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Member
Connection
January 2015
Thank you, to our member-owners for another great year!
Local credit union receives A+ rating
Featured in the Alamogordo Daily News Wednesday, November 19, 2014
Alamogordo-based Otero Federal Credit Union was
named to the 2014 Healthiest Credit Unions in America.
The list was compiled and released by DepositAccounts, a
website that rates financial institutions. OFCU has an A+
health rating. According to DepositAccounts, OFCU stood
out in all of the evaluated categories, but its Texas Ratio
and Capitalization were particularly noteworthy.
The Texas Ratio is an indicator of how much capital a
bank has available compared to the total value of loans
considered at risk. According to the scale, the lower the
percent the higher the rating.
On June 30, 2014, Otero Credit Union had $194,000 in
non-current loans and owned real-estate with $37.14
million in equity and loan loss allowances on hand to
cover it. This gives Otero Credit Union a Texas Ratio of
0.52 percent. Any bank with a Texas Ratio near or greater
than 100 percent is considered at risk.
According to the Texas Ratio trend, Otero Credit Union
experienced no significant changes from 0.48 percent in
June 30, 2013, to 0.52 percent as of June 30, 2014.
In the past year, Otero Credit Union has increased its total
deposits by $4.23 million, resulting in 1.83 percent growth
for the year. A strong track record of growth is an indicator
of consumer confidence and the bank’s ability to strengthen
its balance sheet.
Both FDIC and NCUA consider capitalization levels of
banks and credit unions to be of high importance. Higher
capitalization allows for a greater buffer to cover loans that
may fail in the future. Otero Credit Union has $274.61
million in assets with $37.14 million in equity, resulting in
a capitalization level of 13.52 percent.
Otero Credit Union is the ninth largest credit union in the
state of New Mexico. It is also the 748th largest credit
union in the nation. It was established in 1953. By June
2014, it had grown to 90 employees and 32,674 members.
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Breathe a little easier...
Consolidation Loans
As low as
9.99%
APR*
* Annual Percentage Rate. All loans are subject to credit approval. Rates are based on credit worthiness.
Other restrictions may apply.
Claim Your Youth
Teen Network
Claim Your Youth accounts focus on teens 13 to 18. As an OFCU Claim Your Youth member, OFCU encourages
teens to learn to use the many services and benefits available to them while they are still at home and can talk with
parents or someone at the credit union when they want more financial information to meet their goals. Claim Your
Youth Account benefits can be extended to age 22 if students are enrolled in a college or university full time.
What Are The Benefits?
•
•
•
•
•
•
Receive a gift certificate
for reaching each $200 goal.
OFCU Checking Account
Claim Your Youth members at age 16
will be eligible to open a regular OFCU
share draft checking account, when
co-signed by a parent or legal guardian,
with no minimum balance required and
no monthly service fees.
Free Mobile Apps for your smart
rtt phone,
ph
hon
one,
iPad or tablet.
Free Mobile Deposit
Online Account Access
Check your balances and transfer
ra
ans
nsfe
fer
r money
m
mo
between your OFCU accounts.
Access to the Claim Your Youth website.
From the website you will have access to
calculators to help see the numbers side
of budgeting. Tools, tips and resources
to help you manage your finances with
access to continuously updated financial
articles.
Scholarships
Otero Federal Credit Union will be offering
$500.00 Scholarships to local area graduating
seniors. Applicants must attend a public high
school, private school or be home schooled in
Otero, Lincoln or Chaves County. Scholarship
applications are available at your high school
Counselor’s office or online at www.oterofcu.org.
Deadline to apply: March 31, 2015.
The Credit Union Association of New Mexico
will be offering Scholarships to New Mexico
Residents. Applicants must use the scholarship to
attend an accredited vocational school, technical
school, college or university in New Mexico.
Applications will be available at www.cuanm.org
or on the OFCU website.
Deadline to apply: February 27, 2015
LOCATIONS
Main Office, Alamogordo
1200 E. 10th St.
Northside Office, Alamogordo
3300 N. White Sands Blvd.
In The Community
Spreading Holiday Cheer
Holloman Office, HAFB
Bldg. 786
Ruidoso Office
211 US Hwy 70 West
South Main Office, Roswell
1900 S. Main
North Main Office, Roswell
2211 N. Main
Lending Center, Alamogordo
3300 N. White Sands Blvd.
This past December, OFCU staff members
brought Holiday Cheer to the residents of Betty
Dare Good Samaritan Center in Alamogordo and
Emeritus at La Villa in Roswell. The residents were
treated to punch and assorted goodies along with
wrapped gifts provided by OFCU.
CALL CENTER
M-F 8:00 a.m. to 6:00 p.m.
(575) 434-8500 or
TOLL FREE (800)-376-9000
Partners In Education
BOARD OF DIRECTORS
Harry Bloom
Chairman
Virginia Miranda
1st Vice Chairman
David Sheppard
2nd Vice Chairman
Mike Kizer
Secretary
Juanita Whiteside
Treasurer
Mary Jo Drake
Director
Sylvia Serna
Director
SUPERVISORY COMMITTEE
Mary Jo Drake
Chairman
Pam McCarty
Vice Chairman
Joyce Gobrecht
Secretary
Thomas McKean
Member
Each year OFCU continues to conduct Financial
Literacy Classes to high school students in our
communities. Last year, OFCU conducted 8
separate classes to approximately 75 students over
the first 2 months of the year. These classes are
to help inform our youth on the importance of
credit and budgeting. If you would like to have a
class conducted at your school, please contact the
OFCU Marketing Department at 575-443-7070.
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EXECUTIVE MANAGEMENT
Juanita Whiteside
CEO
Regina Colbert
Senior VP of Operations
Melene Street
Senior VP of Lending
Norma Garrett
VP of Finance
Elsa Montoya
VP of Human Resources
Tamra Burling
VP of Technology
Darro Pannell
VP of Marketing
Visit https://turbotax.intuit.com/ for TurboTax guarantee and other important information.
Holiday Closures
Martin Luther King Day
January 19, 2015
President’s Day
February 16, 2015
Federally Insured By NCUA