Dec, 31, 2023 — GOLDENWEST FEDERAL CREDIT UNION is a federal credit union headquartered in WASHINGTON TERRACE, UT with 53 branch locations and about $3.06 billion in total assets. Opened 88 years ago in 1936, GOLDENWEST FEDERAL CREDIT UNION has about 185,273 members and employs 739 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GOLDENWEST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5151 S 400 E WASHINGTON TERRACE, UT 84405 |
| Phone: | (801) 337-8300 |
| Fax: | |
| Website: | https://www.gwcu.org |
| Branches: | 53 branch locations |
| Members: | 185,273 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24693 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,060,923,432 |
| CEO/Manager: | Kerry H Wahlen |
| Chairperson: | Dan T Musgrave |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 144,737,797 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 3,630,362 |
| Real Estate Loans | 1,405,273,992 |
| Unsecured Loans | 95,422,782 |
| Other Loans | 983,882,992 |
| TOTAL LOANS | 2,484,841,263 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -28,686,000 |
| Land And Building | 91,255,060 |
| Other Fixed Assets | 40,611,726 |
| NCUSIF Deposit | 23,046,486 |
| All Other Assets | 633,581 |
| TOTAL ASSETS | 3,060,923,432 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 500,000 |
| Notes & Interest Payable | 7,500,000 |
| Accounts Payable & Other Liabilities | 45,264,876 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 440,580,390 |
| Regular shares | 686,115,660 |
| All Other Shares & Deposits | 1,470,452,051 |
| TOTAL SHARES & DEPOSITS | 2,597,148,101 |
| TOTAL LIABILITIES | 2,650,412,977 |
| Regular Reserve | 0 |
| Other Reserves | 394,501,182 |
| Undivided Earnings | 16,009,273 |
| TOTAL EQUITY | 410,510,455 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,060,923,432 |
| INCOME & EXPENSE | |
| Loan Income | 136,227,863 |
| Investment Income | 11,597,137 |
| Other Income | 18,039,007 |
| Total Employee Compensation & Benefits | 51,137,716 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 38,229,972 |
| Non-operating Income & (Expense) | 233,739 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,256,517 |
| Cost of Funds | 51,178,794 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 45,069,781 |
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