Credit Unions in the State of New Mexico

“The credit union is owned and governed by its members. Members own shares, elect board members and vote on issues such as mergers and charter conversions. Board and management decisions affect the fees members pay, interest rates they are charged for loans, services the credit union offers and whether members receive dividends.”

“The credit union is owned and governed by its members, who own shares and elect board members.”

“The credit union is governed by its members, who vote on issues such as mergers and charter conversions.”

“The information reported on the 990 was accumulated by internal accounting staff and provided to a paid preparer to assemble. A draft of the 990 is provided to management for review prior to submission to the internal revenue service.”

“Employees and volunteers are required to sign a conflict of interest policy and disclosure form at their employment, as well as to complete a new form annually and disclose any new conflicts or possible conflicts should they exist. This is overseen by the human resources department, supervisory committee, and board of directors as applicable (board and supervisory for the review of senior management and conflicts of interest, and human resources for the review of staff/administrative management of conflicts of interest). The policy applies to all employees, board of directors, and supervisory committee members. Actual conflicts of interest, as well as possible conflicts of interest, are reviewed from the perspective of personal and/or financial interest or benefit that may be obtained by the employee identifying the possible or actual conflict of interest. In such cases, the employee with the stated conflict will abstain from any discussion or vote involving the matter of the conflict of interest. The president/ceo is responsible for the management of any conflict of interest issues that may arise in the workplace.”

“An annual review of the performance of the president/ceo is conducted by the board of directors. It also sets the salary and benefits of the president/ceo based on a combination of individual and organizational performance, in addition to conducting annual salary and total compensation studies with relevant peer groups (financial services, credit unions). Further, the credit union establishes compensation levels for each credit union position through an internal leveling and grading process to ensure market alignment with internal parity. Compensation for other officers or key employees of the organization is based upon evaluation of a combination of their education, experience, skills and competencies therein.”

“Available for review on request at the credit union's main office. Credit union members can obtain information about their credit union by attending the annual meeting for the membership, specifically requesting information from the credit union, reading credit union publications and accessing information on their credit union's website.”

“Net change in defined benefit obligation 1,338,655. Cumulative effect from change in accounting principle - asu no. 2016-13 -3,236,348.”