logo
Error with device mobile widget id ads_slot-8
Error with device mobile widget id ads_slot-8
  • News
  • Retail
  • Opinion
  • Movers & Shakers
  • Business
  • Real Estate
  • Community
  • Entertainment
  • Food & Beverage
  • Archives
  • Free Subscription
    • News
    • Retail
    • Opinion
    • Movers & Shakers
    • Business
    • Real Estate
    • Community
    • Entertainment
    • Food & Beverage
    • Archives
    • Free Subscription
Error with device mobile widget id ads_slot-6
Error with device mobile widget id ads_slot-6
NuVista is only CDFI credit union on West Slope
News
TonyaonOctober 9, 2023
NuVista is only CDFI credit union on West Slope

Justin Tubbs
Montrose Business Times

Most likely haven’t heard the term CDFI.
NuVista Credit Union, however, takes pride in being a Community Development Financial Institution because that means it is poised to help build communities and give ownership to its members.
In all of Colorado, there are only five credit unions which are also CDFIs.
NuVista Credit Union is the only CDFI credit union on the Western Slope.
A CDFI is essentially a special designation given to financial institutions like banks, hedge funds and credit unions.
CDFIs can apply for certain grants, and when they’re awarded those grants, they can use them to benefit their members or to benefit their communities as a whole.
Being a credit union means NuVista is a not-for-profit financial institution.
Any money they make goes back to helping communities and its members.

How it started
NuVista Credit Union began as a financial institutions where federal employees could do their banking.
It was created in the 1960s and was intended to serve a specific population.
Many of its members are middle and low-income members who can benefit from the grant dollars that the credit union is awarded as a CDFI.
It earned its CDFI certification in 2019 and has already begun to see benefits.
In 2021, the institution was awarded a $1.8 million rapid response COVID grant.
And just recently they were awarded a $3.7 million through the equitable recovery program.
Those dollars will be spent in parts of Delta County, Montrose County and parts of Gunnison County.
“When we first applied for it, we decided we were going to use it to help with affordable housing,” said Sara Plumhoff, who was hired to manage and apply for grants.
“We decided we would give grants to organizations or peopel for affordable housing or we would do lending for individuals to help them purchase housing.”
After they were awarded the grants, they discovered they could use them for more than just affordable housing.
They can use them to help with lending rates or closing costs on housing for its members also.
In total, NuVista serves 7,000 members in Delta, Gunnison, San Miguel, Montrose and Ouray counties.
They care about serving the community and helping members in the form of providing loans and banking to achieve goals.

Justin Tubbs is the Montrose Business Times editor. He can be reached by email at justin@montrosebusinesstimes.com or by phone at 970-765-0915 or mobile at 254-246-2260.

Related Posts
Error with device mobile widget id ads_slot-4
Error with device mobile widget id ads_slot-4
Error with device mobile widget id ads_slot-2
Error with device mobile widget id ads_slot-2
Error with device mobile widget id ads_slot-7
Error with device mobile widget id ads_slot-7
MOST READ
More than 1,640 acres have burned as fire at Black Canyon of the Gunnison National Park is 0% contained
News
More than 1,640 acres have burned as fire at Black Canyon of the Gunnison National Park is 0% contained
By Justin Tubbs | MBT 
July 11, 2025
A wildfire sparked by lightning Thursday morning has forced the full closure of Black Canyon of the Gunnison National Park, burning more than 1,600 ac...
this is a test
Les Schwab Tires aims for July soft opening in Montrose
Business, News
Les Schwab Tires aims for July soft opening in Montrose
By Justin Tubbs Montrose Business Times 
July 10, 2025
Les Schwab Tire Centers will open a new, full-service store in Montrose on July 23, bringing more than a dozen jobs and a range of automotive services...
this is a test
Montrose County board moves forward without county manager after resignation, split over finalist
News
Montrose County board moves forward without county manager after resignation, split over finalist
By Justin Tubbs | MBT 
July 9, 2025
Montrose County’s top administrative position remains vacant after interim county manager Leslie Quon resigned Monday, prompting two days of public di...
this is a test
Recall effort launched against Montrose County Commissioner Scott Mijares, who pushed for fmr. county manager’s resignation
News
Recall effort launched against Montrose County Commissioner Scott Mijares, who pushed for fmr. county manager’s resignation
By Justin Tubbs Montrose Business Times 
July 7, 2025
A citizen-led effort to recall Montrose County Commissioner Scott Mijares is set to begin next week, with more than 100 volunteers preparing to gather...
this is a test
From survival to thriving: How a nonprofit has found new purpose in business cultivation
Community, News
From survival to thriving: How a nonprofit has found new purpose in business cultivation
By Justin Tubbs Montrose Business Times 
July 3, 2025
For years, the doors to MADA sat mostly closed — its future uncertain, its purpose fading. Once a vibrant hub rooted in Chicano pride and self-suffici...
this is a test

Subscribe for Free to the interactive E-edition. Each Wednesday.

subscribe
logo

The Montrose Business Times has established itself as the premier source for local business news, community updates, events, and trends in Montrose, Colorado, and its surrounding areas. Our mission is to inform and support the growth of our residents, businesses, business leaders, and entrepreneurs within our community—a commitment we hold with great sincerity. Our vision transcends the act of sharing success stories; we strive to create them. We believe in the transformative power of storytelling—how sharing experiences, insights, and personal journeys can ignite inspiration and drive meaningful change within our community. At the heart of our endeavor lies growth and impact. We are devoted to engaging with the community at large, ensuring that everyone has access to the remarkable stories and insights we present. Our offerings encompass digital news content, a weekly digital newspaper, and a variety of events—all designed to honor and celebrate the best that Montrose has to offer. We invite you to join us on this journey as we illuminate the narratives that shape our vibrant city. Professional Memberships: National Newspaper Association, Colorado Press Association, Colorado News Collaborative, LION Publishers, Montrose Economic Development Corporation, and the Greater Montrose Chamber of Commerce  

INFO

  • About Us
  • Advertising
  • Contact Us
  • Become a member
  • About Us
  • Advertising
  • Contact Us
  • Become a member

CONTACT INFO

montrosebusinesstimes.com

Montrose Business Times

501 E. Main Street

Montrose CO 81401

9707650915

submissions@montrosebusinesstimes.com

Got a story tip? Drop us a note at submissions@montrosebusinesstimes.com