Credit unions in Ogden, Logan to merge but retain identities

Lenders • USU Charter to become division of Goldenwest.
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Two Utah credit unions — one big and one small — have agreed to merge, but each will keep its respective name.

The merger is expected to be completed by the end of 2013, Goldenwest Credit Union and USU Charter Credit Union said in a joint statement Tuesday.

After the merger, USU Credit Union will become a division of Goldenwest.

"Goldenwest is the ideal strategic partner for us," said David Butterfield, CEO of USU Credit Union. "Both credit unions are financially sound [and] our fields of membership are complementary to one another."

Based in Ogden, Goldenwest has more than 89,000 members and holds close to $845 million in assets. The credit union founded in 1936 has 21 branches in Weber, Morgan, Davis, Salt Lake, Utah and Washington counties.

USU Credit Union was established in 1957 on the campus of Utah State University in Logan. It has 17,000 members and holds $139 million in assets. The credit union has five branches — two in Logan and one each in Smithfield, Providence and Brigham City.

"Goldenwest has about 2,000 members who live in Cache and Box Elder counties. We are excited to bring these members added convenience by serving them in the five USU Credit Union branches," Goldenwest CEO Kerry Wahlen said.

Once the merger is complete, Goldenwest will have 26 branches, $985 million in assets and more than 106,000 members.