The Credit Union Difference
Q: Is Coloramo new? I haven’t heard of them before 2002?
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: Is Coloramo locally owned?
A: Coloramo started in Grand Junction and is owned by its members, most of whom live and work here! So, yes, Coloramo is locally owned!
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!
Remote Deposit Capture
Instant Issue Debit/Credit Card
Specialized Loan Protection Options
VISA Debit Cards
VISA Credit Cards
VISA Gift Cards
Online Bill Pay
Coloramo Audio Teller
Domestic and International Wire Transfers
Automatic Transfers and Payments
Safe Deposit Boxes
5,000+ Co-Op Shared Branching Locations
29,000+ Co-Op ATM Locations
Auto and Recreational Loans
Indirect Lending at Participating Dealers
Real Estate Loans
Overdraft Line of Credit
Credit Life and Disability Loan Protection Options
GAP Loan Protection(Guaranteed Asset Protection)
Financial Investment Counseling
See a member service representative for further information about any of these products and services. Or call us at 970-243-7280.