The $1 billion Goldenwest Federal Credit Union in Ogden, Utah, said it willreturn $760,000 in bonus dividends to members at the end ofDecember.

Goldenwest's board of directors declared a dividend of 4.35%annual percentage yield on shares for the month of December 2013.The dividend is significantly higher than the 0.10% APY paid inrecent months, the credit union said.

The $760,000 payout marks the 10th consecutive year theGoldenwest board has declared a year-end bonus dividend. Since2003, Goldenwest has returned $5,875,000 to members with bonusdividends, the Utah credit union said.

“Goldenwest is truly unique in Utah with our bonus dividendprogram,” said Bill Hart, Goldenwest board chair. “It's a pleasureto be part of a strong institution with a long history of providinggenerous returns to members.”

The 4.35% APY dividend is paid on primary shares, secondaryshares, Christmas Club shares, and IRA shares.

Goldenwest said it recently reached a historic milestone withassets exceeding $1 billion for the first time.

“It's been a banner year for Goldenwest Credit Union,” saidKerry Wahlen, Goldenwest president/CEO. “In addition to our mergerwith USU Credit Union, we are projecting year-end loan growth at 7%and return on assets is estimated to post at 1.50%.”

Wahlen noted that Goldenwest's financial strength has fueled thecredit union's expansion efforts in 2013.

“With our new Goldenwest Bountiful office and five USU CreditUnion offices, we have grown to 26 branch locations from Logan toSt. George,” Wahlen said. “Furthermore, we successfully implementeda new online banking system and launched mobile deposit.”

Founded in 1936, Goldenwest serves more than 97,000 members andoperates 26 branches throughout Utah with offices in Weber, Morgan,Davis, Salt Lake, Utah, Box Elder, Cache and Washingtoncounties.