State Employees Credit Union

Overview / Commentary
813 Saint Michaels Dr
Santa Fe, NM 87505

State Employees Credit Union is headquartered in Santa Fe and is the 6th largest credit union in the state of New Mexico. It is also the 421st largest credit union in the nation. It was established in 1958 and as of September of 2022, it had grown to 166 employees and 52,420 members at 8 locations. State Employees Credit Union's money market rates are 5X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in State Employees Credit Union is open to those who live or work in the New Mexico counties of Bernalillo, Dona Ana, Rio Arriba, Sandoval, Santa Fe, San Miguel, or Valencia. Individuals who are currently employed by or retired from any city, county or state agency in New Mexico also qualify for membership. Also eligible to join are employees of any publishing or printing company located in Santa Fe, Taos, and Rio Arriba Counties. Family members of a current State Employees Credit Union member or a membership-eligible individual also qualify for membership.
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Reviews (2)

Neighborhood credit union

I have been banking with SECU since I was in community college, so approximately 15 years now. I find their website very user friendly. I have several accounts with SECU including savings, holiday savings and a money market account. I have never had a problem making a deposit or withdrawing funds with a physical teller, and opening the accounts were a breeze. I will say that the branch that I visit has just undergone major renovation and I am not happy with the new setup. There is now only one ATM which is frustrating, and often times I am unable to deposit funds into the ATM. Prior to renovation, there were 2 ATM's and I never had an issue depositing funds into the ATM. Overall for a credit union I feel the interest rates could be a little higher, but it is difficult to find a bank with competitive rates and I am happy here so I have not sought to move my money.

Mediocre Credit Union

I've been a member for about 7 years and I'd have to say it's been mostly a mediocre experience. I was never able to setup an online account with them. They kept promising that capability but it never materialized. When I lived in near to the local branch it was fairly easy to do business with them, but now that I've moved out of the area I have to do everything via snail mail. It's slow and frustrating to try to get things done. The rates on my loan were OK, but nothing great considering that I have an excellent credit rating. They recently changed their reporting to a system that better consolidates your accounts and they put all of that on a single statement, so that should help going forward. I would give them a solid 3/5 because some of the people in the branches are good.


Health Grade Components

NCUA #65513
Year Chartered1958
Primary Regulator
Profit Margin
Return on Assets - YTD1.39%
Return on Equity - YTD16.07%
Annual Interest Income$24.2MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$992.2MM$920.3MM
LoansQ3 2022vs Q3 2021$772.5MM$612.3MM
DepositsQ3 2022vs Q3 2021$861.8MM$821.1MM
Equity CapitalQ3 2022vs Q3 2021$84.9MM$87.0MM
Loan Loss AllowanceQ3 2022vs Q3 2021$5.7MM$5.6MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$2.2MM$1.1MM
Real Estate OwnedQ3 2022vs Q3 2021$0$2.00K
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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 cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

State Employees Credit Union Savings Account Rates

0.60%*-$50kKasasa Saver for Cash
OTHER TIERS: 0.30% $50k+
0.60%-$50kKasasa Saver for Cash Back
0.40%--Traditional IRA
0.40%--Roth IRA
0.30%$25-Certificate Builder
0.15%$300-Vacation Club
0.15%$300-Christmas Club
0.15%$300-Member Savings
0.15%$300-Special Savings
0.15%$300-Uniform Gift to Minor Account

State Employees Credit Union Money Market Rates

2.50%*$500k*-Business Money Manager
OTHER TIERS: 0.15% Up to $10k | 1.75% $10k - $50k | 2.00% $50k - $250k | 2.25% $250k - $500k
2.25%*$250k*-Money Manager (MMA)
OTHER TIERS: 0.15% Up to $10k | 1.75% $10k - $50k | 2.00% $50k - $250k

State Employees Credit Union Checking Account Rates

1.10%*-$50kKasasa Cash
OTHER TIERS: 0.30% $50k+

State Employees Credit Union CD Rates

4.00%$1k-15 Month CD
3.10%$1k-60 Month CD
3.00%$1k-48 Month CD
2.90%$1k-36 Month CD
2.75%$1k-24 Month CD
2.50%$500-12 Month CD
2.00%$1k-6 Month CD

State Employees Credit Union Locations
Branch Office1201 Mills AveLas Vegas, NM 87701
Branch Office3521 Montgomery Blvd NEAlbuquerque, NM 87107
Branch Office4920 Promenade BlvdSanta Fe, NM 87507
Branch Office280 Emilio Lopez Rd NWLos Lunas, NM 87031-6818
Branch Office813 Saint Michaels DrSanta Fe, NM 87505-7607
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

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