Credit Unions In The State Of New Mexico is located in Alamogordo, 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 18 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 $3.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $3.5m during the year ending 12/2021. While expenses have increased by 8.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING DEPOSIT & LOAN PRODUCTS & SERVICES TO MEMBERS OF THE ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED MEMBERS A VARIETY OF BANKING SERVICES INCLUDING LOANS AT COMPETETIVE RATES
THE CREDIT UNION RETURNED EARNINGS OF CLOSE TO $365,000 TO ITS MEMBERS IN THE FORM OF DIVIDENDS
THE CREDIT UNION INCRESED ITS MEMBER EQUITY POSITION BY APPROXIMATELY $996,000 DURING 2020
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Pam Vega Ceo/treasurer | Officer | 40 | $122,776 |
Louanne Garcia CFO | Officer | 40 | $91,353 |
Mary Goldsmith Chair | OfficerTrustee | 2 | $0 |
Charles Montjoy Vice Chair | OfficerTrustee | 2 | $0 |
Susan Kent Secretary | OfficerTrustee | 2 | $0 |
David Johnson Member | Trustee | 2 | $0 |
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 | $2,615,347 |
Investment income | $313,333 |
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 | $3,847,469 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $214,129 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $682,756 |
Pension plan accruals and contributions | $240,000 |
Other employee benefits | $105,956 |
Payroll taxes | $69,190 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $32,676 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $38,583 |
Advertising and promotion | $67,769 |
Office expenses | $150,985 |
Information technology | $363,423 |
Royalties | $0 |
Occupancy | $92,636 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $229,206 |
Insurance | $46,908 |
All other expenses | $199,325 |
Total functional expenses | $3,542,676 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,389,482 |
Savings and temporary cash investments | $35,527,859 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $100,172 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $25,510,065 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $811,545 |
Net Land, buildings, and equipment | $1,893,240 |
Investments—publicly traded securities | $0 |
Investments—other securities | $1,516,766 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $181,199 |
Total assets | $66,930,328 |
Accounts payable and accrued expenses | $662,264 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $57,099,977 |
Total liabilities | $57,762,241 |
Net assets without donor restrictions | $0 |
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 | $9,168,087 |
Total liabilities and net assets/fund balances | $66,930,328 |
Organization Name | Assets | Revenue |
---|---|---|
Sooper Credit Union Arvada, CO | $541,418,878 | $25,522,076 |
Partner Colorado Credit Union Arvada, CO | $575,170,940 | $26,663,634 |
Coastlife Credit Union Corpus Christi, TX | $459,349,679 | $21,652,843 |
Red Rocks Credit Union Littleton, CO | $358,530,092 | $14,106,899 |
Mct Credit Union Port Neches, TX | $363,107,409 | $15,984,837 |
Americas Credit Union Garland, TX | $409,491,001 | $16,218,007 |
Credit Unions Chartered In The State Of Utah Salt Lake City, UT | $951,799,319 | $26,688,860 |
First Basin Credit Union Odessa, TX | $306,636,605 | $15,708,343 |
Allegiance Credit Union Oklahoma City, OK | $376,025,043 | $16,187,363 |
Texoma Community Credit Union Wichita Falls, TX | $259,230,472 | $16,333,220 |
Oklahoma Educators Credit Union Oklahoma City, OK | $242,039,953 | $16,355,869 |
Aventa Credit Union Colorado Springs, CO | $264,169,507 | $14,432,586 |