President's Blog
by Kerry Wahlen, President/CEO
Celebrating 2024 with Historic Bonus
As we near the end of an incredible year, I am thrilled to share that we are preparing to pay the largest year-end bonus to our members in Goldenwest’s history. At the conclusion of 2024, we are distributing a year-end bonus of $3.5 million!
This remarkable achievement is a continuation of a 21-year tradition at Goldenwest, during which we have returned over $30 million to our members. The year-end bonus not only highlights the strength of the Credit Union but also recognizes the commitment of our members to Goldenwest.
In addition to the size of the 2024 bonus, we are excited to announce a couple of new enhancements that allow more of our members to receive a greater benefit from the year-end bonus program.
First, the Golden Rewards Loyalty Bonus is now part of the Golden Rewards Loyalty Program, which we launched at the beginning of 2024. Your Loyalty Bonus will be deposited directly into your free Gold Account on January 1, 2025, where it will start earning a 6.00% Annual Percentage Yield right away—essentially allowing you to earn a bonus on top of your bonus!
Second, the new Golden Rewards Loyalty Bonus, previously known as the Bonus Dividend, is designed to reward members who use a variety of Credit Union products and services beyond the share savings accounts. The more you utilize Goldenwest’s deposit accounts, loans, Visa cards, and insurance products, the larger your loyalty bonus will be. This change enables us to reward members for the many ways you engage with the Credit Union.
The Gold Account is more than just a place to deposit your Loyalty Bonus. It is a free, high-yield savings account that provides you with unique opportunities to grow your savings for emergencies and unplanned expenses. Beyond the Loyalty Bonus, you can continue to build-up your Gold Account with our Debit Card Round-Up Rewards, Visa Credit Card cash back options, and other exclusive promotions throughout the year.
I want to express my deepest appreciation to each of you for choosing Goldenwest. Your confidence and trust have allowed us to maintain the year-end bonus tradition for more than two decades and have enabled us to launch the innovative Golden Rewards Loyalty Program.
As we look forward to the new year, my warmest wishes go out to you and your family for a joyful holiday season and a prosperous 2025. Thank you for being a part of our Goldenwest family!
Best Regards,
Kerry Wahlen
Last year when GWCU created the NEW GOLD account why didn't you immediately place the BONUS dividend you paid out to Primary Savings Account holders directly into the NEW Gold account so its members could benefit immediately and start receiving the 6% rate going forward throughout the 2024 year but instead you chose to make them wait a full year under the new plan to receive any dividends from deposits going forward until Jan 1 of 2025, simply put IMO you made the wrong decision... Going forward into 2025 I am very disappointed in the CEO and BOD's decision to drop the old year end BONUS dividend on existing Primary Savings Account to its members, the features of the NEW GOLD Account bonus program should have been additions to the rewards previously paid out to members in their primary savings account, 2023 YE showed $45M NET earnings so why not give a little more than 3.5M back to its members... after all its their money! In the end GWCU will grow even stronger and more prosperous in the coming years.
Mr B
January 6, 2025
I strongly encourage Goldenwest Credit Union to allow their customers to put other funds into the Gold Account. This will allow us to have more ROI on our money, and would definitely make me a lifelong customer of Goldenwest. I'm considering other banks with a better HYSA because we're not allowed to put other funds into the account.
Tyler Deeble
January 10, 2025
I was surprised that our cds did not get a bonus. rewarding the regular accounts but not the cds where we are all striving to save more which leaves more money in the institution throughout.
Corbet Peebles
January 31, 2025