State Employees CU (New Mexico) Has 2 Amazing Top Rate CDs


State Employees Credit Union (New Mexico) has raised the rates on its 7-month CD (3.00% APY) and 15-month CD (1.50% APY). Both CDs are available as IRAs (Traditional and Roth) at the same rates, with the same funding requirements.

The 7-month CD requires a minimum opening deposit of $1K, with a $20K maximum balance cap. New money is needed to open the 7-month CD and there is either a Rewards or Kasasa Checking account relationship requirement. The Early Withdrawal Penalty is 90 days interest.

The 15-month CD has the same requirements as the 7-month CD with two exceptions: there is no balance cap, and the 15-month CD is only available from December 1, 2014 through January 31, 2015.

5.00%$1k-State Employees Credit Union7 Month CD
Rates as of April 16, 2024.


While the name, "State Employees Credit Union," suggests a field of membership (FOM) limited to individuals who are employed by a New Mexico state agency, the actual FOM is much wider. If you meet any of the following requirements, you are eligible for membership in the State Employees Credit Union (SECU):

1) Any person who works for or has retired from any state, city, or county agency in New Mexico,

2) Any employee of companies that do contract work for state, city, or county government, including vendors, road builders, maintenance workers, contractors, etc. who contract with or sell to city, state, or county agencies in New Mexico,

3) Any person who lives or works in Valencia or San Miguel counties,

4) Any person who has ever been a member of State Employees Credit Union,

5) Employees of any publishing or printing company located in Santa Fe, Taos, and Rio Arriba counties (for example, The New Mexican, Outdoor Magazine, and The New Mexico Magazine),

6) Family members of any of the above groups.

Joining SECU can be done online, with the initial step of opening a Member Savings Account (minimum opening balance of $50). (The actual online application is time sensitive, so I have not provided a direct link.)

While SECU has an online option for opening CDs, the 7-month and 15-month CDs are currently not listed. According to CSR, opening either the 7-month or 15-month CD requires an in person visit to any of seven New Mexico branches located in Albuquerque, Belen, Las Vegas, Los Lunas, Rio Rancho, and Santa Fe (2).

Credit Union Overview

State Employees Credit Union has an overall health grade of "A+" at, with a Texas ratio of 4.15% (excellent) based on June 30, 2014 data. In the past year, SECU has increased its total deposits by $15.34 Million, an excellent annual growth rate of 5.11%. Please refer to our financial overview of State Employees Credit Union for more details.

56 years ago, two people in a very small office opened the first State Employees Credit Union branch (NCUA Charter # 65513), in hopes of better serving the employees of the State of New Mexico. SECU has grown, in both size and scope, to become the 8th largest credit union in New Mexico, with over 38,000 members and assets in excess of $386 Million.

How the CDs Compare

When compared to other similar length-of-term CDs tracked by, that require a similar minimum deposit and available to residents of New Mexico, State Employees Credit Union's 7-month CD and 15-month CD are, to quote CSR, "pretty awesome."

The above rates are accurate as of 12/3/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

Related Pages: State Employees Credit Union, Albuquerque, CD rates

  |     |   Comment #1
I'm considering a move to New Mexico right now!!
Interested Party
  |     |   Comment #2
If you can visit the state, I'm sure you can sign up for this account right now without having an actual physical residence.
  |     |   Comment #4
We would love to have you as a member. Come for the rates and fall in love the green chile and art. 
  |     |   Comment #3
Hey Ken, thank you for the great article. This really is an amazing opportunity. We also have a variety of deposit accounts that each come with their on unique monthly rewards like high interest rates and atm fee refunds. Thanks again Ken.
  |     |   Comment #5
Can the CD's be opened on line?
4.05% Reward Checking Account at a New Mexico CU (State Employees)
Update 12/03/09: The yield has gone done to 4.05% APY. See bottom of the post for the rate history.

State Employees Credit Union has started a reward checking account that pays 4.05% APY on balances up to $35,000 (1.25% for above) and refunds ATM fees if the following monthly requirements are met: 1) 10 debit card purchase transactions, 2) one direct deposit or electronic withdrawal, 3) receive statement electronically, and 4) use online banking. If these are not met, the rate falls to 0.15%. There are no monthly service charges or...

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5.35% 15-Month / 5.25% 7-Month CD at a New Mexico CU (State Employees).
Update 12/29/07: These special CD rates have fallen. Please see the credit union's website for latest rates.

State Employees Credit Union continues to offer its special 7 and 15-month share certificates. Rates have gone down since my October post, but they're still competitive. The current top yields are 5.35% APY for the 15-month term and 5.25% APY for the 7-month term. This requires checking and direct deposit. With only checking or direct deposit, the yield is lower by 20 basis points, and without either the yield is 5.00% APY for both...

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5.60% 15-Month / 5.45% 7-Month CD at a New Mexico CU (State Employees)
State Employees Credit Union is offering a special 5.60% APY 15-month and a 5.45% APY 7-month share certificate. These rates require checking and direct deposit. Without checking or direct deposit, the yield is lower by 20 basis points, and without either the yield is another 15 basis points lower. The minimum deposit is $1,000.

Membership is open to anyone who lives or works in Valencia or San Miguel County, and any person who works for or has retired from any state, city or county agency in New Mexico. For the full...

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