Average User Rating:
1 star rating based on 1 review.

New Mexico Educators Credit Union

New Mexico Educators Credit Union Locations

PO Box 8530
Albuquerque, NM 87198
800-347-2838
www.nmefcu.org

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New Mexico Educators Credit Union is headquartered in Albuquerque and is the 2^nd largest credit union in the state of New Mexico. It is also the 151^st largest credit union in the nation. It was established in 1936 and as of December of 2011, it had grown to 311 employees and 133,722 members. New Mexico Educators Credit Union has a 5-star health rating.

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See Rates for: Checking | Savings | Money Market | CD | IRA

New Mexico Educators Credit Union Checking Account Rates

Apy	Min	Max	Product
0.25%	$100k	-	Relationship Personal Checking
0.10%	$25k	-	Power Personal Checking

New Mexico Educators Credit Union Savings Account Rates

Apy	Min	Max	Product
0.35%	-	-	IRA Share
0.35%	-	-	Roth IRA Share
0.35%	-	-	CESA Share
0.30%	-	-	Holiday Club
0.30%	-	-	Vacation Club
0.30%	-	-	Union Vacation
0.15%	$10k	-	Regular Savings
0.05%	$2k	-	Transaction Savings

New Mexico Educators Credit Union Money Market Rates

	Apy	Min	Max	Product
	0.20%	$25k	-	Money Market Account

New Mexico Educators Credit Union CD Rates

Apy	Min	Max	Product
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

Apy	Min	Max	Product
1.60%	$25k	-	60 Month IRA
1.60%	$25k	-	60 Month Roth IRA
1.60%	$25k	-	60 Month CESA
1.20%	$25k	-	48 Month IRA
1.20%	$25k	-	48 Month Roth IRA
1.20%	$25k	-	48 Month CESA
1.00%	$25k	-	36 Month IRA
1.00%	$25k	-	36 Month Roth IRA
1.00%	$25k	-	36 Month CESA
0.85%	$500	-	36 Month Bump Rate IRA
0.85%	$500	-	36 Month Bump Rate Roth IRA
0.85%	$500	-	36 Month Bump Rate CESA
0.50%	$500	-	24 Month IRA
0.50%	$500	-	24 Month Roth IRA
0.50%	$500	-	24 Month CESA
0.45%	$500	-	18 Month Bump Rate IRA
0.45%	$500	-	18 Month Bump Rate Roth IRA
0.45%	$500	-	18 Month Bump Rate CESA
0.35%	$500	-	12 Month IRA
0.35%	$500	-	12 Month Roth IRA
0.35%	$500	-	12 Month CESA
0.20%	$500	-	6 Month IRA
0.20%	$500	-	6 Month Roth IRA
0.20%	$500	-	6 Month CESA
0.15%	$500	-	3 Month IRA
0.15%	$500	-	3 Month Roth IRA
0.15%	$500	-	3 Month CESA

Rates updated: 5/27/2012

Data for Q4 2011

Institution Statistics

NEW MEXICO EDUCATORS
NCUA #	948
BankRate Report	View
Year Chartered	1936
Employees	311
Primary Regulator
Assets and Liabilities
Assets	$1.15 billion
Loans	$670.20 million
Deposits	$1.00 billion
Equity Capital	$114.22 million
Loan Loss Allowance	$5.66 million
Unbacked Noncurrent Loans	$5.18 million
Real Estate Owned	$1.94 million
Historic Data - December 2010
Assets	$1.04 billion
Equity Capital	$102.92 million
Loan Loss Allowance	$8.20 million
Unbacked Noncurrent Loans	$6.98 million
Real Estate Owned	$1.79 million
Profit Margin - Quarterly
Net Interest Margin	5.04%
Return on Assets	1.25%
Return on Equity	12.6%
Interest Income	$40.41 million
Non-Interest Income	$24.39 million

Institution Health

Overall Score:

5 out of 5

Texas Ratio
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, 2011 New Mexico Educators Credit Union had $7.11 million in non-current loans and owned real-estate with $119.87 million in equity and loan loss allowances on hand to cover it. This gives New Mexico Educators Credit Union a Texas Ratio of 5.93% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for New Mexico Educators Credit Union decreased slightly from 7.89% as of December 31, 2010 to 5.93% as of December 31, 2011, resulting in a positive change of 24.78%.This indicates that the balance sheet and financial strength for New Mexico Educators Credit Union has improved slightly in recent periods.
Deposit Growth
In the past year, New Mexico Educators Credit Union has increased its total deposits by $96.44 million, resulting in 10.62% 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
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 $1.15 billion in assets with $119.87 million in equity, resulting in a capitalization level of 10.41%, which is above average.

Big Bank Disguised As A Friendly Credit Union
1 stars

- becca_nm - Saturday, December 3, 2011 - 11:29 AM

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.