Consumers
The Credit Union Association of New Mexico’s mission is to help credit union members. Use this Web site to find out more about New Mexico credit unions. You can find a credit union, learn about the benefits of credit union membership, find an ATM or branch state- or nationwide, and much more through this Web site.
If you have questions or need information and can’t find it through this Web site, please contact us.
Announcements
Scholarships available
SCHOLARSHIP DEFINITION
• An annual scholarship in an amount to be determined by the Foundation Board of Directors
• Paid directly to a New Mexico institution at the beginning of the fall semester
Application
ELIGIBILITY REQUIREMENTS
• Applicants must be New Mexico residents (NM state residency requirement is 1 year)
• Graduating high school seniors must have a 2.8 cumulative grade point average (on a 4.0 scale)
• Undergraduate students must have a 2.8 cumulative grade point average (on a 4.0 scale). Only
undergraduate students are eligible
• Undergraduate students must currently be enrolled as a full-time student (no less than 12 credit
hours)
• Must submit a copy of a recent transcript (does not have to be an official copy)
• Applicants must provide at least one letter of recommendation
• Applicants must use the scholarship to attend an accredited vocational, technical school, college or
university in New Mexico
• Applicants must submit a completed application (note there are 2 pages to be completed for this
scholarship application to be eligible), which must be postmarked no later than Friday,
February 26, 2010, for consideration for the 2010-2011 academic year. Scholarship recipients
will be notified within 60 days of the deadline.
This is a one (1) time scholarship. Persons who wish to receive additional scholarships must
re-apply each year. Scholarships will be awarded on the basis of funds available and the
applicant’s eligibility.
APPLICATIONS MUST BE POSTMARKED BY FRIDAY, February 26, 2010.
Send Applications to:
NEW MEXICO CREDIT UNION EDUCATION FOUNDATION
4200 Wolcott Ave. NE
Albuquerque, NM 87109
The New Mexico Credit Union Education Foundation does not discriminate on the basis of age, race, creed, national
origin or gender.
Invest in America for great rates, discounts on new cars for credit union members
Credit Union Members Get Some of the Best Auto Rates, Plus Exclusive Discounts through Invest in America!
.
Don't Fall for Jury Duty Scam
THE VERDICT: HANG UP
The phone rings, you pick it up, and the caller identifies himself as an officer of the court. He says you failed to report for jury duty and that a warrant is out for your arrest. You say you never received a notice. To clear it up, the caller says he’ll need some information for “verification purposes"-your birth date, social security number, maybe even a credit card number.
This is when you should hang up the phone. It’s a scam.
Jury scams have been around for years, but have seen a resurgence in recent months. Communities in more than a dozen states have issued public warnings about cold calls from people claiming to be court officials seeking personal information. As a rule, court officers never ask for confidential information over the phone; they generally correspond with prospective jurors via mail.
The scam’s bold simplicity may be what makes it so effective. Facing the unexpected threat of arrest, victims are caught off guard and may be quick to part with some information to defuse the situation.
“They get you scared first,” says a special agent in the Minneapolis field office who has heard the complaints. “They get people saying, ‘Oh my gosh! I’m not a criminal. What’s going on?’” That’s when the scammer dangles a solution-a fine, payable by credit card, that will clear up the problem.
With enough information, scammers can assume your identity and empty your bank accounts.
“It seems like a very simple scam,” the agent adds. The trick is putting people on the defensive, then reeling them back in with the promise of a clean slate. “It’s kind of ingenious. It’s social engineering.”
More Information
Want to learn more about new and common scams like this one? Then sign up for our e-mail alerts.
In recent months, communities in Florida, New York, Minnesota, Illinois, Colorado, Oregon, California, Virginia, Oklahoma, Arizona, and New Hampshire reported scams or posted warnings or press releases on their local websites. In August, the federal court system issued a warning on the scam and urged people to call their local District Court office if they receive suspicious calls. In September, the FBI issued a press release about jury scams and suggested victims also contact their local FBI field office.
In March 2006, USA.gov, the federal government’s information website, posted details about jury scams in their Frequently Asked Questions area. The site reported scores of queries on the subject from website visitors and callers seeking information.
The jury scam is a simple variation of the identity-theft ploys that have proliferated in recent years as personal information and good credit have become thieves’ preferred prey, particularly on the Internet. Scammers might tap your information to make a purchase on your credit card, but could just as easily sell your information to the highest bidder on the Internet’s black market.
Protecting yourself is the key: Never give out personal information when you receive an unsolicited phone call.
