Otero Federal Credit Union

Overview / Commentary
1200 10th St
Alamogordo, NM 88310

Otero Federal Credit Union is headquartered in Alamogordo and is the 10th largest credit union in the state of New Mexico. It is also the 765th largest credit union in the nation. It was established in 1953 and as of September of 2022, it had grown to 95 employees and 36,319 members at 6 locations. Otero Federal Credit Union's CD rates are 56% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship, or attend school in the counties of Chaves, Eddy, Lincoln, and Otero, New Mexico; spouses of persons who died while within the field of membership of this credit union; employees of this credit union; volunteers within the community, members of their immediate families; and organizations of such persons.
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Reviews (3)

OFCU cares.

Otero Federal Credit Union is not just a local bank, but a bank that cares about locals. I have been with them personally myself for over 5 years. I was having issues with identity theft at another bank, but I needed to have at least a Savings account to receive my paychecks. A teller listen to my issues and proceeded to get a member of management to come help me with my issue. Despite having little information that was not compromised, She still worked with me personally to get a Savings AND Checking account. Since then I have been so grateful to Otero Federal Credit Union that I have transferred nearly my entire portfolio to be managed by OFCU. I have also opened a couple of Certificates of Deposits for my kids savings. Otero Federal Credit Union may be the best way to bank in all of New Mexico.

Poor Card Support

I am sorely disappointed with this FCU. I cannot authorize an online transaction greater than $2500 and even then I have to DAILY check and authorize the max amount. I regularly conduct 5k or greater transactions but not with this institution.

I'll still keep this account for bill pay but my main 6- and occasionally 7-figure balance and associated transactions will be handled by a more flexible institution. My frustration is not unreasonable. My previous FCU was delightfully accommodating and responsive.

I did give the customer service three stars because they did what they could do to help, within the unreasonable restrictions imposed by the Board.

Worst Experience Ever

Posted by: |

Worst customer service of any bank I have ever be in. Im currently having to get a lawyer because they shorted me four hundred dollars, and were unable to correct it. I can't use names, but the head boss in Alamogordo told me it wasn't enough money for her to even look into why it went missing. They are a nightmare, stay clear.


Health Grade Components

NCUA #8475
Year Chartered1953
Primary Regulator
Profit Margin
Return on Assets - YTD1.17%
Return on Equity - YTD9.96%
Annual Interest Income$8.5MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$444.7MM$430.8MM
LoansQ3 2022vs Q3 2021$251.6MM$217.8MM
DepositsQ3 2022vs Q3 2021$389.5MM$370.8MM
Equity CapitalQ3 2022vs Q3 2021$52.4MM$56.8MM
Loan Loss AllowanceQ3 2022vs Q3 2021$727.00K$732.00K
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$730.00K$297.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$90.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Otero Federal Credit Union Savings Account Rates

0.10%$25-Regular Savings
0.10%--Share IRA
0.05%--Health Savings Account

Otero Federal Credit Union Money Market Rates

0.35%*$25k*-Money Market
OTHER TIERS: 0.25% $2.5k - $25k

Otero Federal Credit Union CD Rates

2.00%$1k-24 Month Share Certificate
1.80%$1k-36 Month Share Certificate
1.80%$1k-48 Month Share Certificate
1.70%$1k-18 Month Share Certificate
1.50%$1k-60 Month Share Certificate
1.40%$1k-12 Month Share Certificate
0.75%$1k-6 Month Share Certificate
0.55%$1k-30 Month Share Certificate

Otero Federal Credit Union IRA Rates

2.00%$1k-24 Month IRA Certificate
1.80%$1k-36 Month IRA Certificate
1.80%$1k-48 Month IRA Certificate
1.70%$1k-18 Month IRA Certificate
1.50%$1k-60 Month IRA Certificate
1.40%$1k-12 Month IRA Certificate
0.75%$1k-6 Month IRA Certificate
0.55%$1k-30 Month IRA Certificate

Otero Federal Credit Union Locations
Branch Office1200 10th StAlamogordo, NM 88310
Branch OfficePO BOX 1058 Bldg 786Holloman AFB, NM 88330
Branch Office2211 N Main StRoswell, NM 88201-6458
Branch Office1900 S Main StRoswell, NM 88203-1837
Branch Office26086 US Highway 70Ruidoso, NM 88345-6178
Branch Office3300 N White Sands Blvd Unit AAlamogordo, NM 88310

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