The proposed deal, which awaits a member vote and regulatory approval, would unite two Ogden-founded credit unions into a $4 billion-asset organization with 55 branches.

Ascent Federal Credit Union, a small but longstanding institution based in Ogden, Utah, has announced plans to merge with the far larger Goldenwest Credit Union in a move that would create one of the biggest credit unions in Utah and Idaho.

Ascent, which holds $169.8 million in assets and serves 9,265 members, reported $172,000 in earnings during the first three quarters of 2025, up from $87,000 a year earlier, according to NCUA call report data.

Founded in 1957 as Weber College Employees Federal Credit Union, the institution framed the proposed merger as the next evolution in its nearly 70-year history.

In a press release, Ascent said it “has been through many chapters” since its founding, serving faculty, staff, students, and alumni of Weber State University before expanding to surrounding communities. Despite these changes, it said, “our mission has remained the same – to inspire upward financial success.”

Now, the credit union said, it has “an opportunity to elevate our mission to new heights while remaining true to our history and returning to our roots,” announcing that its board and executive leadership “have agreed to enter the merger process with Goldenwest Credit Union.”

Goldenwest, headquartered in Washington Terrace, Utah, manages $3.9 billion in assets and serves 206,500 members. It posted $46.5 million in earnings during the first nine months of 2025, up from $36.7 million during the same period last year.

If approved, the combined organization would operate 55 branches, hold roughly $4 billion in assets, and serve more than 215,000 members, Ascent said. Members of Ascent will have the opportunity to vote on the proposal, with additional details forthcoming.

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The two institutions emphasized shared origins and community ties. “Both organizations were founded in Ogden and remain headquartered in Weber County,” Ascent said, noting their “solid financial foundation and a deep commitment to serving our members, employees, and the Weber State University community.”

As part of the merger, Ascent’s name would change to Weber State Credit Union, a division of Goldenwest, a shift meant to “revitalize the university brand and loyalty, hailing to our history while building an expanded relationship with the power of resources from Goldenwest.”

Ascent highlighted several benefits for its members, including access to 51 additional branches across Utah and Idaho, a broader suite of deposit, lending, insurance, and investment products, and deeper support of its Weber State University ties. “This is a strategic step to ensure long-term value and added convenience for you and your family,” the credit union said.

Goldenwest, for its part, said the merger would add four Weber County branches to its network: Ogden (Harrison Boulevard), North Ogden, Roy, and the Weber State University campus in the Shepherd Union Building. The credit union said it anticipates completing the merger in 2026.

The announcement comes as Goldenwest prepares for a leadership transition. In November, the credit union appointed its executive vice president, David Butterfield, to serve as president and chief executive beginning July 1, following the planned retirement of current CEO Kerry Wahlen.

If finalized, the merger would mark one of the more significant consolidations in Utah’s credit union landscape, combining two institutions with deep roots in the region into a single, far larger player.

“Together, we truly believe this merger strengthens not only our credit unions, but the entire Weber State community we proudly serve.”

– Kerry Wahlen
CEO
Goldenwest Credit Union