Civic Intelligence

Credit Unions in the State of New Mexico

990 • Fiscal year 2013 • EIN 85-0161080

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 17, 2014

Organization ProfileWWW.FINSECCU.COM

View Organization Page

1105 West Pierce88220

(575) 887-6030

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

54th percentile

0.89x

Higher debt load relative to assets than 54% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Liabilities / Revenue

20th percentile

15.00x

Higher debt load relative to revenue than 20% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Net Margin

96th percentile

26%

Higher net margin than 96% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Asset Growth

95th percentile

11%

Faster asset growth than 95% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$34,003,673

Up $3,291,786 (+11%) from 2012

Net Assets

Up

$3,853,330

Up $513,419 (+15%) from 2012

Liabilities

Up

$30,150,343

Up $2,778,367 (+10%) from 2012

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin96th percentile

Revenue

$2,009,870

No earlier filing loaded for comparison.

Expenses

Up

$1,496,451

Up $125,310 (+9.1%) from 2012

Net Income

$513,419

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $28,603,683Liabilities 2011: $25,723,241Net Assets 2011: $2,880,4422011Assets 2012: $30,711,887Liabilities 2012: $27,371,976Net Assets 2012: $3,339,9112012Assets 2013: $34,003,673Liabilities 2013: $30,150,343Net Assets 2013: $3,853,3302013Assets 2014: $39,523,844Liabilities 2014: $35,320,243Net Assets 2014: $4,203,6012014Assets 2015: $42,112,976Liabilities 2015: $37,461,491Net Assets 2015: $4,651,4852015Assets 2016: $41,054,411Liabilities 2016: $36,212,544Net Assets 2016: $4,841,8672016Assets 2017: $43,633,208Liabilities 2017: $38,534,960Net Assets 2017: $5,098,2482017Assets 2018: $46,605,632Liabilities 2018: $41,152,411Net Assets 2018: $5,453,2212018Assets 2019: $48,266,899Liabilities 2019: $42,319,364Net Assets 2019: $5,947,5352019Assets 2020: $53,205,701Liabilities 2020: $47,021,316Net Assets 2020: $6,184,3852020Assets 2021: $55,978,482Liabilities 2021: $49,567,239Net Assets 2021: $6,411,2432021Assets 2022: $59,542,140Liabilities 2022: $52,524,428Net Assets 2022: $7,017,7122022Assets 2023: $59,797,422Liabilities 2023: $51,832,777Net Assets 2023: $7,964,6452023Assets 2024: $58,141,403Liabilities 2024: $48,828,067Net Assets 2024: $9,313,3362024

Highlighted filing

2013

Assets$34,003,673
Liabilities$30,150,343
Net Assets$3,853,330
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0Expenses 2011: $1,322,3492011Expenses 2012: $1,371,1412012Revenue 2013: $2,009,870Expenses 2013: $1,496,451Net Income 2013: $513,4192013Revenue 2014: $2,169,504Expenses 2014: $1,819,233Net Income 2014: $350,2712014Revenue 2015: $2,375,294Expenses 2015: $1,927,410Net Income 2015: $447,8842015Revenue 2016: $2,418,738Expenses 2016: $2,216,123Net Income 2016: $202,6152016Revenue 2017: $2,326,938Expenses 2017: $2,070,557Net Income 2017: $256,3812017Revenue 2018: $2,562,690Expenses 2018: $2,207,717Net Income 2018: $354,9732018Revenue 2019: $2,889,372Expenses 2019: $2,632,733Net Income 2019: $256,6392019Revenue 2020: $2,794,228Expenses 2020: $2,634,981Net Income 2020: $159,2472020Revenue 2021: $2,745,222Expenses 2021: $2,674,936Net Income 2021: $70,2862021Revenue 2022: $3,190,623Expenses 2022: $2,584,154Net Income 2022: $606,4692022Revenue 2023: $3,728,717Expenses 2023: $2,841,172Net Income 2023: $887,5452023Revenue 2024: $4,273,885Expenses 2024: $3,332,159Net Income 2024: $941,7262024

Highlighted filing

2013

Revenue$2,009,870
Expenses$1,496,451
Net Income$513,419
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 17, 2014
Return Version
2013v3.0
Gross Receipts
$2,009,870
Mission and Program Overview

