Form 990 for tax year 2024
Filed by CREDIT UNIONS IN THE STATE OF NEW MEXICO.
Totals
- Total revenue
- $49,308,942
- Total expenses
- $58,904,437
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $42,683,996
- Investment income
- $6,624,946
- Other revenue
- $0
- Total assets, end of year
- $679,457,247
- Total liabilities, end of year
- $638,548,205
- Net assets or fund balances, end of year
- $40,909,042
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: INTEREST INCOME
total $30,468,301 · related or exempt $30,468,301
-
2b · Program service revenue: FEES AND CHARGES
total $12,215,695 · related or exempt $12,215,695
-
3 · Investment income
total $6,019,253 · related or exempt $6,019,253
-
7a · Gross sales of assets other than inventory
other assets $605,693
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $605,693
-
7d · Net gain or loss
total $605,693 · excluded $605,693
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $516,525
-
7 · Other salaries and wages
total $9,105,872
-
8 · Pension plan contributions
total $341,010
-
9 · Other employee benefits
total $934,635
-
11b · Fees: legal
total $95,053
-
11c · Fees: accounting
total $131,722
-
11g · Fees: other
total $4,327,126
-
12 · Advertising and promotion
total $1,040,531
-
13 · Office expenses
total $8,469,832
-
14 · Information technology
total $1,370,454
-
16 · Occupancy
total $903,088
-
19 · Conferences, conventions and meetings
total $6,126
-
20 · Interest
total $15,439,671
-
22 · Depreciation, depletion and amortization
total $617,449
-
23 · Insurance
total $130,089
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $12,104,365
-
24b · Other expenses: LOAN SERVICING
total $1,422,376
-
24c · Other expenses: DATA PROCESSING
total $1,319,717
-
24d · Other expenses: MISC EXP
total $628,796
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,737,886 · end of year $2,033,437
-
2 · Savings and temporary cash investments
beginning of year $2,422,962 · end of year $2,733,408
-
4 · Accounts receivable
beginning of year $0 · end of year $1,023,041
-
7 · Other notes and loans receivable
beginning of year $442,752,470 · end of year $403,190,061
-
10a · Land, buildings and equipment: cost or other basis
$29,372,709
-
10b · Land, buildings and equipment: accumulated depreciation
$11,763,145
-
10c · Land, buildings and equipment, net
beginning of year $19,084,105 · end of year $17,609,564
-
11 · Investments: publicly traded securities
beginning of year $134,734,178 · end of year $243,581,814
-
12 · Investments: other securities
beginning of year $3,479,000 · end of year $2,732,000
-
15 · Other assets
beginning of year $6,721,765 · end of year $6,553,922
-
17 · Accounts payable and accrued expenses
beginning of year $7,131,091 · end of year $5,849,016
-
19 · Deferred revenue
beginning of year $3,522,770 · end of year $2,550,576
-
23 · Secured mortgages and notes payable
beginning of year $10,000,000 · end of year $13,095,024
-
25 · Other liabilities
beginning of year $541,521,310 · end of year $617,053,589
-
29 · Capital stock, trust principal or current funds
beginning of year $4,737,146 · end of year $4,737,146
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $45,020,049 · end of year $36,171,896
Mission and programs · 2024
Mission
THE MISSION OF RIO GRANDE CREDIT UNION IS TO CREATE A TRUSTED PARTNERSHIP WITH OUR MEMBERS THAT DEMONSTRATES EXCELLENT MEMBER SERVICE BY PROVIDING FINANCIAL EDUCATION SOLUTIONS,COMPETITIVE PRICING AND CONVENIENCE.
-
EARNINGS FROM THE INVESTMENTS OF THE EXCESS OF FUNDS RECEIVED FROM MEMBERS, OVER THE AMOUNT LOANED TO MEMBERS, AS WELL AS ACCUMULATED SURPLUS, IS INVESTED IN SECURITIES ALLOWED BY THE NCUA, AND THE CREDIT UNIONS GOVERNING DOCUMENTS.
Revenue $6,019,253
-
FEES AND CHARGES ARE ASSESSED TO MEMBERS FOR FINANCIAL SERVICES. THESE FEES GENERATE THE REVENUE NECESSARY TO PAY THE COSTS TO PROVIDE THESE SERVICES.
Revenue $12,215,695
-
INTEREST IS CHARGED AT MARKET RATES TO MEMBERS TO PROVIDE REVENUE TO PAY FOR THE COST OF THE FUNDS.
Revenue $30,468,301
As filed on the 2024 return.
Listed in Part VII
-
Daniel MayfieldDANIEL MAYFIELD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Irene SerenaIRENE SERENA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Lisa Sedillo-WhiteLISA SEDILLO-WHITE
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
Cynthia BorregoCYNTHIA BORREGO
SECRETARY TREASURER
- Total calculated
- $0
- Hours/week
- 4
-
Mark SanchezMARK SANCHEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Dianne BrownDIANNE BROWN
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
Susan BiernackiSUSAN BIERNACKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Tony DeesTONY DEES
PRESIDENT / CEO
- Total calculated
- $79,327
- From this org
- $79,327
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Luke TannerLUKE TANNER
VP OF MARKETING AND COMPLIANCE
- Total calculated
- $107,910
- From this org
- $107,910
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Mel LeeMEL LEE
CHIEF INFORMATION OFFICER
- Total calculated
- $168,147
- From this org
- $168,147
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $166,847
- Bonus
- $1,300
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $168,147
-
Jacob ArmijoJACOB ARMIJO
CHIEF LENDING OFFICER
- Total calculated
- $23,152
- From this org
- $23,152
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
April BradshawAPRIL BRADSHAW
CHIEF OPERATIONS OFFICER
- Total calculated
- $137,989
- From this org
- $137,989
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 27 January 2026
- IRS schema version
- 2024v5.5
- Source object
- 202600299349300915
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