Held March 13, 2025
Call to Order
Chairman Chris Wiant called the meeting to order at 6:50 pm. He welcomed the Credit Union’s volunteers, staff, and guests to the 68th Annual Meeting of Columbine Federal Credit Union.
Appointment of Recording Secretary
Chairman Chris Wiant appointed Janelle Mendelson as the recording secretary.
Determination of a Quorum
Chairman Wiant asked the clerk, Tammy Weigel, if there was a quorum present. Weigel confirmed that a quorum was present.
Meeting Agenda
Brent Fischer moved to adopt the agenda as presented. Laurie Kuntz seconded the motion, and the motion carried.
Approval of the Minutes of the 67th Annual Meeting
Chairman Wiant asked for a motion to dispense with the reading of the meeting minutes from the 67th Annual Meeting dated March 14, 2024, and approve as presented. The motion was made by Laurie Kuntz and seconded by Janelle Mendelson. The motion carried.
Old Business
Chairman Wiant asked if there was any old business to report. Arick Williams responded that there was nothing to report.
Reports
Chairman Wiant thanked the members for attending the 68th Annual Meeting of Columbine Federal Credit Union. He then presented the 2024 Board of Directors Chairman’s report and introduced the Board of Directors and the Supervisory Committee members that were present. Next, Chairman Wiant introduced Arick Williams,
Signed,
Chris Wiant
Chairman
Janelle Mendelson
Recording Secretary
who presented the President’s report and recognized the Credit Union’s staff and members in attendance. Chairman Wiant then stated that the Treasurer’s and the Supervisory Committee’s reports were included in the Annual Report given to the members. At that time, a motion to dispense with the reading of the reports and approve them as presented was made by Laurie Kuntz. The motion was seconded by Brent Fischer. The motion carried.
New Business
Chairman Wiant asked if there was any new business to come before the Board. No new business was identified.
Elections
Chairman Wiant then introduced the Nominating Committee and invited the Committee Chairman Deb McBride to present the Committee’s recommendations. McBride presented the Committee’s report. She stated that there were three open Board positions, and the Committee nominated incumbent Janelle Mendelson, new director Amy Barnes, and new director Ryan Lucas to fill those seats. Chairman Wiant then asked for nominations from the floor three (3) times. As there were no other nominations, a motion to accept the nominations as presented was made by Brent Fischer and seconded by Laurie Kuntz. The motion carried.
Adjournment
There being no further business, the meeting adjourned at 7:13 pm.
Signed,
Deb McBride
Chairman
Chris Wiant
Recording Secretary
The Credit Union, like most American households, has been challenged to navigate lingering inflation, higher interest rates, and increasing expenses. Regardless, the Credit Union outperformed budget by $59k in 2025, even through unexpected expenses exceeding $200k impacted our year. Some other successes included paying over $1M in dividends to our 6,600 members, seeing asset growth of 2.44%, and ending the year with a capital ratio of 11.98% which far exceeds our regulators threshold of 7.00% to be considered a healthy credit union.
Regarding Lending, the Credit Union launched the Refi Rebellion that allowed for a 3.00% reduction off current interest rates, a $300 cash incentive at closing, and even delayed payments for 90 days. Just think about the impact that had. With the average payment on used vehicles at $532 a month, that’s over $1,500 back in our members’ wallets for everyday expenses. In addition, we launched a “no closing costs” HELOC campaign, to make it more affordable for our members to access this incredible source of equity. We see members use HELOCs to consolidate debt and gain control of their budgets, afford life events like weddings, travel, and college, and turn their houses into their forever, dream homes.
In December, we did close the Porter branch due to low transaction volume, poor visibility within the community, and limited ability to provide expected conveniences like drive thru services or a drive-up ATM. I understand not everyone was happy with that decision, but I believe it’s important to say that we honored our promise from the merger to keep the location open through the current lease. That’s not the case in all mergers.
In addition, I’m proud of the work our team does to support our communities, local non-profits, and foundations. Examples include participating in the Colorado MC Expo to serve our niche motorcycle community, hosting a fundraiser for Big Dogs Huge Paws, sponsoring events for the Zonta Club of Denver and the South Metro Professional Firefighters Foundation, and giving back with our annual food and toy drives. Lastly, the work put in from our staff to combat the costs of higher education through the Columbine Connects Foundation is inspiring, and I encourage you all to find ways to support these efforts as well.
In conclusion, I want to thank the Volunteers for their selfless guidance and faith in the Executive Management Team. Our Volunteers commit countless hours to ensure our financial co-operative fulfills our mission to help others achieve their financial dreams. In addition, this year we recognize and celebrate Bob Patterson for his 21 years of Board service as he retires from the Board. His leadership has made an incredible and lasting impact on Columbine, and while he will be greatly missed in this role, we are grateful that he remains a valued member of our community.Secondly, the Columbine Staff deserves our truest appreciation. They are the soul that makes our Credit Union sincerely special, and their commitment to serve others is never wavering. Lastly, a huge thank you goes to our Membership. Their trust is the driving motivation behind our mission to serve our members and communities.
Arick Williams, MBA
President / CEO
In 2025, like every year, our priority at Columbine was to provide the best possible experience for our community of members. Behind the scenes, some of that work included an upgrade to our website to make it much easier to navigate with an anticipated launch in February 2026. Another project underway is enhancements to the debit/credit card functionality to better serve member needs.
