Goldenwest Remains Strong; Breaks Ground For New Office In Kaysville

Goldenwest Credit Union held a groundbreaking ceremony last week for its branch in Kaysville. Scheduled to open in June 2010, the full-service office will be located on 200 North Street two blocks west of Main Street.

On Tuesday, January 19th the credit union opened a temporary location at 66 South Main in Kaysville to serve members while the new facility is under construction. The temporary site is directly west of the Barnes Bank headquarters. Many former Barnes Bank customers are visiting the Goldenwest branch to open new deposit accounts and refinance loans.

“Two years ago Goldenwest purchased land in Kaysville with plans to open a branch in Summer 2010,” said Shelley B. Clarke, Goldenwest President/CEO. “We are thrilled to be in Kaysville six months ahead of schedule.”

Clarke says that the temporary branch opening has exceeded their expectations.

“The response from Kaysville City officials and citizens has been incredible,” continued Clarke. “We look forward to building new member contacts and fortifying relationships with our 4,000+ existing members who live in the Kaysville area.”

Many Davis County residents and businesses are looking to Goldenwest for financial security. Goldenwest continues to be among the top 10% strongest credit unions in the nation with earning the 5-star superior rating for safety and soundness since 1992. Financial institutions are rated quarterly based on capital adequacy, asset quality and stability.

In addition, Goldenwest has declared a year-end bonus dividend for six consecutive years. In December 2009, the credit union paid a 7.00% Annual Percentage Yield on primary and secondary shares. During the last six years, Goldenwest has returned more than $3 million to members through the bonus dividend program.

Goldenwest deposits are federally insured through the National Credit Union Administration (NCUA). Similar to FDIC insurance held by banks, NCUA insurance provides coverage up to $250,000 per account. Depending on how the account is structured, members can insure deposited funds to several hundred thousand dollars at Goldenwest.

The Kaysville temporary branch location on Main Street is offering all types of deposit and loan services, including free checking, savings products, auto loans, mortgages, home equity loans, and much more. Goldenwest has special incentives for former Barnes Bank customers who open new accounts or refinance loans before February 12, 2010.

Construction for the new 4300 square foot office on 200 North will begin as soon as the final permits are approved from Kaysville City. The full-service branch will include mortgage and loan offices, new accounts desks, safe deposit boxes, five teller stations, four convenient drive-thru lanes and a 24-hour drive-up ATM. Wadman Corporation has selected as the builder for the project.

Phill Wright has been named business development manager for the Kaysville office. Wright has been with Goldenwest for more than five years and has originated mortgages for more than 25 years.