Credit unions get OK to expand membership

BOULDER – Both Boulder Valley and Elevations credit unions have plans to expand after receiving approvals from the Colorado Division of Financial Services.

Boulder Valley Credit Union plans to “grow more aggressively” after receiving approval to expand potential membership to anyone, not just teachers, in Boulder and Broomfield counties and the Estes Park area, according to a press statement. No specific growth plans were immediately available.

Elevations Credit Union plans to “explore options in Larimer County” after getting a similar approval to expand its membership in Larimer and Adams counties, said Dennis Paul, assistant vice president. The credit union already has branches in Loveland at 2495 E. 13th St., and in Westminster at Sheridan Crossing Shopping Center, 4750 W. 120th Ave., No. 700.

“As eligibility requirements continue to change in our industry, this concept of a community field of membership is pretty important,” Paul said of the new approval. “It reduces perceived barriers to membership.”

Elevations also has plans to open a branch in Louisville in 2013, Paul said.

Elevations has 11 branches – four in Boulder, four in Longmont, one each in Lafayette, Loveland and Westminster. One of the Longmont branches is at Skyline High School.

The credit union has more than $1.1 billion in assets and serves 96,000 members. It was founded in 1953 to serve the University of Colorado community, but now can serve any potential member in the communities it serves.

Boulder Valley Credit Union has two branches in Boulder, one in Louisville and one in Estes Park. The credit union also has branches at Boulder and Fairview high schools in Boulder, Monarch High School in Louisville and Centaurus High School in Lafayette.

BVCU, founded in 1959 to serve the faculty and administrators of the Boulder Valley School District, has more than $260 million in assets and 20,000 members.

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