BVCU runs another credit union’s branch

BOULDER – In an agreement unique to the credit union industry, Boulder Valley Credit Union now is running the Indiana Members Credit Union branch at 4895 Riverbend Road in Boulder.

Financial terms of the transaction were not disclosed. The changeover happened Monday, Dec. 3, according to a Boulder Valley Credit Union press statement. Workers at the Indiana Members Credit Union remain at their jobs at the branch.

“Cooperating in this way allows both credit unions to increase operating efficiencies as well as improve service to the IMCU Colorado members and their families,” Rick Allen, president and chief executive of Boulder Valley Credit Union, said in the press statement.

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The agreement comes a month after BVCU received approval from the Colorado Division of Financial Services, a credit-union regulator, to expand its membership from teachers to any Colorado resident.

The new branch gives BVCU three 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 $265 million in assets and 20,000 members.