Credit Unions In The State Of New Mexico

Organization Overview

Credit Unions In The State Of New Mexico is located in Cuba, NM. The organization was established in 1973. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Credit Unions In The State Of New Mexico employed 6 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of New Mexico is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Credit Unions In The State Of New Mexico generated $705.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $546.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE LOAN AND DEPOSIT PRODUCTS & SERVICES TO MEMBER-OWNERS OF THE ORGANIZATION AT A REASONABLE COST AND WITH A REASONABLE RATE OF RETURN, RESPECTIVELY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION PROVIDED ITS MEMBERS A VARIETY OF BANKING SERVICES INCLUDING LOANS AT RATES BELOW THOSE OFFERED BY TRADITIONAL FINANCIAL INSTITUTIONS.


THE CREDIT UNION RETURNED EARNINGS OF APPROXIMATELY $72,000 TO ITS MEMBERS IN THE FORM OF DIVIDENDS.


THE CREDIT UNION INCREASED THE MEMBERS' EQUITY POSITION BY APPROXIMATELY $159,000.


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Board, Officers & Key Employees

Name (title)Compensation
Rhonda Jacquez
CEO
$76,726
Jack Nelson
President
$0
Martin Herrera
Vice President
$0
Jeanette Linville
Secretary
$0
Val Mccoy
Treasurer
$0
Walter Taylor
Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$612,756
Investment income $33,437
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $705,714

Peer Organizations

Organization NameAssets
One Az Credit Union
Phoenix, AZ
$105,409,190
Ttcu Federal Credit Union
Tulsa, OK
$123,227,030
Credit Union Of Texas
Allen, TX
$114,589,686
Vantage West Credit Union
Tucson, AZ
$106,118,675
First Community Credit Union Of Houston
Houston, TX
$83,936,302
Westerra Credit Union
Denver, CO
$60,087,395
Texas Trust Credit Union
Arlington, TX
$77,667,084
Truwest Credit Union
Tempe, AZ
$64,029,017
Intouch Credit Union
Plano, TX
$47,406,759
Credit Unions Chartered In The State Of Colorado
Broomfield, CO
$57,634,628
Firstmark Credit Union
San Antonio, TX
$50,715,745
True Sky Credit Union
Oklahoma City, OK
$47,281,663

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