NMCUEF awards $48,600 in scholarships
ALBUQUERQUE, New Mexico (April 14, 2009)—The New Mexico Credit Union Education Foundation (NMCUEF) recently awarded a total of $48,600 in scholarships to 81 students in New Mexico for the 2009-2010 school year. Each scholarship recipient was given $600. Applications from more than 400 students were received and 41 of the recipients were re-applicants. Applicants must be New Mexico residents and meet a number of requirements, including grade point average and full-time enrollment.
The New Mexico Credit Union Education Foundation is a unique scholarship program formed through special legislation that allows credit unions to use abandoned funds for educational or charitable purposes. Since it was established in 1992, the New Mexico Credit Union Education Foundation has presented 870 scholarships for a total of $430,600 to students attending accredited vocational or technical school, college or university in New Mexico.
Recipients of the scholarships and their schools by hometown are:
Alamogordo
John Davisson — New Mexico State University
Kattie Dean —New Mexico State University
Deidre Davis – NMSU-Alamogordo
Dennis Magee Jr. – University of New Mexico
Albuquerque
Lauren Cala — University of New Mexico
Darlene Chavez – University of New Mexico
Sharla Frazier — Central New Mexico Community College
Delana M. Gonzales — University of New Mexico
Meghan Hedrick – University of New Mexico
Rayanna Johnson – Highland High School
Tiffany Martinez – University of New Mexico
Lindsay McGhee – Central New Mexico Community College
Alicia Montoya – Southwest Indian Polytechnic Institute
Rachel Powell – University of New Mexico
Melissa Tafoya — New Mexico Highlands University-Rio Rancho
Amy Wenker – Central New Mexico Community College
Ashley Zamora-Rizzieri – University of New Mexico
Alcalde
Francisco Vigil – McCurdy High School
Arrey
Monica Bencomo—University of New Mexico
Artesia
Dusty Anderson – Artesia High School
Kyla Taylor – Artesia High School
Buena Vista
Cassandra Silva – Mora High School
Carlsbad
Sara Aldaz – Carlsbad High School
Cassandra Marrs—Eastern New Mexico University
Chimayo
Angelo Medina – Espanola Valley High School
Cloudcroft
Margaret Carter — St. John’s College
Clovis
Clay Beevers – New Mexico Tech
Logan Potts — New Mexico State University
Corrales
Steven E. Olona — New Mexico Tech
Deming
Jessica Benningfield—Deming High School
Marisa Holguin – Deming High School
Dexter
Dustin D. Davenport — New Mexico State University
El Rito
Mariano Trujillo II – Mesa Vista High School
Encino
Ashley Garcia – Vaughn High School
Española
Jacqueline Abeyta – Northern New Mexico College
Tamara L. Gallegos —Northern New Mexico College
Robin Montoya — New Mexico Institute of Mining and Technology
Michael Torrez – Northern New Mexico College
Farmington
Clifford Harris Jr. — San Juan College
Guadalupita
Kyanne Fields – Mora High School
Hatch
Martha Soto – Hatch Valley High School
Hernandez
Ashley Martinez – Mesa Vista High School
Hurley (North)
Diane Ortega — Western New Mexico University
Las Cruces
Theresa Carr – New Mexico State University
Brianna Dozier – Las Cruces High School
Ron A. Garcia — New Mexico State University
Bethany L. Fritz Hufferd — New Mexico State University
Kalie Geary – New Mexico State University
Nicole Nava – New Mexico State University
Amber Quinones – Onata High School
Las Vegas
Leigha Gallegos – Luna Community College
Logan
Johanna Albright – Logan High School
Loving
Natalie Rodriguez – Loving High School
Lovington
Bridgette Davis – New Mexico Junior College
Mora
Sonya Martinez — New Mexico State University
Ojo Caliente
Ashley Gallegos — Northern New Mexico College
Portales
Wendy Stokes — Eastern New Mexico University
Jessica Huff – Eastern New Mexico University
Ranchos de Taos
Danielle Lee Griego — University of New Mexico
Regina
Michael Schmitz – Coronado High School
Roswell
Heather Fogarty – Goddard High School
Elizabeth Mysza — University of New Mexico
Meghan Sanchez – Goddard High School
Braden Wagner – Goddard High School
Salem
Alma Hernandez – Hatch Valley High School
San Juan Pueblo
Adriana Martinez – Northern New Mexico College
Santa Cruz
Cassandra Olivas – Espanola Valley High School
Santa Fe
Alicia Armijo — University of New Mexico
Ryan D. Baca — Capital High School University of New Mexico Santa Fe
Charmaine Mares – University of Phoenix
Angelica Padilla – St. Michael’s High School
Jayla Read – University of Phoenix
Esperanza Rodriguez — Northern New Mexico College
Rachel Romero – University of New Mexico
Truth or Consequences
Tyler X. Long — Western New Mexico University
Mario Trujillo — University of New Mexico
Tucumcari
Rusty Dwayne Brake — Eastern New Mexico University
Ashley Lopez – Tucumcari High School
Velarde
Crystal Gonzales – Northern New Mexico College
Credit union members: Don’t panic
A national story on NCUA and the corporate credit union conservatorships on CNN Money blog puts it all in proper perspective for consumers:
Posted by Ismat Sarah Mangla
March 23, 2009 11:29 am
We’ve said it before and we’ll say it again: Credit unions often offer some of the best deals in banking. But on Friday night, federal regulators seized two corporate credit unions with assets totaling $57 billion. So what does that mean for the sterling rep credit unions have managed to build?
