Welcome to GoWest Digital Media Center, a one-stop resource for journalists, bloggers, communicators, and marketers. Whether the stories you tell are for trade outlets or for consumer-facing media, we are here to help.
About GoWest
Association
GoWest Credit Union Association is the trade association representing more than 300 not-for-profit, cooperative credit unions in Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming and their 16.5 million total consumer members. We help our member credit unions with compliance, professional development, and advocacy for laws and regulations that remove barriers so they can better serve their members.
Foundation
Powered by a network of credit unions, GoWest Credit Union Foundation is uniquely positioned to harness and deliver resources that strengthen the financial lives of people and communities throughout the region. This is accomplished through asset building, economic empowerment, and cooperative development. The GoWest Foundation is a 501 (c) (3) organization.
Solutions
Serving as a collaborative hub, GoWest Solutions harnesses the power of cooperative intelligence to connect GoWest member credit unions with leading business partners in the industry. These world-class partners provide innovative solutions designed to help credit unions save money, stay up to date with emerging trends, deliver cutting-edge technology, and ultimately, better serve their diverse memberships.
The CU Difference
Credit unions help consumers achieve their financial dreams. They provide every possible financial service, including savings accounts, loans for cars, homes, and businesses, credit cards, financial counseling, and more.
What is a Credit Union?
A credit union is a cooperative financial institution owned and controlled by those who deposit their money in the credit union. These people are members, similar to customers, and they have something in common. They may work together, attend the same church, or live in a particular area. As credit unions are not-for-profit, they exist to help their members achieve their financial goals.
How are credit unions different from banks?
That’s easy. Credit unions put people before profits. While banks are owned by stockholders and must deliver profits to them, credit unions are not-for-profit cooperatives, essentially owned by the members using their services. Instead of returning profits to Wall Street, credit unions reinvest in their members, offering them smart, economical products and services, and to top all that off, a voice in how the credit union is operated! Credit union boards are comprised of their members.
The American Credit Union Movement took flight during the Great Depression when people in need could not access the for-profit financial services system. Founding members pooled their own money to make affordable loans possible for people who needed help. Credit unions remain as true to those roots as ever.
Not-for-profit
Credit unions are not-for-profit financial cooperatives existing to serve members, not to make a profit. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.
Your money is always safe in a credit union.
Deposits in most federally insured credit unions are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF). Funded by credit unions and administered by the GoWest Credit Union Association, the NCUSIF is backed by the full faith and credit of the U.S. government. A few regional credit unions that are not part of the NCUSIF program carry private insurance to protect their members’ financial assets.
Taxation
Credit unions do pay taxes – payroll taxes, sales taxes, and property taxes. Credit unions are exempt from corporate and income taxes because of their not-for-profit structure.
Ownership
Credit unions are an economic democracy. Each credit union member has equal ownership and one vote – regardless of how much money a member has on deposit. At a credit union, every customer is both a member and an owner who gets to vote on how the credit union will be run through board elections.
Volunteer Boards
Each credit union is governed by a board of directors elected by and from the credit union’s membership. Unlike other financial institutions who pay hefty salaries to their board members, credit union board members serve on a volunteer basis – they do not get paid for their service.
Membership Eligibility
Due to state and federal statutes, credit unions cannot serve the general public. People qualify for credit union membership through some type of “common bond.” This common bond may be an employer, an organizational affiliation like churches or social groups, or by belonging to a specific local community.
Financial Education for Members
Credit unions assist members in becoming better-educated consumers of financial services. For example, credit unions have partnered with local schools and organizations like FoolProof and the National Endowment for Financial Education (NEFE) to bring reliable financial education to ALL consumers.
People Helping People
Credit unions exist to help people, not make a profit. The goal is to serve all the members well, including those of modest means – every member counts. Members are fiercely loyal for this reason. They know their credit union will be there for them in bad times as well as good. The same people-first philosophy encourages credit unions and their employees to get involved in community charitable activities and worthwhile causes.
News Releases
We provide releases to be picked up by news outlets and published for immediate use. We are a go-to source for news outlets covering credit unions, the economy, consumer finance, and more.
In The News
Anytime the GoWest Credit Union Association is recognized by a news source, we will publish that information here. We are a go-to source for news outlets covering credit unions, the economy, consumer finance, and more.
Resources for Reporters
Download helpful information for your audiences, including consumer research, infographics demonstrating credit unions’ economic and community impact, and logos.
Benefits of Membership
As not-for-profit, cooperative financial institutions, credit unions often are able to offer their members a better deal when it comes to loans, credit cards, and savings opportunities.
Economic & Community Impact
Credit unions are suitable for people, communities, and the economy. Last year, regional credit unions delivered a boost to the regional economy, contributed millions to charities, volunteered hundreds of thousands of hours in community services, and offered free financial education to tens of thousands of adults and students.
Interview Subject Matter Experts
GoWest is a trusted voice for trade and consumer-facing media outlets and had many subject matter experts on staff. Please reach out to Lynn Heider via email or by phone at 800.995.9064 x225 to arrange for interviews.
About Us
Association: GoWest Credit Union Association is the trade association representing more than 300 not-for-profit, cooperative credit unions in Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming and their 16.5 million total consumer members. We help our member credit unions with compliance, professional development, and advocacy for laws and regulations that remove barriers so they can better serve their members.
Foundation: Powered by a network of credit unions, GoWest Credit Union Foundation is uniquely positioned to harness and deliver resources that strengthen the financial lives of people and communities throughout the region. This is accomplished through asset building, economic empowerment, and cooperative development. The GoWest Foundation is a 501 (c) (3) organization.
Solutions: Serving as a collaborative hub, GoWest Solutions harnesses the power of cooperative intelligence to connect GoWest member credit unions with leading business partners in the industry. These world-class partners provide innovative solutions designed to help credit unions save money, stay up to date with emerging trends, deliver cutting-edge technology, and ultimately, better serve their diverse memberships.
Downloadable Logos
Upcoming Events
All EventsCDFI Roundtable Q2
Lenders Council; Session Two
Compliance Council; Sess. Two
On The Go Articles
Filene Research Institute Invites up to 50 Credit Unions to Enroll in Innovation Study
The deadline to enroll is May 31, and free participation is filled on a first-come, first-served basis.
Podcast: ‘How Five Credit Unions Joined Forces to Tackle Affordable Housing’
Washington-based credit unions joined forces to invest $11.1 million toward housing in the city of Renton.
Lenders are Critical to a Healthy Balance Sheet
Data presented at the Lenders Council demonstrated the “unprecedented loan growth” among credit unions in 2022, which exceeded the previous three years combined.