State Employees Credit Union is headquartered in Santa Fe and is the 7th largest credit union in the state of New Mexico. It is also the 429th largest credit union in the nation. It was established in 1958 and as of June of 2022, it had grown to 173 employees and 51,007 members at 8 locations. State Employees Credit Union has an A health rating.
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.
See current membership details
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.
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.
|Return on Assets - YTD||1.27%|
|Return on Equity - YTD||14.85%|
|Annual Interest Income||$15.1MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$972.8MM$887.4MM|
|Loans||Q2 2022vs Q2 2021||$681.8MM$591.1MM|
|Deposits||Q2 2022vs Q2 2021||$877.1MM$790.9MM|
|Equity Capital||Q2 2022vs Q2 2021||$82.3MM$83.4MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$5.7MM$5.6MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$1.8MM$1.0MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$0$2.00K|
Rates for State Employees Credit Union are currently being reviewed.
|State Employees Credit Union Locations|
|Branch Office||1201 Mills Ave||Las Vegas, NM 87701|
|Branch Office||3521 Montgomery Blvd NE||Albuquerque, NM 87107|
|Branch Office||4920 Promenade Blvd||Santa Fe, NM 87507|
|Branch Office||280 Emilio Lopez Rd NW||Los Lunas, NM 87031-6818|
|Branch Office||813 Saint Michaels Dr||Santa Fe, NM 87505-7607|
|Branch Office||7851 Enchanted Hills Blvd NE||Rio Rancho, NM 87144-8735|
|Branch Office||811 Saint Michaels Dr||Santa Fe, NM 87505-7641|
|Branch Office||19390 Highway 314||Belen, NM 87002-6377|