Elevations Credit Union appoints Gytis Tuminas as Chief Financial Officer. Date: 03/24/2026 By: Team Elevations Share via: Elevations Credit Union announced the appointment of Gytis Tuminas as Chief Financial Officer, following the recent appointment of former CFO Michael Calcote into the role of President and CEO. In his new role, Tuminas will oversee finance and accounting, along with several functions that support strategy, performance, and organizational effectiveness. He will continue to guide strategic and business plan execution across the organization, with a focus on operational excellence and long-term financial strength. Tuminas joined Elevations in 2007 and has held a variety of roles across the organization, building deep expertise in financial management, risk management, budgeting and forecasting, regulatory compliance, and team development. He began his career at Elevations as a teller, a perspective that continues to shape his leadership approach and his commitment to valuing ideas from all levels of the organization. "Gytis brings a rare combination of strategic rigor, operational insight, and institutional knowledge," said Michael Calcote, President and CEO of Elevations Credit Union. "He's a forward-thinking leader, and he's been instrumental in strengthening our financial foundation and advancing how we operate as an organization." Tuminas holds a bachelor's degree in finance from the Leeds School of Business at the University of Colorado Boulder and is an honors graduate of Western CUNA Management School. He is actively engaged in the local community through board service as Vice Chair of the Local Change Foundation, Treasurer of the WOW! Children's Museum, and a board member with Rocky Mountain Performance Excellence. About Elevations Credit Union Elevations Credit Union empowers its members and the communities it serves along Colorado's Front Range with financial solutions and education. In addition to offering a broad portfolio of consumer and business banking services, Elevations ranks as the No. 1 credit union residential mortgage lender by purchase volume in Boulder, Broomfield, and Larimer counties. Founded in 1952 as the U. of C. Federal Credit Union in Boulder, the organization has grown from 12 members and less than $100 in assets to over 180,000 members, more than 550 local employees and approximately $3.5 billion in assets. Elevations became a two-time recipient of the Malcolm Baldrige National Quality Award in 2020 and first received the award in 2014. The credit union also earns local awards along Colorado's Front Range for Best Bank, Best Mortgage Lender and Best Customer Service. Elevations is also the first two-time winner of the Denver Business Journal's Diversity, Equity and Inclusion Awards. Learn more at www.elevationscu.com. Personal Finance How to maximize giving impact with qualified charitable distributions. 03/18/2026 Qualified charitable distributions are a tax-efficient way to support the causes you care about. Enjoying its blog? Choose which topics you'd like to receive updates on and start enjoying everything from tips on managing your finances to stories from its community. Your information. Indicates a required field

Elevations Credit Union names longtime executive as new CEO. Michael Calcote will lead the Colorado-based institution following the retirement of Gerry Agnes after nearly two decades at the helm. Elevations Credit Union has named Michael Calcote as its next president and chief executive, entrusting a longtime senior executive with guiding the Boulder, Colo.-based institution into its next phase of growth. Calcote, who has spent more than a decade with the organization serving as both chief financial officer and chief risk officer, succeeds Gerry Agnes, who retired Feb. 28 after leading the credit union since 2008. The leadership transition comes at a time of steady growth for the institution, which has expanded significantly since its founding more than 70 years ago. Established in 1952 as the University of Colorado Federal Credit Union with just 12 members and less than $100 in assets, the organization now serves about 180,000 members across Colorado. It employs more than 550 people and manages roughly $3.5 billion in assets. Financially, the credit union has continued to build on that growth. Elevations reported more than $37 million in earnings in 2025, up from nearly $35 million the year before, according to NCUA call report data. Calcote has played a central role in shaping the institution's financial strategy and operational stability during that expansion. In his roles as chief financial officer and chief risk officer, he has overseen accounting and finance, strategy and performance management, credit risk oversight, internal audit, payments and controls, secondary markets and corporate real estate. Ray Martinez, chair of the credit union's board of directors, said Calcote's experience within the organization made him a natural choice to lead the institution. Story continued below... Free case study. Oregonians Credit Union achieved mobile excellence with nFinia. With nFinia as their platform and empathy as their foundation, Oregonians CU has built a model where innovation and human care work hand in hand. It's not a choice between high tech and high touch. Done right, you can have both. Read its exclusive case study and learn how they elevated their digital banking and mobile experience. "Michael is a proven, trusted leader who deeply understands Elevations' mission, values, and long-term strategy," Martinez said. "He has helped guide this organization through growth, change, and opportunity, always with a steady focus on relationships, thoughtful planning, and doing what's right for our members." Calcote joined Elevations in 2010, bringing with him experience from both