Credit Union Association Of New Mexico Inc
- Assets
- $4.1m
- Revenue
- $1.7m
- Investments
- $46.1k
- Employees
- 9
- Location
- Albuquerque, NM
- Founding
- 07/1974
- Data as of
- 12/2022
- EIN
- 85-0132671
Organization Overview
Credit Union Association Of New Mexico Inc is located in Albuquerque, NM. The organization was established in 1974. 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 12/2022, Credit Union Association Of New Mexico Inc employed 9 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Credit Union Association Of New Mexico Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Credit Union Association Of New Mexico Inc generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP CREDIT UNIONS ADDRESS MEMBER NEEDS THROUGH SERVICES, PRODUCTS, EDUCATION AND ADVOCACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPLIANCE, MARKETING & CONSULTING SERVICES - CUANM ASSISTS CREDIT UNIONS IN SERVICING THEIR MEMBERS THROUGH THE CREATION OF PARTNERSHIPS WITH COMPANIES THAT PROVIDE SUPERIOR PRODUCTS AND SERVICES AT REASONABLE RATES. CUANM ALSO DEVELOPS STRATEGIES, COMMUNICATIONS AND PRODUCTS TO HELP CREDIT UNIONS BETTER REACH AND SERVE THEIR MEMBERS AND MARKET AREAS.
CUANM HOLDS EDUCATIONAL AND TRAINING EVENTS ON A NATIONAL, REGIONAL AND LOCAL LEVEL. IN ADDITION, TRAINING SCHOOLS AND CERTIFICATION CLASSES ARE HELD REGIONALLY AS WELL AS AT INDIVIDUAL CREDIT UNIONS. SOME OF THESE CLASSES ARE CONDUCTED ELECTRONICALLY AS WEBINARS. FEES ARE CHARGED FOR ATTENDANCE; HOWEVER, SOME EVENTS ARE AT NO COST, OTHERS HAVE SCHOLARSHIP OPPORTUNITIES TO ALLOW SMALL CREDIT UNIONS TO ATTEND WITHOUT COST.
CUANM PROVIDES ADVOCACY SERVICES - LEGISLATIVE AFFAIRS WORKS WITH STATE AND FEDERAL ELECTED OFFICIALS, AND REGULATORY AFFAIRS WORKS WITH STATE AND FEDERAL REGULATORY AGENCIES TO EDUCATE AND ADVOCATE ON ISSUES THAT AFFECT CREDIT UNION OPERATIONS AND TO ENSURE THAT CREDIT UNIONS' HAVE AN ENVIRONMENT THAT ALLOWS THEM TO OFFER PRODUCTS AND SERVICES TO MEET THE NEEDS OF THEIR CREDIT UNIONS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Griffo Board Chair | Trustee | 2 | $0 |
Judy Carrasco Board Vice Chair | Trustee | 2 | $0 |
Ron Moorehead Board Secretary/treasurer | Trustee | 2 | $0 |
Andy Ramos Board Member | Trustee | 1 | $0 |
Winona Nava Board Member | Trustee | 1 | $0 |
Matt Schmidt Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Credit Union National Association Inc National Trade Association Dues And Educ | 12/30/18 | $257,008 |
Mgm Resorts International Educational Conference Costs For The Cre | 12/30/18 | $172,374 |
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 | $1,441,295 |
| Investment income | $11,201 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,881 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $73,968 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,685,039 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $535 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $439,850 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $142,861 |
| Pension plan accruals and contributions | $28,752 |
| Other employee benefits | $48,857 |
| Payroll taxes | $46,113 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,173 |
| Fees for services: Accounting | $24,220 |
| Fees for services: Lobbying | $13,092 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $140,346 |
| Advertising and promotion | $0 |
| Office expenses | $62,561 |
| Information technology | $4,912 |
| Royalties | $0 |
| Occupancy | $28,792 |
| Travel | $68,235 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $150,062 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,104 |
| Insurance | $26,210 |
| All other expenses | $12,423 |
| Total functional expenses | $1,594,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,699,145 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $226,643 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $58,613 |
| Prepaid expenses and deferred charges | $69,833 |
| Net Land, buildings, and equipment | $763,157 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $46,110 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $193,346 |
| Total assets | $4,056,847 |
| Accounts payable and accrued expenses | $112,541 |
| Grants payable | $0 |
| Deferred revenue | $12,863 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,860 |
| Total liabilities | $127,264 |
| Net assets without donor restrictions | $3,929,583 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,056,847 |