State ECU ''(also known as State Employees Credit Union of New Mexico or SECU New Mexico)'' is a federal

not-for-profit A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...

credit union A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including depo ...

headquartered in

Santa Fe, New Mexico Santa Fe ( ; , Spanish for 'Holy Faith'; tew, Oghá P'o'oge, Tewa for 'white shell water place'; tiw, Hulp'ó'ona, label=Tiwa language, Northern Tiwa; nv, Yootó, Navajo for 'bead + water place') is the capital of the U.S. state of New Mexico. ...

. As of 2019, State ECU has $569 million in assets, over 48,000 members, and eight branches in the

New Mexico ) , population_demonym = New Mexican ( es, Neomexicano, Neomejicano, Nuevo Mexicano) , seat = Santa Fe , LargestCity = Albuquerque , LargestMetro = Tiguex , OfficialLang = None , Languages = English, Spanish ( New Mexican), Navajo, Ker ...

. Deposits by the members are regulated and insured by

National Credit Union Administration The National Credit Union Administration (NCUA) is a government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federa ...

(NCUA) under latter's western region jurisdiction.

History

State Employees Credit Union was formed in 1958 to serve the following counties of

Bernalillo Bernalillo () is a town in Sandoval County, New Mexico, United States. As of the 2010 census, the town population was 8,320. It is the county seat of Sandoval County. Bernalillo is part of the Albuquerque Metropolitan Statistical Area. Histor ...

, Doña Ana,

Rio Arriba Rio Arriba County is a List of counties in New Mexico, county in the U.S. state of New Mexico. As of the 2010 United States Census, 2010 census, the population was 40,246. Its county seat is Tierra Amarilla, New Mexico, Tierra Amarilla. Its nort ...

Sandoval Sandoval is a habitational surname of Spanish origin. It primarily originates from Sandoval de la Reina, Spain, earlier called ''Sannoval'', which is a blend word of Latin ''saltus'' (meaning 'grove' or 'wood') and Latin ''novalis'' (meaning 'newl ...

, Santa Fe, San Miguel, or

Valencia Valencia ( va, València) is the capital of the Autonomous communities of Spain, autonomous community of Valencian Community, Valencia and the Municipalities of Spain, third-most populated municipality in Spain, with 791,413 inhabitants. It is ...

. In 2016, it got a new logo and a shortened name -''"State ECU";'' to distinguish itself from other states' SECUs.

Community support programs

To overcome the on-going

COVID-19 pandemic in New Mexico The COVID-19 pandemic was confirmed to have reached the U.S. state of New Mexico on March 11, 2020. On December 23, 2020, the New Mexico Department of Health reported 1,174 new COVID-19 cases and 40 deaths, bringing the cumulative statewide to ...

, State ECU created the ''State ECU Covid Relief Fund'' to support local businesses and nonprofits.

References

External links

Official website
{{Authority control Credit unions based in New Mexico Non-profit organizations based in New Mexico Banks established in 1958 Organizations established in 1958