Civic Intelligence

Railroad Employees Credit Union

EIN 85-0234701 • 501(c)14 • Belen, NM

Profile

New Mexico state chartered credit union providing financial services to its members as provided by the New Mexico Credit Union Act.

300 N 6th StBelen, NM 87002

www.brecu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

67th percentile

0.89x

Higher debt load relative to assets than 67% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

26th percentile

13.59x

Higher debt load relative to revenue than 26% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2025

Net Margin

74th percentile

19%

Higher net margin than 74% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

31st percentile

$136,365

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

501(c)14 • $50M-$100M nonprofits • Source year 2025

Asset Growth

61st percentile

3.0%

Faster asset growth than 61% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

85th percentile

20%

Faster revenue growth than 85% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Up

$75,361,731

Up $2,226,969 (+3.0%) from 2024

Liabilities

Up

$67,297,524

Up $1,428,773 (+2.2%) from 2024

Net Assets

Up

$8,064,207

Up $798,196 (+11%) from 2024

Revenue

Up

$4,953,613

Up $828,508 (+20%) from 2024

Expenses

Up

$4,012,078

Up $450,926 (+13%) from 2024

Net Income

Up

$941,535

Up $377,582 (+67%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0Assets 2010: $22,045,145Liabilities 2010: $19,601,254Net Assets 2010: $2,443,8912010Assets 2011: $21,937,448Liabilities 2011: $19,245,744Net Assets 2011: $2,691,7042011Assets 2012: $23,074,794Liabilities 2012: $20,196,692Net Assets 2012: $2,878,1022012Assets 2013: $23,600,317Liabilities 2013: $20,640,215Net Assets 2013: $2,960,1022013Assets 2015: $27,963,332Liabilities 2015: $24,494,389Net Assets 2015: $3,468,9432015Assets 2016: $28,001,973Liabilities 2016: $24,450,607Net Assets 2016: $3,551,3662016Assets 2017: $30,627,227Liabilities 2017: $26,722,397Net Assets 2017: $3,904,8302017Assets 2023: $63,728,797Liabilities 2023: $57,344,616Net Assets 2023: $6,384,1812023Assets 2024: $73,134,762Liabilities 2024: $65,868,751Net Assets 2024: $7,266,0112024Assets 2025: $75,361,731Liabilities 2025: $67,297,524Net Assets 2025: $8,064,2072025

Highlighted filing

2025

Assets$75,361,731
Liabilities$67,297,524
Net Assets$8,064,207

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $929,8172010Expenses 2011: $759,8102011Expenses 2012: $836,0752012Revenue 2013: $1,040,634Expenses 2013: $958,634Net Income 2013: $82,0002013Revenue 2015: $1,221,818Expenses 2015: $961,814Net Income 2015: $260,0042015Revenue 2016: $1,372,432Expenses 2016: $1,015,520Net Income 2016: $356,9122016Revenue 2017: $1,498,652Expenses 2017: $1,145,188Net Income 2017: $353,4642017Revenue 2023: $3,274,320Expenses 2023: $3,362,989Net Income 2023: -$88,6692023Revenue 2024: $4,125,105Expenses 2024: $3,561,152Net Income 2024: $563,9532024Revenue 2025: $4,953,613Expenses 2025: $4,012,078Net Income 2025: $941,5352025

Highlighted filing

2025

Revenue$4,953,613
Expenses$4,012,078
Net Income$941,535

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Jan 29, 2026
Return Version
2025v4.0
Gross Receipts
$4,953,613
Mission and Program Overview

Mission

New Mexico state chartered credit union providing financial services to its members as provided

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$45,266,847$47,246,903▲ $1,980,056
Savings and Temporary Cash Investments$22,449,180$22,953,049▲ $503,869
Rtn Earn Endowment Incm Other Fnds$7,266,011$8,064,207▲ $798,196
Land, Buildings, and Equipment, Net$1,996,532$1,833,032▼ $163,500
Cash and Non-Interest-Bearing Accounts$1,420,963$1,121,055▼ $299,908
Receivables From Officers Etc$72,349$135,900▲ $63,551
Prepaid Expenses and Deferred Charges$103,631$105,251▲ $1,620
Total Assets$73,134,762$75,361,731▲ $2,226,969
Other Assets Total$1,825,260$1,966,541▲ $141,281
Liabilities
Other Liabilities$65,445,040$66,799,697▲ $1,354,657
Accounts Payable and Accrued Expenses$423,711$497,827▲ $74,116
Total Liabilities$65,868,751$67,297,524▲ $1,428,773
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,266,011$8,064,207▲ $798,196
Total Liabilities and Net Assets / Fund Balance$73,134,762$75,361,731▲ $2,226,969

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,180,324$280,274-
Land$291,022--
Equipment$361,686$550,320-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Matthew SotoCEOFT$136,365$136,365

