Premier Members Credit Union adds three counties to its FOM

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Premier Members Credit Union in Boulder, Colo., is adding three counties to its field of membership.

The $1.2 billion-asset institution said on Tuesday that the expansion had been approved by its state regulator, the Colorado Financial Services Board, on July 19.

Premier Members CU already served Boulder, Larimer, Weld, Jefferson, Broomfield, Arapahoe, Denver, Adams and Douglas counties. To that list the latest membership expansion adds El Paso, Elbert and Pueblo counties. Anyone who lives or works within those counties will be eligible for membership.

According to Jason Bauer, the CU’s chief marketing officer, adding the three new counties will mean it gets to “redefine” the geographic areas it serves.

“Our goal is to grow our membership base and make it easier for individuals who live or work within these counties to enjoy the benefits of banking with Premier Members Credit Union,” Bauer said in a statement.

In its most recent call report, Premier Members CU had roughly $5 million in net income during the first six months of this year, down 6.6% from the same period in 2018. As of June 30, it was well capitalized with a net worth ratio of 10.76%.

Premier Members Credit Union was chartered in 1950. Today it serves more than 73,000 members via 13 branches and four locations in high schools.

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