furthermore, the funds were used to buy equipment, tools and parts from local suppliers.

But it doesn’t stop there. The business owner hired local vendors for insurance, advertising, building maintenance, accounting services, computer equipment and more.

In reality, a small business loan can have a financial impact on hundreds of people. It’s the money multiplier effect in action.

Helping small businesses as a preferred SBA lender is just one of the many ways Goldenwest is playing an active role in the local economic recovery. As a fiscally safe and sound financial institution, we can provide a substantial amount of loans to individuals and families in the communities we serve.

Last month our mortgage department closed more than $35 million in home loans…our highest month ever! Even better, a large majority of those loans were existing mortgages refinanced to lower interest rates. As a result, our members are saving hundreds of thousands of dollars in interest payments.

Maintaining our financial strength continues to be a top priority. As such, we have the resources members need to achieve their goals and dreams. I’m pleased to report Goldenwest remains a 5-Star rated credit union by BauerFinancial. At the end August, we posted our return on assets at 1.57%. Our delinquency ratio has dipped to .17%.

Thanks for your support…our members and employees make a great team. As always, I invite you to follow me on Twitter @GoldenwestCUCEO for the latest news about our credit union.

Kerry H. Wahlen
President/CEO