Aventa Credit Union expanding territory to three entire southern Colorado counties

February 14, 2017 Updated: February 14, 2017 at 4:27 pm
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Aventa Credit Union is seeking state approval to open its membership to anyone living or working in El Paso, Fremont or Pueblo counties as part of its growth strategy that included acquiring two other credit unions since 2009.

The 24,000-member credit union filed in December for Colorado Financial Services Board approval of the expansion, where Aventa already makes vehicle loans through local dealers, said Karin Kovalovsky, Aventa's vice president of corporate communications and marketing. The board is scheduled to consider the application April 7.

"We already have a lot of members from those counties, and those counties are where we have the greatest growth potential," Kovalovsky said. "We already operate two branches in Colorado Springs and one in Pueblo and serve our members in Fremont County through shared branches of other credit unions."

Aventa already can serve anyone who lives or works in Saguache County, which is southwest of Fremont County, as a result of acquiring Saguache County Credit Union and its three branches in 2012. The rest of Aventa's membership is limited to 52 employer groups, including the city of Colorado Springs, Colorado Springs Utilities and UCHealth Memorial Hospital.

Aventa employs about 70 people to operate its six branches and as of Jan. 31 had assets totaling $171 million, deposits of $151 million and loans of $135 million. Colorado Springs Credit Union was started in 1957 to serve Colorado Springs Utilities employees and changed its name to Aventa in 2009 just before acquiring Pueblo City Employees Federal Credit Union.

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Contact Wayne Heilman: 636-0234

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