Utah Merger of USU Charter and Goldenwest Wins Final Approvals
Members of the $139 million USU Charter Federal Credit Union in Logan, Utah have approved merging with the $849 million Goldenwest Federal Credit Union in Ogden, Utah.
Their boards approved the merger earlier this summer. Consolidation means Goldenwest FCU will manage $987 million in assets, serve more than 106,000 members and operate 26 branches across northern Utah.
“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/CEO. “We extend a warm welcome to all USU Credit Union members and employees who are now part of the Goldenwest family.”
The credit union received merger approval from the NCUA earlier this month. USU Charter FCU members voted to approve the merger on Aug. 22.
USU FCU branches will maintain their familiar brand in Cache Valley, staying true to their roots as an affiliate of Utah State University, the credit unions said. The 56-year-old credit union will operate as a division of Goldenwest Credit Union.
The credit unions will officially merge by combining financial data on Oct. 1. However, they 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, the credit unions said.