COLORADO SPRINGS – Members of Ent Federal Credit Union are being asked to vote on whether to change from a federal to a state of Colorado CU charter.
Ent’s board of directors and management team on Tuesday released a statement recommending the membership approve the charter change as part of a “long-term strategy” to allow the organization to “better serve current members, while providing opportunities for growth.”
A change of credit union charter requires a majority vote, $4.1 billion Ent FCU said. Mail-in ballots will be sent to all eligible members within the week. Replacement ballots will be available at Ent Service Centers. Ballots must be cast by Oct. 29.
As part of the voting process, Ent will host a special member meeting. It said members will be able to ask questions about the proposed charter change and/or cast their ballots in person. The meeting will be held at 5:30 p.m. Mountain Time on Thursday, Oct. 29, in the Breckenridge room at Ent’s operations center here.
Ent said it has created an informational page on its website, which can be found online at
“A state of Colorado charter will provide Ent with more opportunities to expand our geographic field of membership, allowing us to serve more people, businesses and communities in Colorado, while providing increased service convenience for current members and increased opportunity for employees,” Randy Bernstein, Ent’s president and CEO, said in a statement.
“This proposed change is part of our long-term strategy to ensure the continued financial strength of the organization,” Bernstein continued. “In addition to the member and employee benefits, by diversifying our membership’s geographic and economic concentration, the credit union reduces the risk to the organization during adverse economic conditions.”
Ent was established in 1957. It now serves more than 250,000 members through 27 service centers throughout Colorado Springs, Woodland Park, Pueblo and Denver.
