OGDEN, Utah Goldenwest CU said this morning it has agreed to combine with Logan-based USU Charter CU to create a credit union with almost $1 billion in assets serving 105,000 members.
USU Charter, chartered in 1957 to serve employees of Utah State University, has $140 million in assets and will maintain its familiar brand in Cache Valley by operating as a division of Goldenwest.
“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 CU. “Our members have tremendous loyalty to the Utah State brand.”
“Goldenwest is the ideal strategic partner for us,” said David Butterfield, president of USU CU. “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.”
“Goldenwest has about 2,000 members who currently live in Cache and Box Elder Counties,” said Kerry Wahlen, president of Goldenwest. “We are excited to bring these members added convenience by serving them in the five USU Credit Union branches.”
Goldenwest was chartered in 1936 and has $845 million in assets and serves 89,000 members at 21 branches in Weber, Morgan, Davis, Salt Lake, Utah and Washington counties.
The merger is subject to approval by NCUA and is expected to be completed in the fourth quarter.
