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← CREDIT UNIONS IN THE STATE OF NEW MEXICO

Form 990 for tax year 2022

Filed by CREDIT UNIONS IN THE STATE OF NEW MEXICO.

Totals

Total revenue
$778,879
Total expenses
$643,547
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$576,947
Investment income
$148,218
Other revenue
$53,714
Total assets, end of year
$22,163,951
Total liabilities, end of year
$19,036,855
Net assets or fund balances, end of year
$3,127,096
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: LOAN INTEREST

    total $467,170 · related or exempt $467,170

  • 2b · Program service revenue: FEES & CHARGES

    total $109,777 · related or exempt $109,777

  • 3 · Investment income

    total $148,586 · related or exempt $148,586

  • 7b · Less cost or other basis and sales expenses

    other assets $368

  • 7c · Gain or loss

    other assets -$368

  • 7d · Net gain or loss

    total -$368 · related or exempt -$368

  • 11a · Other revenue: CAPITAL SHARE CLAIM RE

    total $51,882 · related or exempt $51,882

  • 11b · Other revenue: INSURANCE SALES

    total $1,832 · unrelated business $1,832

  • 11e · Other revenue, total

    $53,714

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $81,985

  • 7 · Other salaries and wages

    total $113,725

  • 9 · Other employee benefits

    total $11,449

  • 10 · Payroll taxes

    total $14,691

  • 11b · Fees: legal

    total $2,321

  • 11c · Fees: accounting

    total $5,280

  • 11g · Fees: other

    total $2,946

  • 13 · Office expenses

    total $231,453

  • 16 · Occupancy

    total $13,280

  • 19 · Conferences, conventions and meetings

    total $6,327

  • 20 · Interest

    total $74,275

  • 22 · Depreciation, depletion and amortization

    total $10,587

  • 24a · Other expenses: ATM EXPENSES

    total $37,121

  • 24b · Other expenses: ASSOCIATION DUES

    total $14,050

  • 24c · Other expenses: LOAN SERVICING

    total $9,246

  • 24d · Other expenses: SHARE DRAFT SERVICES

    total $5,326

  • 24e · All other expenses

    total $9,485

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $645,169 · end of year $530,211

  • 2 · Savings and temporary cash investments

    beginning of year $12,983,960 · end of year $14,353,862

  • 7 · Other notes and loans receivable

    beginning of year $7,026,162 · end of year $6,701,057

  • 9 · Prepaid expenses and deferred charges

    beginning of year $146,326 · end of year $34,529

  • 10a · Land, buildings and equipment: cost or other basis

    $823,402

  • 10b · Land, buildings and equipment: accumulated depreciation

    $503,841

  • 10c · Land, buildings and equipment, net

    beginning of year $225,294 · end of year $319,561

  • 13 · Investments: program-related

    beginning of year $12,653

  • 15 · Other assets

    beginning of year $206,643 · end of year $224,731

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,540 · end of year $17,451

  • 25 · Other liabilities

    beginning of year $18,234,903 · end of year $19,019,404

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $2,991,764 · end of year $3,127,096

Mission and programs · 2022

Mission

SEE PART I, LINE 1

Activities or mission (Part I)

PROVIDE LOAN AND DEPOSIT PRODUCTS & SERVICES TO MEMBER-OWNERS OF THE ORGANIZATION AT A REASONABLE COST AND WITH A REASONABLE RATE OF RETURN, RESPECTIVELY.

  • THE CREDIT UNION PROVIDED ITS MEMBERS A VARIETY OF BANKING SERVICES INCLUDING LOANS AT RATES BELOW THOSE OFFERED BY TRADITIONAL FINANCIAL INSTITUTIONS.

  • THE CREDIT UNION RETURNED EARNINGS OF APPROXIMATELY $74,000 TO ITS MEMBERS IN THE FORM OF DIVIDENDS.

  • THE CREDIT UNION INCREASED THE MEMBERS' EQUITY POSITION BY APPROXIMATELY $135,000.

As filed on the 2022 return.

Listed in Part VII

  • Martin Herrera

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Walter Taylor

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jeanette Linville

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jack Nelson

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Valentin McCoy

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rhonda Jacquez

    CEO

    Total calculated
    $81,985
    From this org
    $0
    From related orgs
    $81,985
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202313199349323396

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