SEATAC, Wash.–The GoWest Credit Union Association has declared 2025 the “Year of Financial Health,” which it said supports credit unions as a “great choice” for Americans seeking people-first financial services.
This announcement comes as the same time the organization said its 2025 GoWest Impact Reports became public. Those reports highlight the economic and social contributions of credit unions across the region.
‘Need Hasn’t Changed’
“Credit unions were created nearly 100 years ago to disrupt the traditional banking model,” President and CEO Troy Stang said in a statement. “The need for credit unions hasn’t changed. Americans continue to trend toward financial institutions that put them first. As families face continued economic uncertainty, credit unions offer a trusted financial partnership, providing not only exceptional value but also personalized solutions tailored to members’ needs.“
According to GoWest, the new 2025 Impact Reports showcase how credit unions drive positive social change and opportunities for members, and boost local and state economies through jobs, loans, and Gross Domestic Product (GDP).
The analysis was performed by Oxford Economics and involved an analysis of credit unions’ “positive impact” in Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming, which the association serves.
The Key Findings
GoWest said key findings from the reports include:
- Economic Contributions:
The report quantifies the significant contributions of credit unions in Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming.” - Social Impact: “Nearly all credit unions offer free financial literacy programs to help individuals make informed financial decisions, addressing unique financial needs with personalized services.
- Empowering Communities and Small Businesses: “Credit unions are a lifeline for entrepreneurs and small businesses, offering low-interest loans that reduce financial burdens and enable growth,” GoWest stated. “This people-first approach fosters local economic development and strengthens communities across the GoWest region.
- Value: “Consumer Financial Life Survey conducted by global management consulting firm McKinsey & Company in 2023 found that respondents who primarily relied on credit unions for financial services were more likely to perceive that they received extremely good value than customers of other financial institutions.”
- Innovation: “By embracing innovation, credit unions are modernizing digital tools and enhancing their member experience.”
The Impact Reports are available here: https://gowestassociation.org/impact/