Calcote takes helm at Elevations Credit Union

BOULDER — Michael Calcote has taken the reins as president and CEO of Boulder-based Elevations Credit Union. He succeeded Gerry Agnes, who retired effective Feb. 28 after having led the organization since 2008.

Calcote has served Elevations for more than a decade as chief financial officer and chief risk officer.

“Michael is a proven, trusted leader who deeply understands Elevations’ mission, values and long-term strategy,” Ray Martinez, who chairs Elevations’ board of directors, said in a prepared statement. “He has helped guide this organization through growth, change and opportunity, always with a steady focus on relationships, thoughtful planning and doing what’s right for our members.”

Before joining Elevations in 2010, Calcote served as CFO and treasurer for Guaranty Bank, a publicly held regional bank headquartered in Austin, Texas. Earlier in his career, he spent five years as a regulatory examiner and capital-markets specialist with the Office of Thrift Supervision. He holds a bachelor’s degree in finance and accounting from Stephen F. Austin State University and is a Chartered Financial Analyst.

Calcote also serves on the boards of the Federal Home Loan Bank of Topeka and Clinica Family Health & Wellness.

“I’m honored to step into this role and continue the work we’ve been doing together,” Calcote said in a news release. “Elevations is built on cultivating relationships, and that won’t change. We have a strong business plan, a talented team and a clear direction. I’m excited to build on that foundation and continue serving our members and communities across Colorado.”

Founded in 1952 as the U. of C. Federal Credit Union in Boulder, the organization has grown from 12 members and less than $100 in assets to more than 179,000 members, more than 550 local employees and approximately $3.5 billion in assets.

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