Elevations appoints Michael Calcote as President and CEO

Elevations Credit Union announced that Michael Calcote has been appointed President and Chief Executive Officer, marking a strong and seamless next chapter for the Colorado-based, member-owned financial cooperative. 

Calcote has served Elevations for more than 15 years as Chief Financial Officer and Chief Risk Officer, playing a central role in strengthening the credit union’s financial foundation, long-term sustainability, and strategic growth. His appointment reflects continuity, confidence, and a shared commitment to the staff, members, and community. 

“Michael is a proven, trusted leader who deeply understands Elevations’ mission, values, and long-term strategy,” said Ray Martinez, Chair of the Elevations Credit Union Board of Directors. “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.” 

As CFO and Chief Risk Officer, Calcote has overseen accounting and finance, strategy and performance, credit risk management, internal audit, payments and controls, secondary markets, and corporate real estate. His leadership has helped position Elevations as a strong, stable, and forward-looking credit union serving Colorado families and communities. 

Prior to joining Elevations in 2010, Calcote served as Chief Financial Officer and Treasurer for Guaranty Bank, a publicly held regional bank headquartered in Austin, Texas. Earlier in his career, he spent five years as a regulatory examiner and capital markets specialist with the Office of Thrift Supervision. He holds a bachelor’s degree in finance and accounting from Stephen F. Austin State University and is a Chartered Financial Analyst®. 

Beyond Elevations, Calcote serves on the boards of the Federal Home Loan Bank of Topeka and Clinica Family Health & Wellness, reflecting his commitment to strong communities and responsible financial stewardship. 

“I’m honored to step into this role and continue the work we’ve been doing together,” said Calcote. “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.” 

Under Calcote’s leadership, Elevations will continue executing its existing business strategy, investing in people, evolving how it serves members, and reinforcing its role as a trusted financial partner through every stage of life. 

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 is one of the top ten credit union residential mortgage lenders 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 over 179,000 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. Learn more at http://www.elevationscu.com/.