BOULDER, Colo. — The $736 million Elevations Credit Union, which converted from a federal to a state charter last March to take advantage of more liberal field of membership rules, has won regulatory approval to expand into all of two counties under its multi-group, community charter.
"We're pleased that we can now offer products and services not only to growing areas in Boulder and Broomfield Counties but can reach out to the underserved in those areas," explained Bill Sterner, president/CEO of Elevations and also chairman of the Colorado Credit Union Association.
The expansion, said Sterner, does underscore "the advantages of dual chartering" considering Elevations, formerly known as UofCFCU, was stymied in FOM growth under federal regulations. The attempt to expand FOM dates back to 2001, said Sterner.
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