banking and regulatory oversight. Before arriving at the credit union, he served as chief financial officer and treasurer for Guaranty Bank, a publicly held regional bank based in Austin, Texas. Earlier in his career, he worked as a regulatory examiner and capital markets specialist at the Office of Thrift Supervision, the now-defunct federal agency that oversaw savings and loan institutions before its functions were absorbed by other regulators following the financial crisis. Calcote holds a bachelor's degree in finance and accounting from Stephen F. Austin State University and is a Chartered Financial Analyst. In a statement announcing his appointment, Calcote said the credit union's core focus on relationships and community service would remain central to its strategy. "I'm honored to step into this role and continue the work we've been doing together," Calcote said. "Elevations is built on cultivating relationships, and that won't change. We have a strong business plan, a talented team, and a clear direction. I'm excited to build on that foundation and continue serving our members and communities across Colorado." Calcote takes over from Agnes, whose tenure at the credit union spanned nearly two decades and coincided with a period of major expansion and community engagement. During that time, the credit union also launched the Local Change Foundation, a charitable initiative supported in part by Elevations. Since its founding in 2010, the foundation has provided more than $4 million in resources to community programs. With Calcote now in place, Elevations enters its next chapter under a leader who has spent years helping shape its financial direction and strategic planning - a transition the board hopes will provide continuity as the institution continues to grow in Colorado's competitive financial services market. "We have a strong business plan, a talented team, and a clear direction. I'm excited to build on that foundation and continue serving our members and communities across Colorado." - Michael Calcote President & CEO Elevations Credit Union

CFO elected to FHLBank Topeka board. Elevations Credit Union announces Chief Financial Officer Michael Calcote has been elected to serve on Board of Directors for the Federal Home Loan Bank of Topeka, currently effective as of Jan. 1, 2026. Calcote will become the first credit union representative to serve on the board, underscoring Elevations' commitment to supporting the housing market. "This is such an honor to join the Board and help support their mission of building strong communities," Calcote said. "I'm grateful for the opportunity to contribute to such an impactful organization." Calcote also serves as chief risk officer at Elevations, overseeing accounting and finance, secondary markets, internal audit, payments and controls, credit risk management, strategy and performance, and corporate real estate. His leadership helps to ensure Elevations' long-term financial sustainability and strategic growth. Previously, Calcote served as CFO and treasurer for Guaranty Bank in Austin, Texas and worked as a regulatory examiner and capital markets specialist for the U.S. Office of Thrift Supervision. FHLBank Topeka also announced board appointments of Jeffrey R. Noordhoek, CEO of Nelnet, Inc., and Paul Washington, a Boulder-based investor. Both have previously served on the board. FHLBank Topeka is one of 11 Federal Home Loan Banks that provides liquidity and funding to build vibrant communities for its member banks, thrifts, credit unions, insurance companies and community development financial institutions. With $79.9 billion in assets and more than $4.1 billion in capital, FHLBank Topeka serves 651 member financial institutions in Colorado, Kansas, Nebraska and Oklahoma. Its board of directors oversees policy decisions and ensures that FHLBank's senior managers prudently operate the Bank. Currently, 14 directors serve on the board. Find out more at www.fhlbtopeka.com(Opens in a new window). Elevations Credit Union empowers its members and the communities it serves along Colorado's Front Range with financial solutions and education. In addition to offering a broad portfolio of consumer and business banking services, Elevations is the No. 1 credit union residential mortgage lender by purchase volume in Colorado. Founded in 1952 as the U. of C. Federal Credit Union in Boulder, the organization has grown from 12 members and less than $100 in assets to nearly 178,000 members, more than 550 local employees and approximately $3.4 billion in assets. Elevations became a two-time recipient of the Malcolm Baldrige National Quality Award in 2020 and first received the award in 2014. The credit union also earns local awards along Colorado's Front Range for Best Bank, Best Mortgage Lender and Best Customer Service. Elevations is also the first two-time winner of the Denver Business Journal's Diversity, Equity and Inclusion Awards. Learn more at www.elevationscu.com. Mortgage update: new loan limits for 2026. The FHA has updated mortgage loan limits for 2026. Here are the limits for the counties served by Elevations. Elevations Credit Union CEO Gerry Agnes to retire after 17 years of transformative leadership. Elevations Credit Union announces the upcoming retirement of President and Chief Executive Officer Gerry Agnes, who has led the organization since 2008. Elevations Credit Union donates $30,000 to local food banks ahead of thanksgiving. Elevations Credit Union has donated $5,000 to Food Bank for Larimer County's Tour de Turkey food drive in addition to a donation earlier this month of $25,000 to Community Food Share, serving Boulder and Broomfield. Enjoying its blog? Choose which topics you'd like to receive updates on and start enjoying everything from tips on managing your finances to stories from its community.