August 26, 2013

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Article

Merger Approved for Goldenwest and USU Charter Credit Union

Press Release

August 26, 2013

Ogden and Logan — Goldenwest Credit Union and USU Charter Credit Union announced today the merger of  the two Utah-based credit unions has been officially approved. The partnership will have a combined 26 branches and close to $1 billion in assets.

“We congratulate everyone involved at both Goldenwest and USU Credit Unions for their diligence and hard work during the merger approval process,” said Kerry H. Wahlen, Goldenwest president and CEO. “We extend a warm welcome to all USU Credit Union members and employees who are now part of the Goldenwest family.”

In July, Goldenwest and USU Credit Unions announced their intent to merge and began the process to receive regulatory approval by the National Credit Union Association (http://www.ncua.gov/">NCUA). The credit unions were granted the green light by the NCUA earlier this month. The final step in receiving approval for the merger came during a special meeting for USU Credit Union members held Thursday in Logan. At the meeting, USU Credit Union members expressed their approval by voting in favor of the merger.

The credit unions will combine financial data on Oct.1 but will maintain two separate computer systems for a few months as they prepare for the eventual integration of systems. Full integration of accounts, products and services is expected to take place during the first quarter of 2014.

USU Credit Union branches will maintain their brand in Cache Valley and operate as a division of Goldenwest Credit Union.

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