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Phil Smith has been promoted from chief operating officer to president of Credit Union of Colorado.
Smith had been COO at the credit union since 2010.
“Phil has served as an invaluable member of the Credit Union of Colorado team for more than a decade. It is my honor to congratulate him as he moves into the position of president,” said Terry Leis, Credit Union of Colorado’s CEO, last week. “Phil has been extremely impactful during his tenure and has developed relationships across all branches and departments. His leadership is steadfast, and he’s committed to the credit union’s ‘here to help’ mission. This promotion comes as the credit union prepares for continued growth and expansion."
Prior to joining Credit Union of Colorado, Smith was vice president of Public Service Credit Union. He serves as volunteer board president for the Community College of Aurora Foundation, and also has given his time as a CU Student Choice board member and an inaugural member of Filene’s innovative leadership program.
“I’m proud to have the opportunity to continue and foster Credit Union of Colorado’s legacy in my role as president,” Smith said. “Every day, our team endeavors to actively support our members and the communities we serve. I’m dedicated to the implementation of strategic, financially prudent, and innovative solutions — providing the best staff and member experiences while positioning the credit union for continued growth and expansion.”
As a new member of the Credit Union of Colorado, you have received or will receive a 1099-INT tax document from us in the mail, which shows the interest you have earned in the past year plus $15.
When you joined the credit union, we deposited $5 into a membership account and donated $10 to the Credit Union of Colorado Foundation on your behalf. Officially, this resulted in a total of $15 of reportable income. According to IRS regulations, we must include this amount in the “interest earned” box of the 1099-INT form.*
The $10 contribution to the Credit Union of Colorado Foundation is an eligible charitable donation you may be able to deduct from your 2022 income taxes. Please consult with an appropriate tax professional.**
*Full IRS requirements can be found here: https://www.irs.gov/instructions/i1099int
**CUofCO does not provide tax, legal, or investment advice. This message does not represent tax, or legal advice, and you should always consult your tax or legal advisor with questions regarding tax issues.
