Five NM Credit Unions Make Forbes- Best-of List

June 26th, 2020 by admin

Five NM Credit Unions Make Forbes Best List

Albuquerque, New Mexico, June 25, 2020 – The Credit Union Association of New Mexico wants to congratulate the state’s five credit unions that made Forbes 2020 list of best credit unions.

Every year the publication surveys members of credit unions and compiles its list called “The Best Banks and Credit Unions in Every State.” This year, five credit unions from Albuquerque, Alamogordo, and Santa Fe made the list. Members were asked 20 questions about their financial dealings, and credit unions were rated on overall recommendations and satisfaction, as we well as trust, terms and conditions, branch services, digital services, and financial advice.

“Every credit union In New Mexico strives to bring the best service to its members, but we certainly want to celebrate these five go above and beyond,” said Paul Stull, President and CEO of CUANM. “Forbes rankings show that credit unions provide more service, and satisfaction, for their members than banks.”

This year’s New Mexico winners include:

RankCredit Union# of EmployeesHeadquartersCEO
1Sandia Laboratory FCU329AlbuquerqueRobert Chavez
2Otero Federal Credit Union101AlamogordoRegina Colbert
3US Eagle Federal Credit Union249AlbuquerqueMarsha Majors
4Sandia Area Federal Credit Union143AlbuquerquePaula Peknik
5State Employees Credit Union138Santa FeHarold Dixon

In the survey, credit unions earned consistently-higher marks than banks. “We couldn’t have said it better than Forbes,” Stull said.

The magazine said: “There are more than 5,200 credit unions with 120 million members across the U.S. Members-only credit unions typically have lower fees and offer better interest rates than traditional banks, and the nonprofit model where the members are the owners puts the customer first, resulting in higher levels of satisfaction.”

There are 42 credit unions with headquarters in New Mexico that represent nearly 1 million members.

Find the entire list and Forbes’ methodology HERE.

About Us:
The Credit Union Association of New Mexico provides education, training and advocacy services to New Mexico’s credit unions and their 900,000 members.

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