Columbine leadership and the Board monitored the financial indicators on a monthly basis in order to offer the best interest rates for member loans and investments to keep us competitive with our peers. We also carefully managed Columbine’s operational budget and, as a result, beat our budget estimates by reducing expenses while exceeding expected investment income. In addition, we distributed $1.05 million to members through dividends. The credit union remains in a strong financial position with $78 million in assets and a very good net worth ratio.
After a careful assessment we closed the Porter Branch this year. With online options, shared-branch banking and the Dry Creek branch we believe there are options to maintain convenience in accessing accounts and services while saving on operational expenses that can be used to support services for our 6,600 members.
The Credit Union again supported a variety of community events and awarded several scholarships through the Columbine Connects Foundation. Events included a Zonta Club fundraiser, 5k races, a South Metro Firefighter Foundation golf tournament and a community resources fair hosted by Congressman Jason Crow.
Membership growth continues is as priority that we established in 2025. We created a business development position that was filled in August. Strategies are being developed to pursue that objective in 2026 including the simplification of the membership application process making it easier for prospective members to join.
We continue to invest in our financial health and future by serving our members and our community. We have hard-working staff, volunteers and management team who strive to offer the best possible service to our members. In a world that seems to grow ever more impersonal, we work to remind our members that when others don’t, we give a damn.
Chris Wiant, M.P.H., Ph.D.
Board Chair
As the Treasurer of Columbine Federal Credit Union’s Board of Directors, I am pleased to report that 2025 was another successful year. Over the last year, Columbine Federal Credit Union was able to provide superior financial products to our members while achieving continuous financial growth. The strength of the Credit Union is a testament to the loyalty and support that you, our members, have consistently shown throughout the years.
From a financial perspective, the overall results were positive. The Credit Union held strong in total equity while continuing to offer both competitive dividend rates on deposit accounts and interest rates on loans. At year-end, the Credit union reported over $78M in assets, of which, $43M were loans. Since loans allow us to provide a valuable return to members, they are an essential part of the Credit Union’s success.
In addition, net worth is one of the primary indicators of whether a credit union is financially sound. The Credit Union ended the year at 11.98%, which anything above 7% is considered “well-capitalized” by the National Credit Union Administration and indicates that your Credit Union remains financially strong.
As your treasurer, I believe that my primary responsibility is to ensure funds and resources are properly allocated to serve the membership. This year, as in past years, Columbine management gets high marks in this category. Thanks to their leadership, the Credit Union accomplished many of the goals outlined in its 2025 strategic plan, securing its ability to meet the needs of the membership by offering the products and services that can help you achieve your financial goals. Columbine’s net income for the year outperformed budget by over $59k because of their hard work and dedication.
The Asset Liability Committee meets regularly to review the financial markets and how changes in the equity and bond markets impact Columbine. The Committee also monitors local rates very closely to ensure that the Credit Union can quickly react to changes in dividend rates. This ensures that the membership continues to earn competitive rates on their hard-earned deposits. As a result, the Credit Union paid out more than $1M in dividends to our members in 2025.
With the hard work of the Credit Union staff and the support of our dedicated volunteers, we look forward to continued growth and success in 2026. Together, we can build upon last year’s promising financial performance and secure a stronger, more vibrant Columbine, capable of serving our member-owners both now and in the future.
Brent Fischer
Treasurer
Columbine Federal Credit Union’s Supervisory Committee, made up of 5 volunteer members, independently evaluates the strength and soundness of Columbine’s operations and activities. The Committee, alongside the Board of Directors, the President, and the senior management team, with the assistance of independent auditors, assures that the Credit Union’s assets are safeguarded by upholding procedures that comply with Generally Accepted Accounting Principles (GAAP). The Committee also assures that Columbine’s financial statements provide a fair and accurate representation of the Credit Union’s financial condition.
Our independent auditor, Cornerstone Resources, conducted a comprehensive review of Columbine’s financial statements for the period ending September 30, 2025, and the related statements of income, changes in retained earnings, and cash flows for the year utilizing agreed-upon procedures. As of the writing of this report, the Supervisory Committee and Board of Directors awaits the final report; however, they have indicated their report will not include any significant issues with the areas of the Credit Union’s financials that were evaluated. In addition to the annual agreed-upon procedures review, Cornerstone performed 3 internal reviews and the annual regulatory BSA/OFAC, ACH, and Safe Act audits throughout the year. These are ongoing reviews and audits to ensure that the Credit Union’s policies and procedures are being followed and quality internal controls are in place. After each review and/or audit, Cornerstone provides a detailed report to the Supervisory Committee, the Board of Directors, and Management.
The National Credit Union Administration (NCUA), which is the regulatory agency for all federally charted credit unions nationwide, performs periodic supervisory examinations. The last exam performed was also as of September 30, 2025. Like the internal audit, the Committee and Board of Directors await the final report, but they have indicated their exam found no major issues, and they continue to recognize Columbine as prudently managed and a financially sound institution. Based on the 2025 results of all the before mentioned reviews and audits, as well as the internal control work that the Committee performs on a regular basis, it is the opinion of the Supervisory Committee that Columbine Federal Credit Union continues to be financially strong and well managed financial institution with sound policies and programs. Columbine Federal Credit Union is also in compliance with the Credit Union’s by-laws and applicable federal and state laws and regulations.
The Supervisory Committee serves as your personal advocate determined to provide you with the highest quality member service and privileges. As committee members, we are proud to ensure you a safe and sound environment to conduct your financial business. We look forward to serving you in the future.
Brian Field
Supervisory Committee Chairperson
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