Mission

SEE PART I, NUMBER 1

The credit union strives to offer the best possible dividends on shares, loans at reasonable rates, a product mix to meet the needs of our members and to provide efficient and friendly service to those who are in our common bond. The credit union seeks to maintain its long-term financial stability, while protecting the assets of the members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$21,879,412$23,686,512▲ $1,807,100
Savings and Temporary Cash Investments$6,347,649$7,781,571▲ $1,433,922
Rtn Earn Endowment Incm Other Fnds$3,339,911$3,853,330▲ $513,419
Land, Buildings, and Equipment, Net$1,747,897$1,781,702▲ $33,805
Cash and Non-Interest-Bearing Accounts$320,886$331,379▲ $10,493
Prepaid Expenses and Deferred Charges$19,131--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$30,711,887$34,003,673▲ $3,291,786
Other Assets Total$396,912$422,509▲ $25,597
Liabilities
Other Liabilities$27,236,830$29,979,252▲ $2,742,422
Accounts Payable and Accrued Expenses$135,146$171,091▲ $35,945
Total Liabilities$27,371,976$30,150,343▲ $2,778,367
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,339,911$3,853,330▲ $513,419
Total Liabilities and Net Assets / Fund Balance$30,711,887$34,003,673▲ $3,291,786

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,147,588$178,956-
Other Land Buildings$4,786--
Land$529,668--
Equipment$99,660$301,860-
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Jane LynnChairperson
Misti FernandezVice Chairperson
Jason CrockettMember
Jeff NeatherlinSecretary
Kay TigertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,888,886
Investment Income
$25,118
Other Revenue
$95,866
Change in Net Assets
$513,419
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$856,102
Salaries, Compensation, and Employee Benefits$640,349
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$282,742
Current Officers, Directors, Trustees, and Key Employees---$218,830
Interest---$157,631
Office Expenses---$83,152
Depreciation Depletion---$78,665
All Other Expenses---$70,350
Other Employee Benefits---$57,319
Advertising---$54,429
Information Technology---$52,222
Payroll Taxes---$44,758
Occupancy---$38,085
Pension Plan Contributions---$36,700
Other Expenses---$27,024
Insurance---$26,917
Fees for Services Accounting---$8,897
Travel---$8,152
Fees for Services Management---$5,706
Fees for Services Other---$5,061
Total Functional Expenses$0$0$0$1,496,451
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Share & Deposit Accounts$29,572,284
Regular Reserves$406,968
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization has members who purchase ownership interests by opening primary share deposit accounts with the credit union.”

Form 990, Part VI, Section A, Line 7A

“The member-owners vote to elect or replace members of the board of directors.”

Form 990, Part VI, Section A, Line 8B

“The governing body does not delegate authority to any committees to act on the board's behalf.”

Form 990, Part VI, Section B, Line 11

“The president/ceo provides a copy of the form 990 to the board at a monthly meeting.”

Form 990, Part VI, Section B, Line 12C

“Board members and key employyes must sign conflict of interest statements annually. Compliance with the policy is consistently monitored and enforced by the respective parties.”

Form 990, Part VI, Section B, Line 15

“The board of directors reviews the ceo's performance annually and determines the salary for the next fiscal period accordingly. The ceo reviews the performance of key employees and uses market-based salary comparisons to determine pay increases for these individuals.”

Form 990, Part VI, Section C, Line 19

“The credit union makes its governing documents,conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
85-0161080
Phone
5758876030

Signing Officer

Name
Judy Carrasco
Title
President/CEO
Phone
5758876030
Signed
2014-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Judy Carrasco
Formed
1954
Legal Domicile
Nm
Voting Board Members
5
Independent Board Members
5
Employees
13
Volunteers
0

