Colorado Federal Savings Bank Mute On Possible Sale

The Implode-O-Meter received a tip about Colorado Federal Savings Bank, and emailed President James Hinton to inquire further. Here's the pertinent info:

A former CoFed employee tells us they shut down their wholesale operation, Northwest Funding, a couple months ago, and may now be shutting down their retail net branch operation.

"It is my understanding they have approx. 11 branches left. I know others are shopping to leave there as we speak."

The tipster said they had spoken with a manager, who indicated CoFed "has been Sold and that James Hinton will no longer be the President." Provident seems to be involved in some fashion. "He is saying it is two private investors but then suggested they would have Provident's Pricing. He said they have been very vague."

There has been no response. If you can confirm this information, please contact us. All tips are considered confidential.