Userform Combobox - select from list, store this as default each time userform loads

I have a combobox in a userform, populate the list using "rowsource" in the properties. What I want to do is store the selected value, which will then be the default value when the userform loads again. I am trying this, which I think works, unless someone has a better method? My other small problem is to clear the cells on the form, otherwise I get more than one cell being filled in, as I only one one of the choices to be input on sheet2.

Private Sub cboLocations_Change()
If cboLocations.Value = "466 - CPS" Then
    Sheet2.Range("B16").Formula = "P"
ElseIf cboLocations.Value = "667 - Ninga" Then
    Sheet2.Range("M16").Formula = "P"
    Sheet2.Unprotect ("password")
    Sheet2.Range("AE16").Value = cboLocations.Value
    Sheet2.Protect ("password")
ElseIf cboLocations.Value = "668 - Wadena" Then
    Sheet2.Range("B24").Formula = "P"
End If
End Sub

then in workbook open event I have this...

Private Sub Workbook_Open()
Application.ScreenUpdating = False
Load frmgaugeinput
Sheet2.Unprotect ("password")
frmgaugeinput.cboLocations.Value = Sheet2.Range("AE16").Value
Sheet2.Protect ("password")
frmgaugeinput.Show vbModeless