About Us

The Power of WE_^®

With over 115,000 member-owners of our not-for-profit cooperative, New Mexico Educators Federal Credit Union is the largest credit union in New Mexico. With that many members actively participating, it's easier for us to provide the financial products and services you need to achieve your dreams.

One of the basic principles of our cooperative is that we provide education and training on financial matters affecting our members. Your Credit Union is committed to educating you, our members, about money matters. We provide no-cost evening workshops, an educational newsletter four times a year, and comprehensive resources on our website. You can rely on us to increase your confidence in financial planning, buying a car or home, and making other informed buying decisions.

When you become a member of New Mexico Educators Federal Credit Union, your family members also can become members. It's one of the many ways the people you know and care about can benefit from the great financial services you're receiving from your Credit Union. As you help spread the word, you further increase "The Power of WE. ®"

Annual Meeting

Annual Reports

Cooperative Principles

History

Press

73rd Anniversary

5-Star Superior Rating

Attend Your Credit Union's Annual Meeting

New Mexico Educators Federal Credit Union will hold its 73rd Annual Meeting, Tuesday, April 14, 2009.  This is your best opportunity to hear about your financial cooperative's performance during 2008 and to ask questions of our management and Board of Directors.  Please join us at the Albuquerque Marriott Uptown Hotel, 2101 Louisiana Blvd., NE (north of I-40 at Louisiana).  The meeting will begin at 6:00 p.m. with light refreshments being served at 5:30 p.m.

The Nominating Committee has submitted the following members for the three vacancies on the Board of Directors:

            1.  Judy Cartmell, 3-year term

            2.  Martin Serna, 3-year term        

            3.  Ralph Wallace, 3-year term

New Mexico Educators Federal Credit Union members may participate in the nomination of candidates for the Board of Directors.  The board members serve without compensation. Parties interested in filing nominations by petition are required to adhere to these pertinent Credit Union bylaws:

1.  Nominees must be members in good standing.

2.  Nominees must submit a petition containing the signatures of no less than 500 Credit Union members.

3.  Each petition must contain the printed name, signature and primary member number of the member endorser.  Endorsers must be at least 18 years of age.  Petition samples can be obtained from Nadine Waslosky at our Administrative Offices, (505) 889-2523.

4.  Each nominee's petition must have a statement of qualifications and biographical data that includes the member's name, account number, and birth date. Nominee must also submit a signed statement stating that he or she is agreeable to nomination and will serve if elected. Noncompliance with these rules may invalidate the petition.

5.   The nominating petition must be addressed c/o Secretary of the Board, 4100 Pan American Fwy N.E., Albuquerque, NM  87107 and received by the close of business on March 5, 2009. 

6.   If no nominations are submitted, the Nominating Committee's selection will be elected by general consent.  No nominations will be taken from the floor unless unforeseen circumstances create a vacancy on the ballot.  In the event a petition is submitted, upon certification, an official ballot listing the names and biographical data of all nominees will be mailed to the membership by March 13, 2009.  

7.   Voting would then be conducted by mail-in and/or electronic ballots and the results determined by plurality.  The Supervisory Committee shall act as tellers of the election.

Annual Reports

Find out about New Mexico Educators Federal Credit Union's financial performance and the volunteers who provide professional oversight to assure that the cooperative remains fiscally safe and sound.

2008

2007

2006

2005

Cooperative Principles

Your Credit Union Follows Seven Cooperative Principles

Credit unions such as New Mexico Educators Federal Credit Union are not-for-profit financial cooperatives, owned and controlled by their members, and operated in a democratic way. So what does that mean to you as a member?

Co-ops are businesses, in many ways like any other business. But a cooperative operates solely for the members' benefit. All credit unions run in accordance with seven basic principles, many of which have been part of the co-op philosophy since their beginnings more than 150 years ago.

Here's what those seven principles mean to you:

1. Open and voluntary membership

You are a member of New Mexico Educators Federal Credit Union because you choose to be a member. Being a member means you are an owner.

Cooperatives are voluntary organizations, open to employees of certain groups - without gender, social, racial, political or religious discrimination - able to use their services and willing to accept the responsibilities of membership.

At New Mexico Educators Federal Credit Union, membership is based on affiliation with a Select Employment Group (SEG). Our largest and founding SEG is Albuquerque Public Schools, followed by the University of New Mexico and Presbyterian Healthcare. Employees of these groups and several hundred others have the option to join the Credit Union. You don't necessarily have to be employed by a SEG to be eligible. For example, if your child attends APS or UNM, you are eligible for membership.

2. Democratic member control

Members ultimately control New Mexico Educators Federal Credit Union. All members have an equal share in ownership, with one vote to each member.

Did you know you can attend the Credit Union's annual meeting and vote for the Board of Directors? By doing so, you're exercising your member-owner control. The meeting is held every spring and notification is sent out with your monthly statement in January. Information about the annual meeting is also available on this website.

