Credit Union Information

Credit Unions

Credit Unions are non-profit organizations that are member owned with a member elected board of directors. The savings are pooled amongst the members, which allows the credit union to provide lower interest rates and higher dividends for its members. The Board of Directors are not compensated and their main concern is to ensure the safety of the credit union and meeting the needs of the owners.

The first credit union was established in Germany between 1849 and 1850 in the form of credit societies. The first state-side credit union was established in New Hampshire in 1909. Today there are over 15,000 credit unions nationwide. Credit unions have a strong federal insurance fund through the National Credit Union Share Insurance Credit Fund.

New Mexico Central Credit Union

The New Mexico Central Credit Union was chartered on December 1, 1955 to serve the residents of Albuquerque, Rio Rancho, and Corrales. New Mexico Central Credit Union provides service to numerous employer groups throughout New Mexico, including Lovelace Health, KOAT-TV, St. Josephs, and Presbyterian Healthcare Services. For a complete listing click here. New Mexico Central has approximately 4,400 members. New Mexico Central Credit Union was ranked 21 out of 25 Top New Mexico Credit Unions in New Mexico Business Weekly (December 6-12, 1999 issue).

For Membership Information click here.

For Information about our fees click here.

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