Credit Unions In the State of New Mexico
501(c)(14)
Strong reserves Growing revenue
Credit Unions In the State of New Mexico is a 501(c)(14) organization based in Albuquerque, New Mexico, registered in 1973, with $68,194,766 in FY2024 revenue.
4910 Union Way Ne, Albuquerque, NM, 87107 EIN 85-0102571 Since 1973
Revenue (FY2024)
$68.2M
▲ 11.3% vs prior year
Expenses (FY2024)
$65.6M
Net assets
$71.1M
Employees
283
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Credit Unions In the State of New Mexico— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating13 mo reserves · +4% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Credit Unions In the State of New Mexico: 13 mo reserves · +4% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Credit Unions In the State of New Mexico: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Credit Unions In the State of New Mexico: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
First financial credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members; at advantageous rates over those generally available from other banking sources.
What they do
Fees and charges are assessed to members for financial services. these fees generate the revenue necessary to pay the costs to provide these services.
Earnings from the investments. the excess of funds received from members, over the amount loanded to members, as well as accumulated surplus, is invested in securities allowed by the ncua, and the credit union's governing documents.
Contact & location
- Address
- 4910 Union Way Ne, Albuquerque, NM, 87107
- City
- Albuquerque
- State
- New Mexico
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $25.2M (FY2013) to $68.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $845.5MNet assets $71.1M
Operating margin
3.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$916.6M
Total liabilities
$845.5M
Net assets
$71.1M
Salaries & benefits
$27.2M
41% of expenses
Board members
13
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $68,194,766▲11.3% | $65,598,291▲17.2% | $71,101,877▲4.7% | $916,557,398▲4.4% | 990 |
| 2023 | $61,292,333▲20.4% | $55,963,625▲29.3% | $67,880,061▲3.5% | $877,714,950▲1.8% | 990 |
| 2022 | $50,914,383▲22.2% | $43,279,543▲36.2% | $65,595,101▼1.2% | $861,940,972▲4.1% | 990 |
| 2021 | $41,680,287▲15.0% | $31,785,009▼7.2% | $66,377,007▲32.2% | $827,742,636▲17.6% | 990 |
| 2020 | $36,248,505▼4.1% | $34,243,545▼0.1% | $50,214,306▲4.8% | $703,722,821▲24.9% | 990 |
| 2019 | $37,801,962▲6.6% | $34,289,288▲5.9% | $47,900,383▲7.8% | $563,340,389▲3.6% | 990 |
| 2018 | $35,448,974▲10.6% | $32,371,231▲7.4% | $44,441,072▲6.6% | $543,612,312▲4.6% | 990 |
| 2017 | $32,050,656▲14.6% | $30,136,634▲6.2% | $41,671,406▲5.7% | $519,712,050▲2.3% | 990 |
| 2016 | $27,970,252▲4.5% | $28,373,962▲7.2% | $39,442,428▼0.9% | $507,821,984▲3.3% | 990 |
| 2015 | $26,759,022▲7.0% | $26,470,970▲8.1% | $39,797,782▲5.8% | $491,504,002▲15.0% | 990 |
| 2014 | $25,000,162▼0.9% | $24,496,923▼4.0% | $37,618,001▲2.4% | $427,405,979▲2.9% | 990 |
| 2013 | $25,214,721 | $25,510,688▲18.4% | $36,748,745▲0.5% | $415,454,922▲5.9% | 990 |
| 2012 | — | $21,537,614▼0.9% | $36,557,421▲7.4% | $392,331,576▲3.5% | 990 |
| 2011 | — | $21,740,183▼26.4% | $34,040,666▲2.9% | $378,922,941▲7.2% | 990 |
| 2010 | — | $29,553,806 | $33,072,896 | $353,536,331 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Ronald Moorehead — $1,324,215 (2.02% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Ronald Moorehead | President/ce | 45 | $1,324,215 |
| Karen Ortiz | Evp/coo | 45 | $632,516 |
| Steve Coffey | Cio | 45 | $355,175 |
| Chris Samborski | Clo | 45 | $313,223 |
| Yvonne Alaniz-carpe | Cfo | 45 | $258,431 |
| Dennis Houston | Cso | 45 | $248,566 |
| Stormy Barrett | Vp Branch of | 45 | $196,357 |
| Boyd Miller | Emeritus Dir | 5 | — |
| Cassie Kelley | Ex-officer | 5 | — |
| Cynthia Frost | 1st Vice Cha | 5 | — |
| Iva Nelson | Director | 5 | — |
| Loretta Montoya | Chairperson | 5 | — |
| Melissa Wauneka | Director | 5 | — |
| Rick Goshorn | Secretary/tr | 5 | — |
| Stewart Logan | 2nd Vice Cha | 5 | — |
| Vanessa Ragsdale | Director | 5 | — |
| Vincent Esparaza | Director | 5 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Lamacchia Group | Contractors | $4,035,559 |
| Alkami | Online Platform | $1,295,372 |
| Cu Anytime LLC | Atm & Coins | $927,737 |
| Jack Henry Associates | Pmt. Processing | $805,618 |
| Fis Global | Cr/db Cards | $755,506 |
Frequently asked questions
- Is Credit Unions In the State of New Mexico a legitimate nonprofit?
- Yes. Credit Unions In the State of New Mexico is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 85-0102571, based in Albuquerque, New Mexico.
- What is Credit Unions In the State of New Mexico's EIN?
- Credit Unions In the State of New Mexico's Employer Identification Number (EIN) is 85-0102571.
- How much revenue does Credit Unions In the State of New Mexico report?
- Credit Unions In the State of New Mexico reported $68,194,766 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Credit Unions In the State of New Mexico's highest-paid employee make?
- The highest reported compensation on Credit Unions In the State of New Mexico's latest Form 990 is $1,324,215, paid to Ronald Moorehead (President/ce).
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Data for Credit Unions In the State of New Mexico (EIN 85-0102571) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.