About Financial Services
The Division of Financial Services protects the consumer through the regulation and supervision of state-chartered Credit Unions and Savings and Loan Associations, the administration and enforcement of the Savings and Loan Public Deposit Protection Act (PDPA), and certain financial activities of life care institutions.

About Financial Services



In 1931, Colorado began chartering credit unions, when the General Assembly passed the Credit Union Act. Regulation of credit unions, savings and loan institutions and trust companies is conducted by what is now known as the Division of Financial Services. The Division seeks to fulfill this mission in its own areas of statutory responsibility, which are as follows:

  • Examination and supervision of state-chartered credit unions 
  • Examination and supervision of state-chartered savings and loan associations 
  • Administration and enforcement of the Savings and Loan Public Deposit Protection Act
  • Regulation of certain financial activities of life care institutions

State-chartered credit unions operate under the supervision of the Division. The Division is empowered to approve applications to incorporate new state credit unions and to approve mergers between credit unions. State credit unions are examined regularly by the Division staff to evaluate their financial condition and compliance with applicable laws and regulations. The Division's credit union examination and supervision program has been accredited by the National Association of State Credit Union Supervisors for a five-year period and is subject to annual reviews.

The Division is empowered to approve applications to incorporate new state-chartered savings and loan associations, approve branch office applications for existing associations, approve mergers between associations, and approve changes of ownership. The Division staff examines state savings and loan associations on a regular basis to evaluate their financial condition and compliance with applicable laws and regulations.

For the protection of consumer savings, all state savings and loan associations and all credit unions that serve Colorado citizens are required to maintain federal deposit insurance.

The Division also administers and enforces the Public Deposit Protection Act for savings and loan associations. State and federal savings and loans designated by the Division as eligible public depositories must pledge collateral to secure any deposits in excess of the federally-insured limit accepted from Colorado governmental units.

The Division regulates certain financial activities of life care institutions, which provide long-term residence and care for the elderly. The Division may initiate enforcement action against violations of the law by life care providers.

The Division also handles consumer complaints and information requests regarding the industries it regulates.

For information on the Division's expenditures and revenues, please visit the Transparency Online Project (TOP).

  • Electronic Funds Transfers: §11-48-101, CRS

The Division's staff operates under the policy-making and rule-making authority of the Financial Services Board, which consists of five members appointed by the Governor and confirmed by the State Senate. The Financial Services Board issues rules and regulations governing the industries regulated by the Division, may delegate many of its authorities to the State Commissioner of Financial Services, and hears appeals of actions taken by the Commissioner under delegated authority.

The Division is wholly or partially responsible for administering and/or enforcing the following Colorado Revised Statutes (C.R.S.):

  • Credit Unions: §11-30-101, CRS
  • Savings and Loan Associations: §11-40-101, CRS
  • Protection of Deposits of Public Moneys: §11-47-101, CRS
  • Life Care Institutions: §12-13-101, CRS
  • Uniform Consumer Credit Code: §5-1-101, CRS



The five-member Governor-appointed Financial Services Board is the policy and rule making authority for Financial Services. The Board consists of three members who are executive officers of state credit unions, one member who is the executive officer of a state savings and loan association, and one member to serve as a public member of the Board who shall have expertise in finance through current experience in business, industry, agriculture, or education.

Gerald Agnes (Chairman)
Elevations Credit Union
2300 55th Street
Boulder, CO  80301
First Appointed: 06/27/19
Current Term Expires: 07/01/23
Represents: Credit Unions

Michael M. Hurst (Vice Chair) 
Del Norte Bank, a Savings & Loan Association
705 Grand Avenue
Del Norte, CO  81132
First Appointed: 08/12/13
Current Term Expires: 07/01/25
Represents: Savings & Loan Associations

Michael A. Williams
Colorado Credit Union
9331 Continental Divide Road
Littleton, CO 80127-0001
First Appointed: 07/26/17
Current Term Expires: 07/01/25
Represents: Credit Unions

Shane Silvernale
Denver Community Credit Union
1070 Acoma
Denver, Colorado 80204
First Appointed: 06/15/21
Current Term Expires:07/01/23
Represents: Credit Unions

Mickey Freeman
First Appointed: 01/22/21
Current Term Expires:07/01/25
Represents: Public Member

Mark Valente

Mark Valente

Mark Valente was appointed as the Financial Services Commissioner for the state of Colorado on May 1, 2019. Commissioner Valente ensures the safety of over $32 billion in deposits by 1.5 million consumers in Colorado’s credit unions, savings and loan associations and life care institutions. 

He is involved in the examination and enforcement functions of the Division of Financial Services, subject to the policy- and rule-making authority of the Financial Services Board, for all Colorado state-chartered credit unions. In addition, he is primary regulator for all state chartered savings and loan associations and certain financial aspects of life care institutions in the state. 

Commissioner Valente joined the Division of Financial Services at DORA in October 2009 as a Field Examiner, then became Supervisory Examiner in 2011, and was appointed as the Deputy Financial Services Commissioner in 2014 before being appointed as Commissioner in 2019. 

Before working for the Department of Regulatory Agencies, he worked in the automobile finance industry for over 10 years with a wide variety of responsibilities. He holds a Bachelor's degree in Biology from Wayne State University in Detroit, Michigan. 


Division of Financial Services Senior Leadership

Mark Valente
State Commissioner of Financial Services

Tuan Nguyen
State Deputy Commissioner of Financial Services


Administrative Personnel

Jessica Fleeks
Supervisory Examiner

Patty Dreiling
Program Assistant

Sally Hernandez
Administrative Assistant

Rebecca Laurie
Stakeholder &Innovations Strategist


Financial Credit Examiners (Credit Unions)

Preston Thompson
Financial Credit Examiner IV

Jennifer Doyle
Financial Credit Examiner III

Rachael Gregoire
Financial Credit Examiner III

Troy Winter
Financial Credit Examiner III

Steven Miller
Financial Credit Examiner III

Linh Pham
Financial Credit Examiner II

Janae Bacca
Financial Credit Examiner I


Financial Credit Examiners (Life Cares & PDPA)

Larry Sisson
Financial Credit Examiner III