Premier Members Credit Union is headquartered in Boulder and is the 7th largest credit union in the state of Colorado. It is also the 264th largest credit union in the nation. It was established in 1950 and as of June of 2020, it had grown to 270 employees and 77,633 members at 19 locations. Premier Members Credit Union's money market rates are 5X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership is open to anyone through making a $5 donation to Impact on Education (a charitable organization run by the Boulder Valley School District) through the credit union's online application. Membership is also open to the following: (1) those who live or work in Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson, Larimer, or Weld Counties in Colorado and to those; (2) employees of Ball Corporation, Boulder Community Health, Covedein, IBM, or Lexmark; (3) employees or students of Boulder Valley School District or School District 50; (4) affiliation with over 720 companies and organizations.
See current membership details
So Far So Good
I had a an old bond come reach final maturity. I wasn't ready to cash it in, but did not want to leave setting without earning anything. After looking at several options, I found this credit union and its money market account. At the time the interest rate was 3%. Now the rate is up to 4%, the same rate my bond was drawing. At least for small savings, up to $2,000, this is a great option and would recommend them.
The sign up process was a bit drug out and took about a week or longer to finalize. It took them a couple of days to get to my application, I then had to submit my several documents to them.
So far the signup process is the only down side for the amount of money I intend to keep here. Would recommend if you are only planning on depositing $2,000 or less.
Terrible Customer Service And App
Had been banking there for over a decade. Today was the day I finally left. Customer service was never good but put up with it. After several times of them not reaching back to me as they promised from simple account issues and info on HELOCs I decided it was time to leave. They’re always rude never helpful. Bye bye. Don’t bank there
Certified Check
Went to the Greenwood Village branch today with a certified check for $5900.00,was told they had to see how much money they had in vault,overheard there was plenty,told to take a seat while she waited for someone to go to vault with her,waited 15 minutes and was told they could only cash $1500.00 at a time,I drove 30 miles to get that,and they charged me $3.00 on top of that,don't think I would ever bank here.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 62574 |
| Year Chartered | 1950 |
| Employees | 270 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.48% |
| Return on Equity - YTD | 4.37% |
| Annual Interest Income | $22.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $1.38B$1.17B |
| Loans | Q2 2020vs Q2 2019 | $1.03B$889.7MM |
| Deposits | Q2 2020vs Q2 2019 | $1.17B$1.02B |
| Equity Capital | Q2 2020vs Q2 2019 | $147.8MM$136.0MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $7.6MM$5.4MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $3.2MM$2.5MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |
