Colorado Trust Co. Marks 1st Birthday, Makes Plans To Step Up Its Expansion
Members Trust Company - formed by a consortium of six Colorado credit unions and the Colorado CU League-has quietly marked its first anniversary.
The plan now? Not to be so quiet.
CEO Tim Kenczewicz said he is "extremely pleased" with the company's direction, despite a slow start in a market
Members Trust offers trust services to members of the six founding CUs, which it calls "shareholder" credit unions,
"We're trying to take it one step at a time," he said. "To offer trust services properly, you can't spread yourself too
Members Trust, based in this Denver suburb, manages 74 trusts totaling over $20 million in assets. Kenczewicz said
The average size is slightly larger than expected, he said, and trusts range from under $100,000 to several million
"It took a little longer for us to see accounts generated out of credit unions," said Kenczewicz. "Our early accounts
Other factors that kept a lid on growth included the struggling economy and residual effects of the Sept. 11 terrorist
Members Trust is working on raising awareness among CU members that trust services are available. In addition to
"We have been concentrating on Colorado, but we are talking about expanding into Wyoming. We are trying to get