First Financial Credit Union (NM)


Overview / Commentary
505-766-5600
4910 Union Way Ne
Albuquerque, NM 87107

First Financial Credit Union (NM) is headquartered in Albuquerque and is the 8th largest credit union in the state of New Mexico. It is also the 488th largest credit union in the nation. It was established in 1937 and as of December of 2023, it had grown to 251 employees and 90,940 members at 16 locations. First Financial Credit Union (NM) has a B health rating.

Field of Membership Restrictions

First Financial Credit Union offers membership to anyone who lives or works anywhere in New Mexico.
See current membership details

Reviews (2)

The Best Credit Union I have Ever Used

Going to this credit union was always a pleasure for me. Their savings accounts require a minimum amount of money that has to stay in the savings account or you get a fee against you. As long as you keep enough money in your savings account, you should have protection (depending on account status) that allows you to be safe from withdrawing too much money like if you spend too much in the grocery store and there isn't enough money in your checking account then the rest of the money will come out of the savings account. That is probably standard elsewhere, but it makes me feel safer if that ever happens to me. The credit union doesn't require you to keep a certain amount of money in your checking account, but depending on how much you spend and how you spend it there are different types of bonuses you can get. A major bonus from keeping money flowing into your account is the interest that builds monthly. I also appreciate that the credit union protects you fully when your card is used outside of where you normally use it. If they see charges that are out of state they will immediately call you and stop your account from getting money taken out of it. Another plus of going to this credit union is the free life insurance they give you. You have the option of having more life insurance which is paid directly out of your checking out. The final thing I enjoy is the IRA options that are given to users. You are allowed to deposit up to $5000 into your IRA, which can possibly be considered a tax deductible depending on how it is handled. All in all First Financial is really great when it comes to their IRAs, checking accounts, and savings accounts.

So-so bank beats big bank

Although this bank is not the very best, it is leaps and bounds beyond my previous big bank. Any problems that I have with my accounts are solved within minutes to hours vs days and weeks with a big bank. However, despite these quick resolutions, problems are quite numerous at this bank. For example, I am frequently questioned by the tellers as to whether or not I have deposited my payroll checks at their bank before. These large amounts always prompt the tellers to enter this routine questioning despite having me as a customer there for several years. I thought one of the benefits of joining a small credit union was more personalized service! Another concern I have with this bank is their backlog and investigation process. Several times I have requested statements from several months ago, or requested specific deposit amounts (e.g., how many checks made up this $2000 deposit and in which amounts?) and they always tell me they will look into. Of course, I never received a call back on these occasions. This bank has their problems but I still would never go back to a big bank!



Health

Health Grade Components

Overall
NCUA #68244
Year Chartered1937
Employees251
Primary Regulator
Profit Margin
Return on Assets - YTD0.6%
Return on Equity - YTD8.9%
Annual Interest Income$39.4MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$877.7MM$861.9MM
LoansQ4 2023vs Q4 2022$663.6MM$663.5MM
DepositsQ4 2023vs Q4 2022$788.1MM$780.4MM
Equity CapitalQ4 2023vs Q4 2022$59.9MM$57.6MM
Loan Loss AllowanceQ4 2023vs Q4 2022$8.2MM$3.1MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$7.7MM$3.9MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates

Rates for First Financial Credit Union (NM) are currently being reviewed.

Locations

Availability



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.