Premier Members Credit Union achieves 1 billion in assets
BOULDER, CO (February 1, 2018) — Premier Members Credit Union announced that they have surpassed one billion dollars in assets as of December 31, 2017, placing the financial institution as the seventh largest credit union in Colorado. The announcement comes in the credit union’s 59th year in business.
“The entire credit union remains focused on building relationships and adding value every day with our members, employees and the communities we serve. This most recent milestone helps validate our mission while remaining financially sound and stable by providing competitive products, rates and services,” said Carlos Pacheco, Premier Members Chief Executive Officer. “We are grateful to our members for continuing to put their trust in us; we couldn’t have achieved this significant milestone without them.”
The success of the “merger of equals” between Premier Members Federal Credit Union and Boulder Valley Credit Union in March, 2015 saw the combined credit union increase to more than $820 million in assets at the time of the merger before eventually passing the billion-dollar mark at the end of 2017.
The more than 66,000 member, not-for-profit credit union is now ranked in the top five percent of U.S. credit unions based on asset size. Additionally, Premier Members Credit Union was ranked in the top 10 out of 247 total credit unions in their asset range on Callahan & Associates’ Return of the Member (ROM) index during 2017, demonstrating further how much the credit union’s rates and giveback benefit its members. The ROM index weighs aspects such as the credit union’s rates compared to its competitors, how many products and services the credit union offers, and how many members utilize these products.
Passing one billion dollars in assets was the perfect way to close out a calendar year that included the launching of exciting new products such as the 3% Money Market reverse-tier account and the Loan Interest For Education (LIFE) product offering. Premier Members Credit Union became the first financial institution in Colorado to introduce reverse-tier rates to its members in the form of a 3% Money Market account, where members can earn up to 3% on smaller savings balances. Premier Members also introduced the LIFE program to make donations to local schools through the profit-sharing of the Credit Union’s loan interest income. Premier Members closed the year with return-on-assets ratio of 0.98% and a strong net worth ratio of 10.80%.
About Premier Members Credit Union
Premier Members Credit Union is a not-for-profit financial institution dedicated to providing financial solutions to individuals and businesses in Colorado’s Front Range. With more than 77,000 members, $1.7 billion in assets, and 18 retail branches, Premier Members is a leader in the credit union industry. In addition to being at the forefront of the industry in sustainable business practices, Premier Members takes pride in giving back to the communities it serves, supporting a wide variety of partnerships with charitable and sustainable organizations like Community Foundation Boulder County, Eco Cycle, Impact on Education, Jack’s Solar Garden, United Way, Westminster Public Schools Foundation, and others. In 2021, Premier Members Credit Union was awarded first place in the Dora Maxwell Social Responsibility Community Service Award. It and has also been recognized as a Civic 50 Honoree each year since 2020, where the credit union was recognized as one of the 50 most community-minded companies in Colorado. To learn more, visit pmcu.org