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← CREDIT UNIONS IN THE STATE OF NEW MEXICO

Form 990 for tax year 2024

Filed by CREDIT UNIONS IN THE STATE OF NEW MEXICO.

Totals

Total revenue
$334,864
Total expenses
$335,366
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$269,545
Investment income
$12,069
Other revenue
$53,250
Total assets, end of year
$5,028,903
Total liabilities, end of year
$4,447,363
Net assets or fund balances, end of year
$581,540
Program services expenses (Part IX)
$335,366
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$335,366

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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.

  • 2f · All other program service revenue

    total $269,545

  • 3 · Investment income

    total $12,069

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11d · All other revenue

    total $53,250

  • 11e · Other revenue, total

    $53,250

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $114,915 · program services $114,915

  • 9 · Other employee benefits

    total $1,999 · program services $1,999

  • 10 · Payroll taxes

    total $9,692 · program services $9,692

  • 12 · Advertising and promotion

    total $3,623 · program services $3,623

  • 13 · Office expenses

    total $6,425 · program services $6,425

  • 16 · Occupancy

    total $24,132 · program services $24,132

  • 19 · Conferences, conventions and meetings

    total $8,242 · program services $8,242

  • 22 · Depreciation, depletion and amortization

    total $2,780 · program services $2,780

  • 23 · Insurance

    total $8,488 · program services $8,488

  • 24a · Other expenses: Dividends on Savings Accounts and Loan Losses

    total $111,198 · program services $111,198

  • 24b · Other expenses: Loan Servicing and Merchant Servicess

    total $36,704 · program services $36,704

  • 24c · Other expenses: Professional Fees

    total $4,892 · program services $4,892

  • 24d · Other expenses: Supervisory and Other Fees

    total $2,276 · program services $2,276

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $515,002 · end of year $193,243

  • 2 · Savings and temporary cash investments

    beginning of year $614,361 · end of year $404,922

  • 7 · Other notes and loans receivable

    beginning of year $4,006,909 · end of year $4,297,977

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,205 · end of year $15,931

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

    $70,618

  • 10c · Land, buildings and equipment, net

    beginning of year $67,252 · end of year $70,618

  • 15 · Other assets

    beginning of year $43,529 · end of year $46,212

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,894 · end of year $255,278

  • 25 · Other liabilities

    beginning of year $4,648,322 · end of year $4,192,085

Mission and programs · 2024

Mission

Cooperative savings and lending to members

Activities or mission (Part I)

Savings and loans under Federal Credit Union Act

  • Revenues earned and expense incurred in servicing member shares and loans under the Federal Credit Union Act.

    Expenses $335,366 · Revenue $334,864

As filed on the 2024 return.

Listed in Part VII

  • Arthur Romero

    President

    Total calculated
    $0
    Hours/week
    1

  • Shirley Sandoval

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Jennie Fresquez

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Montoya

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Nicolas Casados

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Alfrida Valencia

    Manager

    Total calculated
    $43,136
    From this org
    $43,136
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
18 February 2025
IRS schema version
2024v5.0
Source object
202510809349300736

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