Member Rewards FAQs

Member Rewards is just one of the ways your Credit Union rewards members who have actively participated in New Mexico Educators Federal Credit Union’s savings, deposit and loan products during the previous year.  The more you economically participate, the greater your reward.

Check out the Member Rewards calculator to see how much you can earn.

Please note that Member Rewards are completely separate from the Community Rewards Program, which you can take advantage of through the use of your Visa® Debit Card.  Member Rewards is paid out in addition to any Community Rewards payout.

Interest rates, for both savings and loans, are in part driven by fair market value. As a member owned cooperative, New Mexico Educators FCU also considers the income received from the interest on loans, the expenses and reserves necessary to offer future stability for your Credit Union and the fair market interest rates that can be offered back to you on deposit accounts. Member Rewards is an additional benefit that is offered to members who choose to make their Credit Union stronger through financial participation. Is there an age limit to earn Member Rewards? No, there is not an age limit. However, eligibility is dependent upon the average loan and deposit balances within specific age groups. You must also have a $100 average deposit account balance and be a member in good standing on the deposit date in January to receive your Member Rewards.

• Ages 26 and over: Must maintain an average loan and deposit balance of $5,000
• Ages 18-25: Must maintain an average loan and deposit balance of $1,000
• Ages 0-17: Must maintain an average deposit balance of $100

Different groups participate in different economic ways. New Mexico Educators FCU wanted to take into account that a younger person would contribute at a lower level. Encouraging younger members to economically participate will give them a solid start on their financial future.