The two institutions put into conservatorship, US Central Federal Credit Union in Lenexa, Kansas, and Western Corporate Federal Credit Union in San Dimas, California, did not actually serve consumers directly. Rather, they acted as clearinghouses, offering loans and other services to retail credit unions. According to the National Credit Union Administration, the federal body that overseas credit unions, both US Central and Western Corporate held “an unacceptably high concentration of risk” and federal seizure was required “to protect retail credit union deposits.” NCUA says that despite the seizure, both will continue offering services.
Make sure your credit union features the NCUA logo on its web site and at the branch.
If you’re one of the 90 million credit union members nationwide, don’t panic in the face of this news. You deposits are safe. The NCUA, like the Federal Deposit Insurance Corporation, insures all credit union deposits, usually up to $100,000. And, like the FDIC, the NCUA increased its coverage to $250,000 until December 31, 2009. Just make sure that you see the NCUA logo pictured here on your credit union’s web site. If you’re unsure whether your credit union is a member (98% of them are), NCUA’s web site offers a tool that helps you check. You should also use the Electronic Share Insurance Calculator to make sure all your credit union deposits are covered. (Just like FDIC insurance, deposits at any one institution exceeding $250,000 are not covered unless those accounts fall in different ownership categories. Doublecheck yours with ESIC.)
Bottom line: You’re still going to find low fees and good deals at credit unions. As long as your institution is federally insured and your deposits fall below the insured limits, you can rest easy.
Scholarship winners to be announced soon
The deadline to submit scholarships to the New Mexico Credit Union Education Foundation has passed. Winners will be announced and notified in mid-April. Scholarship applications for the 2010-2011 school year will be available in November. Watch this Web site for more information.
Are you eligible for EITC?
Earned Income Tax Credit could help you lower taxes, claim refund
The Earned Income Tax Credit (EITC) is a tax credit for people who work but do not earn high incomes. The EITC is a valuable tool helping eligible taxpayers to lower their taxes or to claim a refund. The IRS wants all eligible taxpayers to claim this credit.
Read more.
E-mails from 'NCUA' a scam
Some credit union members have reported receiving a phishing e-mail purportedly from the NCUA. Phishing is the criminally fraudulent process of attempting to acquire sensitive information such as usernames, passwords and credit card details, by masquerading as a trustworthy entity — such as a credit union — in an e-mail.
The scam e-mail purports to be from the National Credit Union Administration (NCUA) and asks ‘FCU holder account’ to click into a link and fill in a form. The scam e-mail says the action is designed to protect the recipient’s account and threatens that if the recipient doesn’t comply, account access will be limited or denied.
The fraudulent e-mail was not sent by the NCUA or any credit union or other financial institution. No reputable financial institution, such as a credit union, will ask for personal information — account number, usernames, passwords or Social Security number — in an unsolicited e-mail.
Members should contact their credit unions if they have questions or have received a similar e-mail. A credit union directory, including phone numbers, can be found on the Credit Union Association of New Mexico Web site.
Chrysler offers CU members special incentives
The Chrysler Cash Incentive Program is now available exclusively to credit union members in a 12-state region. The pilot program was launched and unveiled to the national media December 16 so credit union members can take advantage of the cash incentive immediately during this peak holiday car-buying season.
This program will provide credit union members with $500 or $1,000 cash incentives on most 2008 and 2009 Chrysler cars and trucks. And even better, these incentives will be layered on top of any other promotions or incentives available to the member.
For more information, contact your credit union or your local Chrysler dealership.
Scammers contacting CU members
Credit unions have reported that a telephone scam has occurred in the Los Alamos and Santa Fe areas. Local credit unions report their members were contacted by an automated caller claiming their plastic cards were compromised. Members were then referred to a “security department” and asked for their card numbers and PINs. 
Unfortunately members have provided that personal information despite best efforts to inform them to never do that.
Members are reminded to never divulge confidential information such as PINs, passwords, card numbers, account numbers or Social Security numbers to anyone making an unsolicited call. Credit unions and other financial institutions already have your confidential information on record and will never contact you to ask for that information. If you have any questions about whether your card has been compromised or believe your card or confidential information has been compromised, call your credit union immediately.