Board Members and Trustees

NameTitle
Horacio R PadillaChairperson
Wayne GallegosVice Chairperson
Amy ShieldsBoard Member
Theresa ChavezBoard Secretary
Jim DavisBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,288,394
Investment Income
$658,212
Other Revenue
$7,007
Change in Net Assets
$941,535
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,934,976
Salaries, Compensation, and Employee Benefits$1,077,102
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$738,179$0$0$738,179
All Other Expenses$294,870$0$0$294,870
Information Technology$174,610$0$0$174,610
Office Expenses$145,571$0$0$145,571
Current Officers, Directors, Trustees, and Key Employees$136,365$0$0$136,365
Other Employee Benefits$113,921$0$0$113,921
Occupancy$90,298$0$0$90,298
Payroll Taxes$72,530$0$0$72,530
Advertising$63,568$0$0$63,568
Depreciation Depletion$63,538$0$0$63,538
Fees for Services Other$61,960$0$0$61,960
Fees for Services Accounting$44,642$0$0$44,642
Pension Plan Contributions$16,107$0$0$16,107
Conferences and Meetings$15,171$0$0$15,171
Other Expenses$5,769$0$0$5,769
Fees for Services Legal$1,749$0$0$1,749
Interest$15$0$0$15
Total Functional Expenses$4,012,078$0$0$4,012,078
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$72,349$135,900▲ $63,551
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$66,799,697
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
Filing and Contact Details

Filer

Filer Name
Railroad Employees Credit Union
EIN
85-0234701
Phone
5058644740
Address
300 N 6th St, Belen, NM 87002

Signing Officer

Name
Matthew Soto
Title
CEO
Phone
5058644740
Signed
2026-01-29
Discuss with paid preparer
Yes

Organization Details

Formed
1955
Legal Domicile
Nm
Voting Board Members
5
Independent Board Members
5
Employees
17
Volunteers
0

Preparer

Firm
Greg R Schmidt CPA
Address
26 Cypress Pt, Amarillo, TX 79124
Preparer
Greg R Schmidt CPA
Phone
8552759297
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

The credit union is owned by its members. Members own shares (deposits), elect board members and vote on significant issues.

Pt VI, Line 7A

The members of the credit union vote annually on the board of directors of the credit union.

Pt VI, Line 11B

Form 990 is prepared by an independent CPA and a copy is provided to the board of directors and the management team prior to filing.

Pt VI, Line 12C

The organization is subject to credit union regulations which requires disclosure and monitoring on a quarterly basis.

Pt VI, Line 15A

The board of directors conducts salary reviews and approves compensation for the CEO and the Manager positions.

Pt VI, Line 15B

The board of directors conducts salary reviews and approves compensation for the CEO and the Manager positions.

Pt VI, Line 19

Forms 990 are available at the credit unions main location for inpection upon request.

Raw XML AppendixShowing 400 of 429 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.

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IRS990/PYProgramServiceRevenueAmt03675742
IRS990/PYRevenuesLessExpensesAmt0563953
IRS990/PYSalariesCompEmpBnftPaidAmt01050195
IRS990/PYTotalExpensesAmt03561152
IRS990/PYTotalRevenueAmt04125105
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt072349
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt0135900
IRS990/ReconcilationRevenueExpnssAmt0941535
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt07266011
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt08064207
IRS990/SavingsAndTempCashInvstGrp/BOYAmt022449180
IRS990/SavingsAndTempCashInvstGrp/EOYAmt022953049
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01180324
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0280274
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt01460598
IRS990ScheduleD/EquipmentGrp/BookValueAmt0361686
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0550320
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0912006
IRS990ScheduleD/LandGrp/BookValueAmt0291022
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0291022
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt066799697
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01833032
IRS990ScheduleD/TotalLiabilityAmt066799697
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt027429
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt112901
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt224654
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt370916
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd3true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd3false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Various
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1Auto
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2Auto
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3Autos
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt040592
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt125136
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt232030
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt3106236
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Amy Shields
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1Horacio Padilla
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2Wayne Gallegos
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3Theresa Chavez
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Board
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Board
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2Board
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3Board
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd3true
IRS990ScheduleL/TotalBalanceDueAmt0135900
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The credit union is owned by its members. Members own shares (deposits), elect board members and vote on significant issues.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The members of the credit union vote annually on the board of directors of the credit union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 is prepared by an independent CPA and a copy is provided to the board of directors and the management team prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization is subject to credit union regulations which requires disclosure and monitoring on a quarterly basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The board of directors conducts salary reviews and approves compensation for the CEO and the Manager positions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The board of directors conducts salary reviews and approves compensation for the CEO and the Manager positions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Forms 990 are available at the credit unions main location for inpection upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt073134762
IRS990/TotalAssetsEOYAmt075361731
IRS990/TotalAssetsGrp/BOYAmt073134762
IRS990/TotalAssetsGrp/EOYAmt075361731
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt017
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04012078
IRS990/TotalFunctionalExpensesGrp/TotalAmt04012078
IRS990/TotalGrossUBIAmt047878
IRS990/TotalLiabilitiesBOYAmt065868751
IRS990/TotalLiabilitiesEOYAmt067297524
IRS990/TotalLiabilitiesGrp/BOYAmt065868751
IRS990/TotalLiabilitiesGrp/EOYAmt067297524
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07266011
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08064207
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt04288394
IRS990/TotalReportableCompFromOrgAmt0136365
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04905735
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04953613
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt047878
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt073134762
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt075361731
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0300 N 6th
IRS990/USAddress/CityNm0Belen
IRS990/USAddress/StateAbbreviationCd0NM
IRS990/USAddress/ZIPCd087002
IRS990/VotingMembersGoverningBodyCnt05

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