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505-889-7755
P.O. Box 8530
Albuquerque, NM 87198

New Mexico Educators Credit Union is headquartered in ALBUQUERQUE and is the 2nd largest credit union in the state of New Mexico. It is also the 128th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 330 employees and 140,240 members. New Mexico Educators Credit Union has a A health rating.

Field of Membership Restrictions

Anyone who lives, works, worships or attends school in Socorro, Taos or Valencia counties can join. Membership is also open to employees of various firms; students of various schools; and members of and volunteers for various organization that are in various parts of New Mexico. See our website for full details. - See Details

Reviews (1)

Big Bank Disguised As A Friendly Credit Union

Bank puts layers of employees between customers and decision making managers. Specific issues with NMEFCU over one year of banking:

- Charged overdraft fees twice when account was not overdrawn. Bank refused to reverse charges.

- Fradulent charges on Visa debit card - Bank refunded one charge but not a second identical charge. Card services manager makes decisions based on her opinion rather than Visa or bank policies. 

- Another customer's deposits of $4,000 was put in my checking and saving accounts. For some reason I stuck on the phone with the bank and on hold for 45 minutes trying to resolve the issue and convince them it was someone else's money.

- Branch and service managers have poor and even rude customer service attitudes. I've felt humiliated and degraded repeatedly when working with NM Educators Federal Credit Union.

In summary: I was very excited to swtich from a big bank to a local credit union. However, I don't feel like I have a voice with the bank or my money is safe. Oddly enough, I felt safer with the big bank. Am switching to US New Mexico Federal Credit Union - my friends are giving it good reviews. 



Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 New Mexico Educators Credit Union had $7.91 million in non-current loans and owned real-estate with $154.83 million in equity and loan loss allowances on hand to cover it. This gives New Mexico Educators Credit Union a Texas Ratio of 5.11% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for New Mexico Educators Credit Union experienced no significant changes from 5.04% as of December 31, 2012 to 5.11% as of December 31, 2013, resulting in a negative change of 1.35%. This indicates that the balance sheet and financial strength for New Mexico Educators Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, New Mexico Educators Credit Union has increased its total deposits by $127.7 million, resulting in 11.42% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth New Mexico Educators Credit Union has shown is excellent.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. New Mexico Educators Credit Union has $1.43 billion in assets with $154.83 million in equity, resulting in a capitalization level of 10.86%, which is above average.

Institution Statistics

Overall
NCUA #948
Year Chartered1936
Employees330
Primary Regulator
Assets and Liabilities
Assets$1.43 billion
Loans$919.23 million
Deposits$1.25 billion
Equity Capital$149.13 million
Loan Loss Allowance$5.69 million
Unbacked Noncurrent Loans$6.25 million
Real Estate Owned$1.66 million
Historic Data - December 2012
Assets$1.27 billion
Equity Capital$128.54 million
Loan Loss Allowance$5.12 million
Unbacked Noncurrent Loans$6.25 million
Real Estate Owned$1.82 million
Profit Margin - Quarterly
Net Interest Margin3.74%
Return on Assets0.84%
Return on Equity8.03%
Interest Income$43.01 million
Rates

Always verify rates and promotions with the bank or credit union. We are not New Mexico Educators Credit Union, we are a rate comparison website and can not provide official rates or promotions.

New Mexico Educators Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%--IRA Share
0.35%--Roth IRA Share
0.35%--CESA Share
0.30%--Holiday Club
0.30%--Vacation Club
0.15%$10k-Regular Savings
0.05%$2k-Transaction Savings

New Mexico Educators Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$25k-Money Market Account

New Mexico Educators Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$100k-Dividend Checking

New Mexico Educators Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.60%$25k-60 Month Share Certificate
1.20%$25k-48 Month Share Certificate
1.00%$25k-36 Month Share Certificate
0.85%$1k-36 Month Bump Rate Share Certificate
0.50%$1k-24 Month Share Certificate
0.45%$1k-18 Month Bump Rate Share Certificate
0.35%$1k-12 Month Share Certificate
0.20%$1k-6 Month Share Certificate
0.15%$1k-3 Month Share Certificate

New Mexico Educators Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.60%$25k-60 Month IRA (Traditional,Roth,CESA)
1.20%$25k-48 Month IRA (Traditional,Roth,CESA)
1.00%$25k-36 Month IRA (Traditional,Roth,CESA)
0.85%$500-36 Month Bump Rate IRA (Traditional,Roth,CESA)
0.50%$500-24 Month IRA (Traditional,Roth,CESA)
0.45%$500-18 Month Bump Rate IRA (Traditional,Roth,CESA)
0.35%$500-12 Month IRA (Traditional,Roth,CESA)
0.20%$500-6 Month IRA (Traditional,Roth,CESA)
0.15%$500-3 Month IRA (Traditional,Roth,CESA)
Locations

New Mexico Educators Credit Union has 17 locations. Click to view all New Mexico Educators Credit Union locations.