CU Professionals
The Credit Union Association of New Mexico’s mission is to help credit unions, their employees and members. Use this Web site to find out more about Association services to help you serve members better, education and training opportunities, articles about credit union topics and issues in the news, credit union jobs, compliance, legal and legislative information and updates, and much more.
If you have questions or need information and can’t find it through this Web site, please contact us.
Recent News
• Senate version of CURIA introduced• Silver Star Gala June 6
• JMFA announces new contract cost reduction service
• CUANM Network newsletter April 2008
• Scholarship winners announced
» Read all news
Announcements
CURIA introduced in Senate by Sen. Joe Lieberman
CUNA President Dan Mica announced yesterday that Sen. Joe Lieberman has introduced a Senate version of CURIA, while a nearly identical bill is still pending in the House. Mica is asking credit union professionals to express gratitude to Lieberman for his initiative, noting “It is vital that Leagues and credit unions THANK SEN. LIEBERMAN IMMEDIATELY with e-mails to him and faxes to his office.”
CUNA has made responding to this call to action from Mica convenient and easy through the Cap Wiz tool on the CUNA Web site.
Go to the Cap Wiz page and select “Thank Sen. Lieberman.” You will be presented with some points to include in your personalized e-mail. Fill in the blanks, click on some buttons – and you will have thanked the senator from Connecticut! If you prefer to fax your letter, the fax number is (202) 224-9750.
Make New Mexico voices heard!
SIlver Star Gala June 6
6 P.M. - Cocktails/Cash Bar
7 P.M. - Dinner and Entertainment
$75 per person
This year’s Silver Star Gala marks the fourth year that the Credit Unions in New Mexico have continued to raise $1 million over a five year plan for a new 24-hour pediatric emergency unit at UNM Children’s Hospital. So far, credit unions have raised more than $649,000. The state-of-the-art pediatric emergency unit opened in 2007, and provides the highest level of care by some of the top pediatric specialists in the nation. UNM Children’s Hospital treats more than 57,000 children and premature infants a year from every county in New Mexico, including 98 percent of New Mexico’s child cancer patients. Keeping with the credit union philosophy of helping our members and the communities they live in, The Credit Union Association of New Mexico and New Mexico’s credit unions are proud to support this important project. Join us for a fun filled evening as we continue to fully equip the pediatric emergency unit.
For more information, go to the CUANM Web site.
February CUANM newsletter
In this month’s newsletter
• 2008 Legislature no threat to CUs
• Celebrate Youth Week in April
• Have you updated your PZC yet?
• NM meets CU House goal
• CMN fund-raising, upcoming events and more…
cuanm_e-newsletter_february_2008.pdf
Share this newsletter. Forward this e-mail, post the newsletter to your credit union intranet or print it out and pass it around.
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January 2008 newsletter
cuanm_e-newsletter_january_2008.pdf
CUANM Network October edition
cuanm_e-newsletter_october_2007(sm).pdf
September newsletter available online
September CUANM Network newsletter
cuanm_e-newsletter_september_2007[sm].pdf
CMG Mortgage first in US to insure portable mortgages
SAN FRANCISCO – CMG Mortgage Insurance Company (CMG MI) has become the first U.S. mortgage insurance (MI) provider to insure portable mortgage loans through its new GO mortgage insurance program.
Mortgage loans featuring a portable option are relatively new in the U.S. market, although they are common in the United Kingdom, Australia and Canada. They allow members with secured mortgage loans to transfer key terms of the loan – like the interest rate – to a new residence, rather than have to apply for a new one at market rates.
CMG MI has launched the GO Program to provide MI for high loan-to-value mortgage loans that carry the portability option. Under the GO Program’s guidelines, at the same time that members transfer the key terms of their original loan to a new property, the ported loan may be eligible for mortgage insurance coverage by CMG MI.
Only purchase loans are eligible for the GO Program coverage. There is no restriction on loan type, as the portability option can be added to any type of mortgage loan the credit union chooses (fixed, adjustable-rate, balloon, etc.).
Working with CMG MI, CUNA Mutual Group’s LOANLINER® Documents has developed for portable mortgages an informational disclosure and addendum for the note. “A key obstacle for credit unions interested in portable mortgages has been the lack of disclosures and documents that meet compliance and operational requirements,” said Bill Klewin, Director of LOANLINER Product.
