Usu charter

Goldenwest and USU Credit Unions,” stated Bill Hart, Chairman of Goldenwest. “We welcome USU members to our credit union family, and invite Goldenwest members to enjoy the added convenience of the five full-service USU branches in northern Utah.”The merger is subject to regulatory approval by the NCUA. The intended merger is expected to be completed in the fourth quarter of 2013.About Goldenwest Federal Credit Union Founded in 1936, the Ogden-based credit union currently holds $845 million in assets, has more than 89,000 members and operates 21 branches with offices in Weber, Morgan, Davis, Salt Lake, Utah and Washington Counties. Goldenwest is a leading provider of consumer loans, mortgages, free checking services and deposit products throughout Utah. About USU Charter Credit Union USU Charter Federal Credit Union is a member-owned, not-for-profit financial institution with headquarters in Logan, Utah. Established in 1957 on the Utah State University campus, USU Credit Union now holds $139 million in assets, serves more than 17,000 members and operates five branches.

LOGAN, UT (July 2, 2013) The Board of Directors at Goldenwest Credit Union and USU Charter Credit Union announced today their intent to merge the two Utah-based credit unions. The partnership will bring about one of the strongest financial institutions in northern Utah with a combined 26 branches, $985 million in assets, and more than 106,000 members.“Goldenwest is the ideal strategic partner for us,” stated David Butterfield, President/CEO of USU Credit Union. “Both credit unions are financially sound, our fields of membership are complementary to one another, and we share similar values for members, employees and the community.”USU Credit Union will maintain their familiar brand in Cache Valley, staying true to their roots as an affiliate of Utah State University. The 56-year old credit union will operate as a division of Goldenwest Credit Union.“It is important we retain our identity as a credit union that serves the students, faculty, staff and alumni of Utah State University,” said Steve Carroll, Chairman of USU Credit Union. “Our members have tremendous loyalty to the Utah State brand.”The merger will provide greater convenience and value to both Goldenwest and USU Credit Union members.“Goldenwest has about 2,000 members who currently live in Cache and Box Elder Counties,” commented Kerry H. Wahlen, President/CEO of Goldenwest Credit Union. “We are excited to bring these members added convenience by serving them in the five USU Credit Union branches.”USU Credit Union members will enjoy all membership privileges at Goldenwest’s 21 existing offices. Furthermore, they can access their accounts at thousands of additional branches across the country through the shared branch network. USU Credit Union members will have full access to Goldenwest’s portfolio of products and services, including residential mortgages and commercial loans.“This merger will provide tremendous value for our members, and in particular, USU students and alumni,” added Butterfield. “With the expanded branch network throughout Utah and across the country, USU alumni can easily continue their relationship with our credit union should they leave Cache Valley after graduation.”As both credit unions are deemed financially secure, the merger is considered strategic in nature.“We feel this partnership is win-win for both

On January 23, 2008 at 12:00 am Amy MattsonOne of Logan’s long-standing businesses recently celebrated its 50th anniversary. Operating since Dec. 27, 1957, the Utah State University Charter Credit Union was organized by two previous Utah State professors, Vernon Israelsen and Evan Murray. “(Israelsen) was an economist and a member of the faculty in the economics department,” said his son, Boyd Israelsen. “His passion was to see economics make a difference in the lives of people, particularly people who were disadvantaged and … in the lower rungs of society. He wanted to be able to provide services for people that might not otherwise be available. This included providing for faculty and staff.” When the credit union first opened, it was available only to USU employees, their families and alumni. The business was managed from the offices of several professors who, in addition to their teaching assignments, became accountants and loan officers as well. To meet the needs of the growing business, the credit union hired its first full-time employee, Doris Thorpe, in 1962 and moved from the professors’ offices to the annex building across from the stadium. “I was treasurer/manager – that’s the same as a CEO today,” Thorpe said. She performed the duties of loan officer, banker, manager and all other necessary tasks, she said. “We were a very small credit union at the time,” she said. “There was only myself and one other gal that worked there.” The business did not stay small for long though. Within a span of 10 years, USU employee membership jumped from 40 percent to more than 83 percent. In order to accommodate for the growth of credit union membership, it was decided a new off-campus office would be built, Thorpe said. Ground broke in 1975. After three years, $475,000, and a lot of hard work, the building was finished, she said. On April 20, 1978, the president of USU, Glen L. Taggart, dedicated the USU Charter Credit Union. The credit union campus branch still stands in the same location today at 675 E. 1000 North. Along with the new building came the need for more employees, Thorpe said. Four people who helped build the credit union from its infancy continue to contribute to its growth today. Dennis Childs, who started working at USUCCU in 1979, is now president and CEO. Jim Jackson, hired in 1980, now works as vice president and compliance