Denver Community Credit Union Recognized in 33rd Annual ColoradoBiz Top Company Awards
Denver Community Credit Union was named the top financial services provider by ColoradoBiz magazine in its 33rd Annual Top Company Awards program.
Winners of the 2020 ColoradoBiz Top Company Awards were unveiled in the statewide business magazine’s September-October issue that also profiled 44 finalists in 15 industry categories.
The ColoradoBiz magazine program, now in its 33th year, recognizes outstanding businesses headquartered in Colorado or with significant presence in the state. Entrants were judged on three criteria: outstanding achievement, financial performance and community involvement.
Denver Community Credit Union took top honors in the financial services category. The 86-year old, member-owned credit union creates products and services to empower the financial decisions of its more than 31,000 members in Adams, Arapahoe, Jefferson and Denver counties.
“Our size allows us to be large enough to provide traditional products like mobile banking, but small enough to develop products in response to our local community’s needs,” Co-CEO Tessa Bonfante said. “We are able to keep our deposits local, because of our structure, with about 85% of all deposits being returned directly to our local economy in the form of loans to members and local businesses.”
After initial screening by audit, tax and consulting firm RSM US to identify the finalists in each category, the Top Company judging panel, made up of editorial staff from the magazine and representatives from the business community, convened to pore over the finalists’ nominations and tap the winners.
“The Top Company Awards program is widely viewed as the most competitive business award of its kind,” ColoradoBiz Publisher Sylvia Harmon said. “In this year of unprecedented challenges, it’s especially gratifying to recognize companies and organizations that managed to maintain — and in some cases even elevate – their level of performance.”
Denver Community Credit Union provides financial education for its members through the Clear Money Program, which features financial coaching sessions and online courses. Other resources include such things as an alternative to payday lending for members in need of a small dollar emergency loan, hoping to keep people out of the cycle of debt.
“Our credit union’s purpose is not profit, but advancing the financial opportunity of our members, our staff and our community,” Co-CEO Shane Silvernale said. “We ask ourselves with each decision if this choice is in the best interest of our member-owners.”
Its #DenverCommunityGives initiatives gave back to the community through giving drives, service projects and volunteerism, including donations of 1,617 pounds of food to a local anti-hunger organization and 1,281 volunteer hours with area nonprofits in 2019 alone. Team service projects included building outreach kits for homeless veterans and making 30 fleece blankets for those in crisis.
To read the complete article, please visit https://www.cobizmag.com/top-company-2020-financial-services/