Premier Members Credit Union was born from a partnership of two strong, financially sound credit unions with over 100 years of combined banking experience in both Boulder County and throughout Colorado:
- On May 1st, 2015 Boulder Valley Credit Union and Premier Members Federal Credit Union joined forces in a "merger of equals" to form a new credit union called Premier Members Credit Union.
These two great financial institutions exist today as one acting as your preferred local financial institution alternative. The combined Credit Union serves members and employers nationwide and across the world with most members residing in Colorado within Boulder, Denver, Arvada, Estes Park, Louisville, Broomfield, Westminster, Firestone, Greenwood Village, Longmont, and many other surrounding local communities.
Below is the history detailing where these two long-standing and successful financial institutions came from…
The History of Premier Members Federal Credit Union
During its 50 years of operation, Premier Members Federal Credit Union had grown from a small financial institution serving employees of the IBM Corporation to one that served thousands of members throughout Colorado and nationwide. When it merged with Boulder Valley CU it served 40,000+ members with more than $500 million in total assets. The following is a brief list of notable events in the history of Premier Members FCU:
- February 16, 1966 – A group of workers at IBM decided they wanted high-quality financial service. They were all previous credit union members, and they believed that the credit union philosophy of working together allowed for a better financial experience. Determined to establish a local credit union for themselves and for their coworkers, these twenty-five people joined together on February 16, 1966 and created what was originally called the IBM Boulder Federal Credit Union.
- In 1972, the credit union changed its name to better reflect its expanding member base. It became the IBM Colorado Employees Federal Credit Union.
- In 1975, the credit union’s excellent service helped it grow until it served IBM employees throughout the Rocky Mountain Region. On November 21, 1975, the credit union again changed its name, this time to IBM Rocky Mountain Employees Federal Credit Union.
- In 2000, other businesses noticed the high quality service and products the credit union offered, and they also joined, giving their employees the benefit of credit union care. With several new companies joining, the credit union was changing from a single company credit union for IBM into a diversified credit union, and its name needed to change. On January 3, 2000, the credit union adopted its current name: Premier Members Federal Credit Union.
- In 2002, Premier Members merged with Mile High Turkey Federal Credit Union, which served ConAgra’s poultry operations in Colorado. The merger allowed the credit union to expand its membership base, enabling it to offer a wider variety of products and services.
- In 2010, to continue improving its service to members, the credit union merged with Colorado United Credit Union. The merger gave the credit union three more branch locations, expanding its reach and offering more convenience to its members.
- Also in 2010, Premier Members merged with Farmer's Union Federal Credit Union, increasing its membership base and offering FUFCU members a wider variety of financial products.
The History of Boulder Valley Credit Union
During its 60+ years of operation, Boulder Valley Credit Union had grown from a small financial institution serving teachers in the Boulder Valley School District to one that serves thousands of members throughout Colorado and nationwide. When it merged with Premier Members FCU it served 25,000+ members with more than $320 million in total assets. The following is a brief list of notable events in the history of Boulder Valley CU:
- January 14, 1959 - Boulder Valley Schools Credit Union was organized and chartered.
- 17 enthusiastic charter members deposited their $5 and beginning assets totaled $85
- The office was a filing cabinet and a money box in a classroom at Casey Jr. High.
- Loan maximum amounts were set at $200 per member.
- By year-end, assets were $19,977 serving 119 members, deposit insurance was 15 cents, and expenses were $2.99.
- In 1963, the credit union moved to the basement of Central High School on 15th and Walnut.
- In 1971, the credit union moved to the Boulder Valley School District Education Center on 65th and Arapahoe.
- In 1976, BVCU expanded its field of membership to allow employer groups to affiliate.
- Estes Park School District was the first group to affiliate
- Assets were $2.5 million with 2,500 members.
- In 1987, the credit union removed "Schools" from its name and became Boulder Valley Credit Union.
- The office moved to 55th and Arapahoe.
- Assets were at $22 million, serving nearly 6,400 members.
- In 1994, students were eligible to join the credit union, membership reached 10,000 with $45 million in assets.
- In 1996, the Estes Park Branch was opened.
- In 1998, Boulder Community Hospital Credit Union merged with BVCU adding over 1,500 members.
- In 2003, in-house mortgages were introduced.
- In 2005, BVCU opened its fourth office in Louisville.
- In 2007, BVCU became the first fully eco-conscious bank or credit union in Colorado thereby setting the bar and leading the way as an example for other Colorado financial institutions. Included in the eco-efforts were: solar panels added to the building and a variety of recycle bins and proper waste disposal receptacals.
- In 2009, BVCU opened its first full-service student branch location at Boulder High. The student branch program was established as a financial literacy objective along with the school district.
- In 2010, BVCU opened student branches at both Monarch High and Fairview High
- In 2011, BVCU opened its fourth student branch at Centaurus High.
- In December 2012, BVCU became the primary credit union for Ball Corporation and its 3,000+ employees.