GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--This month, Bellco will celebrate its 80th anniversary as a credit union dedicated to helping members reach their short- and long-term financial goals. Founded in 1936 as the credit union for Mountain States Telephone and Telegraph employees, Bellco has since grown into one of Colorado’s largest financial institutions, open directly to individuals and businesses throughout the state.
“Bellco was founded during the heart of the Great Depression after President Franklin D. Roosevelt signed the Federal Credit Union Act into law in order to give ordinary citizens access to affordable credit to cover things like their electric bills,” said Doug Ferraro, Bellco’s Chief Executive Officer. “While we have certainly evolved and grown over time as the industry has transformed, what hasn’t changed is our dedication to serving our local communities and building direct relationships with our members.”
Now with more than 260,000 members and over $3 billion in assets, Bellco approaches its 80th anniversary on the heels of the most successful year in its history. In 2015, Bellco saw 8% growth in new members as well as double-digit growth in both loans and deposits. In addition, Bellco continues to build upon its longstanding history of giving back to the communities it serves by donating to more than 100 local community organizations and sponsoring more than 50 community events.
“As we approach this major milestone, we are grateful first and foremost for the ongoing support and confidence of our members,” said Ferraro. “It is because of them that we’ve been able to achieve the successes we have – both in terms of our business and our philanthropic endeavors. We look forward to the next 80 years and beyond, partnering with our members to ensure the ongoing growth and vitality of our credit union.”
About Bellco
Founded in 1936, Bellco has more than 260,000 members and over $3 billion in assets. It operates 21 branches in the Denver metro area and one branch in Grand Junction. Bellco offers a wide variety of financial services including checking accounts, credit cards, auto loans and mortgages, as well as mobile banking and business loans. And as a member-owned cooperative, Bellco offers incredibly competitive interest rates on auto, home and personal loans, plus higher yields on deposits. Membership eligibility is required. Bellco is federally insured by NCUA and is an Equal Housing Opportunity lender.