The attorney general’s office was made aware of this situation and contacted the local media. CUANM president and CEO Sylvia Lyon taped an interview with KOB-TV Wednesday evening stressing the importance of never divulging personal financial information to any unsolicited phone caller.
Please call your credit union with any questions or concerns or call CUANM 298-9899 or 1-800-366-6628.
Credit unions are safe, secure
In today’s financial marketplace, consumers are becoming increasingly concerned about the safety and soundness of their money. The recent failure of several financial institutions and current financial crisis, as well as the overall economy, have people very anxious. It is critically important for consumers to have confidence in their financial institution and the regulatory safeguards that are in place to help protect them.
The public should know that New Mexico credit unions are safe and sound financial institutions. The deposits of New Mexico’s 615,630 credit union members are federally insured by the National Credit Union Administration (NCUA) and backed by the full faith and credit of the United States government. Every member’s account is federally insured up to $100,000 and retirement accounts are insured up to $250,000. And as some lawmakers recommend raising that coverage to $250,000 for bank accounts, national credit union representatives are working to make sure the coverage will extend to credit unions.
In the history of the insurance fund, not one penny of insured savings has ever been lost by a member of a federally insured credit union. In addition New Mexico credit unions as a whole are in very strong shape and very well capitalized. Credit unions set aside extra capital to serve as a safety net should any losses occur. New Mexico credit union members can rest assured that their deposits are safe and sound.
In economically challenging times, consumers not only need a good deal, but also a provider they can trust. Who better to help them than an organization whose mission is people helping people?
To learn more about your insured savings, visit the following websites:
NCUA Share Insurance Estimator
Member accounts are federally insured
• Brochure available from NCUA
The National Credit Union Administration, commonly referred to as NCUA, is the federal government agency that charters and supervises federal credit unions. NCUA also operates and manages the National Credit Union Share Insurance Fund (NCUSIF). Backed by the full faith and credit of the U.S. government, NCUSIF insures the accounts of millions of account holders in all federal credit unions and the majority of state-chartered credit unions. This brochure explains how.
Video answers questions about safety of CU deposits
The Credit Union National Association has just posted a slide show on its Web site to inform credit union members about federal deposit insurance and the safety of their money.
The slide show with audio is of National Credit Union Association Board Vice Chairman Rodney Hood explaining, in clear and familiar terms, how credit union savings are insured – “just like the FDIC does for banks” – by the NCUA.
Vice Chairman Hood made the comments last spring during an appearance on “Home and Family Finance Radio,” presented by America’s Credit Unions.
To view/hear the presentation, click here. The presentation is in Adobe Flash format.
Your CU funds are federally insured
CU funds federally insured
Albuquerque NM – New Mexico credit unions, which count over 615,000 members and hold nearly 17 percent of our state’s financial market share, are going largely unmentioned in the adverse financial headlines for a reason.
Historically, credit unions operate more conservatively and tend to hold more of their mortgage loans (about 70 percent nationally) in portfolio rather than sell them to Fannie Mae and Freddie Mac on the secondary market. And credit unions, as member-owned, not-for-profit cooperatives, are not out seeking ways to shore up lost profits by adding fees or pushing products that aren’t in the best interests of members.
“We want consumers to know that credit union accounts are federally insured through the National Credit Union Share Insurance Fund (the credit union equivalent to FDIC, administered through the National Credit Union Administration) to at least $100,000. In New Mexico, 100 percent of credit unions are insured under this program,” said Sylvia Lyon, president and CEO of the Credit Union Association of New Mexico.
The very existence of the credit union movement can be directly tied to another definitive economic situation – the Great Depression. People wanted to have a stake in their financial institution and the cooperative structure of credit unions (where every member has ownership and a vote) was born. Today we are seeing many people coming to credit unions to find a way to refinance non-traditional mortgages and put their money in a stable source offering good rates. Savings at credit unions have actually grown nearly 7 percent this year.
For information on NCUA Share Insurance, visit: the NCUA Web site.
Facts about credit union deposits
AmericasCUssecurestrongfed.pdf
MSN: Ditch your bank
Ditch your bank, says MSN Money columnist Liz Pulliam Weston in a column published online this week, adding, “Credit unions deliver big savings and better service for many consumers.”
In the article, Weston noted, “Because of their not-for-profit, cooperative structures, credit unions are exempted from most state and federal taxes. Banks have convinced themselves this is an unfair advantage and have spent a lot of effort, plus a fortune in lobbying fees, trying to legislate credit unions out of existence or at least limit who can join. (I guess they thought the money was better spent there than on, say, improving their interest rates, reducing their fees or slashing their telephone hold times.)”
Read the full article here.