A: Coloramo was founded in June 1953 here in Grand Junction. Up until 2002 we served only federal agency employees and select employee groups. We applied to convert to a Community Charter and we have been able to serve all Mesa County residents since 2002.
Q: What does Coloramo stand for? Is that a typo?
A: Coloramo is NOT a typo! Coloramo is an acronym for Colorado Raw Materials Office. A group of Department of Energy employees working in the Atomic Energy Commission Compound founded Coloramo in 1953. They were members of the Coloramo Social Club and hence, the name!
Q: How are credit unions different than other financial institutions?
A: We are a not-for-profit, member-owned financial cooperative. We offer a better value to our members because we don’t create fees to make a profit for stockholders. It’s the members’ money! We are the stewards of their money. The members ARE the owners…why charge yourself more than the cost of a service?
Every Coloramo member has an equal share in the credit union. The members vote for the volunteer Board of Directors. The Board of Directors are not some group of high paid executives who just want to see their stock go up. A credit union’s Board does this voluntarily because they are passionate about the credit union movement and philosophy of ‘People Helping People.'
We offer higher insured savings rates than most banks.
We offer lower loan rates than most banks.
We offer lower fees than most banks.
Membership Drive - as a member, earn $5 for every new member you refer who joins!
See a member service representative for further information about any of these products and services. Or call us at 970-243-7280.