Preparer

Preparer
G Pete Parks
Phone
8708623401
Raw XML Appendix331 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivityOrMissionDesc0THE CREDIT UNION STRIVES TO OFFER THE BEST POSSIBLE DIVIDENDS ON SHARES, LOANS AT REASONABLE RATES, A PRODUCT MIX TO MEET THE NEEDS OF OUR MEMBERS AND TO PROVIDE EFFICIENT AND FRIENDLY SERVICE TO THOSE WHO ARE IN OUR COMMON BOND. THE CREDIT UNION SEEKS TO MAINTAIN ITS LONG-TERM FINANCIAL STABILITY, WHILE PROTECTING THE ASSETS OF THE MEMBERS.
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IRS990/Form990PartVIISectionAGrp/PersonNm4JEFF NEATHERLIN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRPERSON
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IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
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IRS990/GrantsToOrganizationsInd00
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IRS990/GroupReturnForAffiliatesInd00
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IRS990/IRPDocumentCnt0631
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IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
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IRS990/NondeductibleContributionsInd00
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IRS990/OperateHospitalInd00
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PoliticalCampaignActyInd00
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION RETURNED EARNINGS OF APPROXIMATELY $157,600 IN THE FORM OF DIVIDENDS TO ITS MEMBERS.
IRS990/ProgSrvcAccomActy3Grp/Desc0THE CREDIT UNION INCREASED THE MEMBERS' EQUITY POSITION BY APPROXIMATELY $460,000.
IRS990/ProhibitedTaxShelterTransInd00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE & DEPOSIT ACCOUNTS
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS WHO PURCHASE OWNERSHIP INTERESTS BY OPENING PRIMARY SHARE DEPOSIT ACCOUNTS WITH THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBER-OWNERS VOTE TO ELECT OR REPLACE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING BODY DOES NOT DELEGATE AUTHORITY TO ANY COMMITTEES TO ACT ON THE BOARD'S BEHALF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT/CEO PROVIDES A COPY OF THE FORM 990 TO THE BOARD AT A MONTHLY MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD MEMBERS AND KEY EMPLOYYES MUST SIGN CONFLICT OF INTEREST STATEMENTS ANNUALLY. COMPLIANCE WITH THE POLICY IS CONSISTENTLY MONITORED AND ENFORCED BY THE RESPECTIVE PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEWS THE CEO'S PERFORMANCE ANNUALLY AND DETERMINES THE SALARY FOR THE NEXT FISCAL PERIOD ACCORDINGLY. THE CEO REVIEWS THE PERFORMANCE OF KEY EMPLOYEES AND USES MARKET-BASED SALARY COMPARISONS TO DETERMINE PAY INCREASES FOR THESE INDIVIDUALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS,CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt030711887
IRS990/TotalAssetsEOYAmt034003673
IRS990/TotalAssetsGrp/BOYAmt030711887
IRS990/TotalAssetsGrp/EOYAmt034003673
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/TotalAmt01496451
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt027371976
IRS990/TotalLiabilitiesEOYAmt030150343
IRS990/TotalLiabilitiesGrp/BOYAmt027371976
IRS990/TotalLiabilitiesGrp/EOYAmt030150343
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03339911
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03853330
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt01888886
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02009870
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02009870
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt030711887
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt034003673
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt08152
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101105 WEST PIERCE
IRS990/USAddress/City0CARLSBAD
IRS990/USAddress/State0NM
IRS990/USAddress/ZIPCode088220
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FINSECCU.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JUDY CARRASCO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum05758876030
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-17
ReturnHeader/Filer/BusinessName/BusinessNameLine10FINANCIAL SECURITY CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0FINA
ReturnHeader/Filer/EIN0850161080
ReturnHeader/Filer/PhoneNum05758876030
ReturnHeader/Filer/USAddress/AddressLine101105 WEST PIERCE
ReturnHeader/Filer/USAddress/City0CARLSBAD
ReturnHeader/Filer/USAddress/State0NM
ReturnHeader/Filer/USAddress/ZIPCode088220
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202126731
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10PARKS & COMPANY PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10441 N WASHINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0EL DORADO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode071730
ReturnHeader/PreparerPersonGrp/PhoneNum08708623401
ReturnHeader/PreparerPersonGrp/PreparationDt02014-11-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0G PETE PARKS
ReturnHeader/ReturnTs02014-11-17T16:57:47-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$34,003,673
Liabilities
$30,150,343
Net assets
$3,853,330
Revenue
$2,009,870
Expenses
$1,496,451
Net income
$513,419
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$58.1$48.8$9.31$4.27$3.33$0.94
2023Summary only. Only limited summary data is available for this year.$59.8$51.8$7.96$3.73$2.84$0.89
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.5$52.5$7.02$3.19$2.58$0.61
2021Summary only. Only limited summary data is available for this year.$56.0$49.6$6.41$2.75$2.67$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$53.2$47.0$6.18$2.79$2.63$0.16
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.3$42.3$5.95$2.89$2.63$0.26
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$46.6$41.2$5.45$2.56$2.21$0.35
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.6$38.5$5.10$2.33$2.07$0.26
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.1$36.2$4.84$2.42$2.22$0.20
2015Detailed filing. Detailed filing data is available for this year.$42.1$37.5$4.65$2.38$1.93$0.45
2014Detailed filing. Detailed filing data is available for this year.$39.5$35.3$4.20$2.17$1.82$0.35
2013Detailed filing. Detailed filing data is available for this year.$34.0$30.2$3.85$2.01$1.50$0.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.7$27.4$3.34$1.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.6$25.7$2.88$1.32
Peer Organizations

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