BOULDER, Colo. – Former IBM employees credit union Premier Members FCU has received regulatory approval to merge $71 million Colorado United CU into it.
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Denver-based Colorado United reported a $927,000 loss for the first three quarters, after a $700,000 net for 2008.
Premier Members has $320 million in assets and reported a $3.5 million net for the first three quarters, even after a $400,000 charge for the corporate credit union bailout.
Rhett Rowe, president of Premier America, will head the $390 million and Branda Abott, president of Colorado United, will become president and chief operating officer for merged institution.
