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Overview / Commentary
505-983-7328
813 St. Michael's Drive
Santa Fe, NM 87505

State Employees Credit Union is headquartered in Santa Fe and is the 8th largest credit union in the state of New Mexico. It is also the 589th largest credit union in the nation. It was established in 1958 and as of December of 2013, it had grown to 141 employees and 36,870 members. State Employees Credit Union has a A health rating.

Field of Membership Restrictions

Who can join State Employees Credit Union? -Any person who works for or has retired from any state, city, or county agency in New Mexico; -Any employee of companies that do contract work for state, city, or county government, including vendors, road builders, maintenance workers, contractors, etc. who contract with or sell to city, state, or county agencies in New Mexico; -Any person who lives or works in Valencia or San Miguel counties; -Any person who has ever been a member of State Employees Credit Union; -Employees of any publishing or printing company located in Santa Fe, Taos, and Rio Arriba counties (for example, The New Mexican , Outdoor Magazine , The New Mexico Magazine ); -Family members of any of the above groups. - See Details

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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 State Employees Credit Union had $2.52 million in non-current loans and owned real-estate with $41.18 million in equity and loan loss allowances on hand to cover it. This gives State Employees Credit Union a Texas Ratio of 6.11% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for State Employees Credit Union decreased slightly from 6.97% as of December 31, 2012 to 6.11% as of December 31, 2013, resulting in a positive change of 12.36%.This indicates that the balance sheet and financial strength for State Employees Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, State Employees Credit Union has increased its total deposits by $6.46 million, resulting in 2.22% 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 State Employees Credit Union has shown is above average.

Capitalization

GRADE:
A

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. State Employees Credit Union has $363.46 million in assets with $41.18 million in equity, resulting in a capitalization level of 11.33%, which is excellent.

Institution Statistics

Overall
NCUA #65513
Year Chartered1958
Employees141
Primary Regulator
Assets and Liabilities
Assets$363.46 million
Loans$282.20 million
Deposits$297.13 million
Equity Capital$36.67 million
Loan Loss Allowance$4.51 million
Unbacked Noncurrent Loans$2.47 million
Real Estate Owned$46,000
Historic Data - December 2012
Assets$330.07 million
Equity Capital$33.49 million
Loan Loss Allowance$4.44 million
Unbacked Noncurrent Loans$2.47 million
Real Estate Owned$419,000
Profit Margin - Quarterly
Net Interest Margin4.08%
Return on Assets1.16%
Return on Equity11.47%
Interest Income$14.04 million
Rates

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

State Employees Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%$25-Certificate Builder
0.20%$300-Vacation Club
0.20%$300-Christmas Club
0.20%$50-Member Savings
0.20%--Special Savings
0.20%$300-Uniform Gift to Minor Account

State Employees Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$50k-Money Manager

State Employees Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.05%-$35kReward Checking
0.15%--Reward Checking

State Employees Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.41%$1k-60 Month CD
1.21%$1k-48 Month CD
1.00%$1k-36 Month CD
0.90%$1k-24 Month CD
0.55%$500-12 Month CD
0.55%$1k-15 Month CD
0.30%$1k-6 Month CD
0.30%$1k-7 Month CD

State Employees Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.40%--Traditional IRA
0.40%--Roth IRA
Locations


State Employees Credit Union Locations
Branch Office1201 Mills AveLas Vegas, NM 87701
Branch Office3451 Candelaria Rd NEAlbuquerque, NM 87107
Branch Office4920 Promenade BlvdSanta Fe, NM 87507
Branch Office1870 Emilio Lopez Rd NWLos Lunas, NM 87031-6804
Branch Office813 Saint Michaels DrSanta Fe, NM 875057607
Branch Office7851 Enchanted Hills Blvd NERio Rancho, NM 87144-8735
Branch Office811 Saint Michaels DrSanta Fe, NM 87505-7641
Branch Office19390 Highway 314Belen, NM 87002-6377