©2024 The Colorado Bankers Association is proud to present Colorado Banker as a benefit of membership in the association. No member dues were used in the publishing of this news magazine. All publishing costs were borne by advertising sales. Purchase of any products or services from paid advertisements within this magazine are the sole responsibility of the consumer. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of Colorado Banker or its publisher, The newsLINK Group LLC. Any legal advice should be regarded as general information. It is strongly recommended that one contact an attorney for counsel regarding specific circumstances. Likewise, the appearance of advertisers does not constitute an endorsement of the products or services featured by The newsLINK Group LLC. Jenifer Waller President & CEO Alison Morgan Director of State Government Relations Brandon Knudtson CFO & Director of Membership Lindsay Muniz Director of Education Megan Carruth Executive Assistant Margie Mellenbruch Bookkeeper* Melanie Layton Lobbyist* Garin Vorthmann Lobbyist* Andrew Wood Lobbyist* Caroline Woodhouse Lobbyist* *Outsourced 140 E. 19th Ave., Ste. 400 Denver, Colorado 80203 Office: (303) 825-1575 coloradobankers.org colorado-banker.thenewslinkgroup.org BUILDING BETTER BANKS — Helping Coloradans Realize Dreams 10 21 3 CHAIRMAN’S MESSAGE The Banking Industry Under Siege Credit Unions’ Unchecked Expansion By Kevin Erickson, Chairman, CBA 4 WASHINGTON UPDATE Defend the Dual Banking System By Rob Nichols, President & CEO, ABA 6 1071 Data Collection Tips and Tricks By Paula S. King, CPA, Abrigo 10 The Not‑So-Simple Changes to SIMPLE IRAs By Carrie Horn, CISP, CHSP, QPA, TGPC, SDIP, ERISA Consultant, Ascensus 12 CBA Centerpoint Going Beyond the Desk to Hear the Stories of Colorado Bankers 14 Generational Trends Shaping Growth Goals Is Modernizing Your Legacy Systems Part of the 2025 Strategic Plan? By ADVANTAGE 16 How SBA Lending Fits Into the Future of Banking 18 IN MEMORIAM Donald Lawrence Sturm (1932-2024) 21 Looking at the Big Picture Fair Lending Concerns on Valuations By Jessica D. Lamoreux, JD, Associate General Counsel, Compliance Alliance 2024-2025 Issue 3 Colorado Banker 2
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