OGDEN, Utah – Goldenwest FCU reported a record year in 2012 for net income, loans and membership.

The credit union reported its assets grew to $814 million, while net income almost doubled to $12 million, from $6.2 million in 2011, with return-on-assets surging to 1.51%, from 0.81%.

“In 2012, Goldenwest had its strongest year for growth since 2009,” said Kerry Wahlen, president.

Other highlights included:

• Capital ratio increased from 11.31% to 12.3% of assets in reserve.
• Consumer loans grew by $20.7 million, resulting in an overall 4.68% annual increase.
• Assets increased $35.1 million, capping the year with $813,788,539 in total assets.
• Delinquency declined from 0.68% to 0.30% during a 12-month period.
• Real estate owned decreased 28% in the last year to $1.8 million.
• Net charge-offs decreased from 1.77% to 0.43%.
• Membership grew by 4.03% to 87,126.
• Branch locations grew from 18 to 20, with new offices in Lehi and Centerville.


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