3. Member economic participation

Members are the backbone of the co-op. Members like you contribute to and control the capital of the co-op. What is your responsibility as a member-owner? To use your Credit Union's services as much as possible. By doing so, you make the co-op stronger - and able to offer more - for you and other members.

For example, the primary source of operating income for your Credit Union is interest paid on loans. The more members use their Credit Union, the stronger it becomes and the more benefits it can offer you as a member, such as lower interest rates on loans, higher dividends on savings, and annual member rebates.

4. Autonomy and independence

The federal government determines the legislative framework within which New Mexico Educators Federal Credit Union operates. But your Credit Union is an autonomous, self-help organization controlled by its members. People like you who save and borrow here make us independent.

The profile and behavior of our members define the mix of products, services, rates and fees implemented by your Credit Union. Just because something works at another financial institution, doesn't mean it works best for our members.

5. Education, training and information

This principle says that members play their role in the cooperative best when they understand that role and the co-op. That's why New Mexico Educators Federal Credit Union constantly works to alert you to the many products and services it offers and how they can best be used in your daily life.

Regular newsletters, a website rich with financial education information, and periodic direct-mail advertising pieces let you know about the products and services that can help you reach your financial dreams. In addition, we regularly offer free evening seminars for members to increase their knowledge about financial planning, investments, and car buying.

6. Cooperation among cooperatives

Cooperatives serve members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures. This "one for all and all for one" idea is unique among businesses.

For instance, La Montañita Co-op previously operated a credit union for its members, but in 1986 found it could not keep the credit union viable with its membership alone. Merging with New Mexico Educators Federal Credit Union was a mutually beneficial step for both co-ops, with La Monta?ita members receiving vastly improved financial services and your Credit Union broadening its member base.

7. Concern for community

New Mexico Educators Federal Credit Union exists for the benefit of its members and has demonstrated its commitment to improving the community in which we live and serve.

For example, Credit Union employees participate in the annual Making Strides Against Breast Cancer Walk, United Way, local high school career days and other community events.

"We take these seven cooperative principles seriously at New Mexico Educators Federal Credit Union and believe it sets us apart from other financial institutions in helping us serve our members," said Terry Laudick, President/CEO of the Credit Union. "These seven principles pave the way for members to get the full benefit from their Credit Union by allowing them to fully participate in the cooperative."

History

Press

All media inquiries should be directed to New Mexico Educators Federal Credit Union's Marketing Director by e-mail or phone: 889-7755 (800-347-2838 from outside the Albuquerque area).

Over 73 Years of Enriching Lives

With over 115,000 members (the most of any New Mexico credit union) and now with members in health service organizations and several other professions, New Mexico Educators Federal Credit Union has the resources to offer the latest in convenient financial services.

Because of our ongoing investment in banking technology, during the last decade, we became leaders in using technology to bring our members a wide range of low-cost and no-cost financial services. Our website was launched in 1995, along with PC Connection Internet Banking^TM. Your Credit Union was the first New Mexico-based financial institution to offer Internet Banking service.

One of the founders of New Mexico Educators, Maurine Grammer remained an active member until her death at age 100.

Maurine Grammer was a teacher, writer, appraiser of Native American Art and friend to New Mexico pueblo artists. She dedicated her long life to improving the community and the State of New Mexico. Her husband, David Grammer Sr., was a Native American Rights lawyer whose knowledge of the Tiwa, Spanish and Archaic Spanish languages allowed him to work with the pueblos to settle land grant cases and boundary disputes.

In early 1935, Mr. Grammer heard that the U.S. Government had made it possible for many groups to form credit unions. Mrs. Grammer at the time was president of the Albuquerque Classroom Teachers Association and arranged a meeting with Albuquerque High School principal J.R. McCollum in which the three decided to apply for a charter to form a credit union. On February 29, 1936, Albuquerque Public Schools Federal Credit Union (APSFCU) was founded to serve the employees of APS and their immediate families.

In order to help assure the strength and stability of the cooperative, APSFCU began expanding its field of membership in 1968. That same year, the employees of Albuquerque Technical-Vocational Institute (TVI) were welcomed as new members. In 1970, several more groups were qualified for Credit Union membership: educational retirees of APS and TVI, school employees in Los Lunas and Bernalillo, and several private and parochial schools.

Employees of the University of New Mexico and University Hospital were added to the Credit Union's field of membership in 1981. In addition, members of the Albuquerque Teachers Federation and all students in APS and TVI became eligible for membership.

In 1982, the Credit Union's name was changed to New Mexico Educators Federal Credit Union to reflect the vastly expanded number of education-related employees and family members who now comprised the membership.

Back in 1936, the Credit Union operated out of the office of the secretary at Albuquerque High School. Today, New Mexico Educators has 14 offices in Albuquerque, Rio Rancho, Los Lunas, Santa Fe, Taos and Socorro.

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