Canvas Credit Union Builds on Statewide Growth Through Expanded Community Partnerships

ENGLEWOOD, CO, August 18, 2026 (EZ Newswire) -- Founded in 1938 to serve employees of Public Service Company of Colorado (now part of Xcel Energy), Canvas Credit Union has grown to over $5 billion in assets with nearly 330,000 members and 725 employees. It now ranks as the third-largest credit union in Colorado and among the top 75 credit unions nationwide by asset size.

“We started with a shoebox and some cash and grew from there,” Chad Shane said, president and CEO of Canvas Credit Union. “We started by serving the underserved — people that banks often won’t serve — and that continues to this day. At Canvas, we want everyone to have access to quality banking.”

As a not-for-profit financial cooperative, Canvas offers the same products as banks but without being beholden to shareholders.

“Instead of sitting in meetings discussing returns to shareholders, our board and staff are focused on how best to serve our members and run the organization efficiently,” Shane added.

The Power of Working Together

Much of Canvas’ long-term success can be attributed to relationships with both members and business partners. For members, Canvas provides a broad range of products and services, from mortgages and auto loans — where it ranks among Colorado’s top auto lenders — to commercial lending, a relatively uncommon offering for credit unions. It also emphasizes accessible, in-person service.

“With 35 branches statewide, our members are assured they can walk in and talk to a human any time they’d like,” Shane said.

Schools are among Canvas’ most important community partners. Beyond supporting financial education in middle schools, high schools, and universities, Canvas aims to be a true partner to local institutions — not just in name, but in impact.

“At Colorado State University, our name is on the football stadium, but we also partner with students on case studies and help NIL student athletes with financial education,” Shane said.

Canvas recently established its first professional sports partnership with Denver Summit FC, a Denver-based women’s soccer team.

“Athletics are very important to the Colorado community, and we’re all about the community,” Shane said.

Beyond sports, Canvas supports first responder heroes including police officers, firefighters, and active and retired military.

“We help create awareness of what they do for the community,” Shane said. “We also financially support them whenever needed, especially families of fallen first responders.”

Community Support Pays Dividends

With nearly 330,000 members, Canvas leverages the strength of its deposits to support lending that helps drive local economic growth. And while the organization continues to invest in technology and compliance, it recognizes that community impact begins with its employees.

“We are all about people and culture,” Shane said. “If we take good care of employees, they take care of our members. Employees are not just numbers to us.”

Shane, who has been with the organization for almost 15 years, worked his way up from vice president of lending to chief lending officer before becoming CEO in 2024. The trajectory helped him understand the importance of managing relationships for the success of the organization.

“I’m a big believer in teamwork, collaboration, and doing things for the greater good,” Shane concluded. “I’m driven to help us be the best financial institution we can be.”

About Canvas Credit Union

Canvas Credit Union is a member-owned, not-for-profit financial cooperative with over $5 billion in assets serving more than 330,000 members. Canvas provides a full array of financial products and services, including savings, checking, loans, mortgages, and online and mobile banking options. Serving Colorado communities for more than 87 years, Canvas currently has 35 branches and is well recognized for its people, its heart, and its commitment to community. For more information, visit canvas.org.

Media Contact

canvas@dovetailsolutions.com