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 473rd largest credit union in the nation. It was established in 1958 and as of June of 2020, it had grown to 150 employees and 48,090 members at 8 locations. State Employees Credit Union 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.
See current membership details
Related Posts
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.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 65513 |
| Year Chartered | 1958 |
| Employees | 150 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.17% |
| Return on Equity - YTD | 10.93% |
| Annual Interest Income | $12.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $736.0MM$601.3MM |
| Loans | Q2 2020vs Q2 2019 | $537.3MM$516.4MM |
| Deposits | Q2 2020vs Q2 2019 | $650.7MM$525.5MM |
| Equity Capital | Q2 2020vs Q2 2019 | $75.3MM$66.5MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $4.4MM$4.3MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $1.5MM$1.5MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $3.00K$72.00K |