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GoWest Declares 2025 the Year of Financial Health

The GoWest Credit Union Association has officially announced that 2025 will be celebrated as the Year of Financial Health. This pivotal movement emphasizes the advantages credit unions offer to Americans seeking financial services focused on people's needs rather than profit. The announcement coincides with the release of the 2025 GoWest Impact Reports, which elucidate the economic and social contributions these financial institutions make within communities across the Western region of the United States.

A recent survey reveals that approximately one-third of Americans are members of credit unions, which play an essential role in maintaining the financial health of over 140 million individuals. Differing from traditional banks, credit unions operate on a not-for-profit basis, ensuring that their earnings are reinvested into member benefits. This model leads to lower loan interest rates, competitive savings rates, reduced fees, and annual dividend returns.

Troy Stang, the President and CEO of the GoWest Credit Union Association, stated, "Credit unions were established over 100 years ago to challenge the conventional banking system. The necessity for credit unions has not diminished. Many Americans are turning to financial institutions that prioritize their needs. Amid ongoing economic challenges, credit unions provide a reliable financial partnership, delivering unparalleled value and customized solutions to meet members' unique financial challenges."

The report highlights various key findings that demonstrate how credit unions positively impact their communities:

• - Economic Contributions: It provides a detailed analysis of the considerable economic contributions credit unions make in states such as Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming.
• - Social Impact: Almost all credit unions offer complimentary financial literacy programs aimed at empowering individuals to make educated financial decisions and addressing specific financial needs through tailored services.
• - Support for Local Businesses: Credit unions are critical for small businesses and entrepreneurs, providing low-interest loans that mitigate financial strains while fostering local economic growth. This member-focused approach strengthens communities across the GoWest region.
• - Consumer Value: A survey conducted by McKinsey & Company in 2023 indicated that individuals who primarily utilize credit unions perceive they receive significantly higher value than those using traditional banks.
• - Innovation: By adopting innovative practices and technologies, credit unions are enhancing their digital tools and improving member experiences.

Stang encouraged everyone to consider joining a credit union, stating, "Choosing a financial institution that prioritizes you is the first step towards achieving financial health. Find a credit union nearby, compare services, and observe the difference. Whether you are saving for an essential goal, managing debts, or seeking ways to retain more of your hard-earned money, a credit union is here to support your financial journey."

The 2025 Impact Reports, available on their official website, illustrate the potential of credit unions to engender positive changes and nurture member welfare and regional economies through their unwavering commitment to customer satisfaction and community development.

About GoWest Credit Union Association

The GoWest Credit Union Association is a leading trade organization representing nearly 300 credit unions across Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming. Advocating for these credit unions corresponds with the interests of approximately 17.4 million consumers, continuing to craft an environment where financial health is accessible to all.

Contact Information:
Madlynn Schreibvogel
Vice President, Public Relations
303.513.3765
press@gowestassociation.org