Our Mission Statement
We are the trusted financial resource for our members, serving them as the financial institution of yesterday with all the convenience, technology and accessibility of today and tomorrow.
The Power of WE®
Celebrating our 76th Anniversary.
With over 133,000 member-owners of our not-for-profit cooperative, New Mexico Educators Federal Credit Union is the largest credit union in New Mexico. With 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, comprehensive resources on our website and many other services. 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. ®"
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."
|Some Highlights of Your Credit Union's History|
|1936||Albuquerque Public Schools Federal Credit Union chartered.|
|1968||Employees of Albuquerque Technical-Vocational Institute (TVI) added to field of membership.|
|1978||University of New Mexico and University Hospital added.|
|1982||Name changed to New Mexico Educators Federal Credit Union.
CU Anytime ATMS introduced.
Credit cards introduced.
|1984||Members of La Montañita Food Co-op added.
Access 24 automated phone service introduced.
|1986||Louisiana Plaza office opened at 7170 Montgomery NE.|
|1988||Uptown office opened at Indian School Road.
Original Campus office opened in UNM Student Union Building.
|1990||Original Ladera office opened on Coors NW.|
|1992||South Valley office opened on Rio Bravo SE.|
|1993||Saturday hours introduced at high traffic branches.|
|1994||University office opened at 1801 Lomas NE.
Rio Rancho Public Schools added to field of membership.
Juan Tabo office opened at 2801 Juan Tabo NE.
Original Rio Rancho office opened on Hwy 528.
|1995||Financial planning and investment services introduced.
Visa® Checking/ATM Card introduced.
New Mexico Tech added to field of membership.
|1996||Taos, Questa and Penasco schools added.
Presbyterian Healthcare Services added.
Original Taos office opened.
Original Socorro office opened.
PC Connection Internet BankingTM introduced.
|1997||North Valley office opened at 6125 Fourth NW.
Rio Rancho office relocated to 1109 Rio Rancho (NM 528).
|1998||Online Bill Payer Service introduced.|
|1999||Ladera office relocated directly across Coors Blvd.|
|2000||Socorro Consolidated Schools added to field of membership.|
|2003||Socorro office relocated to 108 N. California.
New UNM Campus office opened in renovated Student Union Building.
|2005||Montgomery office opened at 7517 Montgomery, replacing Louisiana Plaza office.
Valencia office opened at 320 Main Street in Los Lunas.
Taos office relocated to 630 Paseo del Pueblo Sur.
Member Rewards program initiated - first participation dividends/rebates distributed.
|2006||Community Rewards Program initiated - members receive cash rewards and help direct the Credit Union's annual community donations.
Membership grows over 100,000.
Assets grow over $54 million
|2007||Cottonwood and Enchanted Hills branch offices opened.
Uptown and Juan Tabo branch office extensively remodeled.
Over $600,000 given to our members and our communities, including funds from the Community Rewards Program.
Visa Platinum Rewards Credit Card introduced.
New home equity loan products introduced.
First-Time Auto Buyer Program introduced.
Secure 24/7 online mortgage application option introduced.
Four branch offices certified for bilingual service (English and Spanish).
|2008||First Santa Fe office opened inside La Montanita Co-op.|
|Identity Protection Service introduced as a no-cost benefit to all members.|
|Education Loan introduced.|
|Mobile Banking introduced.|
|2009||Our second Santa Fe Branch was opened.|
|Paseo del Norte Branch opened.|
|Our new South Valley Branch opened.|
|New Checking Products that included a new Money Market Account were introduced.|
|New Remote Services were introduced: Anywhere Deposit, Anywhere Appointment, FinanceWorks.|
|Conducted our first Linea Directa with Univision.|
|New Business Services were introduced.|
Travelers Insurance was introduced.
|Over $1.3M given to our members and our communities, including funds from the Community Rewards Program.|
Membership grows over 119,000.
|2011||Ladera branch office remodeled.|
All media inquiries should be directed to New Mexico Educators Federal Credit Union's SVP, Strategic Marketing and Membership Development by email or phone: 889-7755 (800-347-2838 from outside the Albuquerque area).
Over 76 Years of Enriching Lives
With over 133,000 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 Anywhere Access Internet Banking®. 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 16 offices in Albuquerque, Rio Rancho, Los Lunas, Santa Fe, Taos and Socorro.