Safety and Soundness
In this area of our website, you'll find the most current information on the sound financial condition of New Mexico Educators Federal Credit Union.
The first quarter of 2009 was full of events. From bankruptcies of major automakers to signs of stabilization of the domestic financial markets. Be assured that while your Credit Union has kept up-to-date with decisions made at the Federal level aimed to stimulate the economy, we continue to operate in a "business as usual" manner - managing and protecting your assets in a responsible manner.
At New Mexico Educators Federal Credit Union, our financial performance over the past several years and for the first quarter of 2009 was been better than many other banks, thrifts and other credit unions in the communities we serve. We continue to maintain strong safety and soundness measures, and on June 2012, we again received the highest Five-Star Superior rating from BauerFinancial Inc., the nation's most well-known independent rating service for banks and credit unions. BauerFinancial has ranked New Mexico Educators Federal Credit Union as five stars for financial strength and security for 45 consecutive quarters.
As a member-owned, not-for-profit cooperative, New Mexico Educators Federal Credit Union only makes sensible loans to qualified borrowers, and we manage our operations conservatively and responsibility in the best interest of all of our members. That's why we have no need to participate in the rescue legislation recently passed by Congress.
You can also rest assured that your deposits are safe at New Mexico Educators Federal Credit Union - up to a minimum of $250,000 of Federal insurance through the National Credit Union Administration (NCUA), just as the FDIC provides for banks. No member has ever lost a single penny of savings in a Federally insured credit union.
Elsewhere on our website, we continually update you with the reassuring news about credit unions in contrast to the often bleak headlines about banking institutions and investment firms.