“We’ve developed an addendum and informational disclosure that cover all states and will be available by request, so credit unions are able to offer this product to members. Portable mortgage documents are a natural extension to our recently-announced new First Mortgage product line within LOANLINER,” Klewin said.
Portable mortgages are a great way to build and strengthen a lifetime relationship with your members, according to Brian Shepherd, Senior Vice President and General Manager of CMG MI. “Americans typically relocate three or more times during their lifetimes, to accommodate careers, marriages, educational opportunities and other significant life changes. No one wants to be penalized with a higher interest rate on their mortgage every time they move.”
First mortgage loans turn over in less than 10 years on average. Credit unions continually face the risk that a member will move and discontinue the relationship as a result of seeking a new mortgage loan for their new property. Portable mortgages allow the member to stay with the credit union that originated their initial home loan and not be lured away by a competitor.
“Our GO mortgage insurance program is designed to support credit unions that want to retain members by offering portable mortgages,” Shepherd said.
CMG Mortgage Insurance Company
Licensed in all states, CMG Mortgage Insurance Company (CMG MI) operates as a joint venture between CUNA Mutual Investment Corporation and PMI Mortgage Insurance Co. The company provides private mortgage guaranty insurance to protect credit unions against potential losses in the event of borrower default. By covering default risk on residential first mortgage loans, CMG MI facilitates the sale of low-down-payment mortgages in the secondary mortgage market and expands homeownership opportunities by enabling credit union members to buy a home with a down payment of less than 20 percent. For more information, visit http://www.cmgmi.com or call (800) 909-4264.
CUNA Mutual Group
CUNA Mutual Group is the leading provider of financial products and services to credit unions and their members worldwide. More information on the company is available on the company’s Web site at www.cunamutual.com.
LOANLINER is the most trusted brand in the credit union marketplace for compliant, easy-to-use lending and deposit document systems, enabling credit unions to process loan and member transactions quickly and easily with the assurance that they are in compliance with regulations. For more information, contact LOANLINER at (800) 356-5012 or learn more by visiting www.loanliner.com.
July e-newsletter
cuanm_e-newsletter_july_2007[small].pdf
Credit unions raise $45,000 for UNM Children’s Hospital
The Credit Union Association of New Mexico and its affiliated credit unions raised $45,000 for the University of New Mexico Children’s Hospital at CUANM’s annual Convention, Silver Star Gala and Silver Star Classic golf tournament.
The credit unions of New Mexico, spearheaded by CUANM, are working to raise $1 million by 2009 for the construction and equipment of the new pediatric emergency unit in the new UNM Hospital addition, which opened to patients in June.
CUANM June newsletter
Read the June CUANM News Network e-newsletter.
cuanm-e-newsletter_june-07-fixed..pdf
International Credit Union Week 2007
Consider the following…
A recent study by the National Council on Economic Education (NCEE) reveals that financial education curriculum has made headway, but still needs improvement.
Key findings from NCEE’s Survey of the States study include:
• Only seven states require students to take a personal finance course before they graduate from high school;
• Only nine states require testing student personal finance knowledge;
• Only 17 states have an economics graduation requirement;
This year we want to celebrate International Credit Union Day by making a difference in your community. And we can’t think of a better way to make that difference than by promoting much-needed financial literacy among our children, the money managers of the future. Please join credit unions across the state and your Credit Union Association of New Mexico this International Credit Union Week in our popular classroom program and help make a difference.
Our International Credit Union Week school program has been immensely popular with teachers, students, parents and credit union representatives. Last year credit unions throughout New Mexico reached about 2,000 New Mexico students in elementary, middle and high schools and taught them about wise money management and the credit union difference. Let’s make this year’s event even more successful.
Our goal is to have volunteers in elementary and middle school classrooms in every New Mexico community served by a credit union during International Credit Union Week October 15-19. This important project will benefit you by elevating the profile of your credit union in your community, it will benefit the credit union movement because you’ll be spreading the credit union philosophy, and it will benefit New Mexico students because you’ll be providing them with much-needed financial education.
Even if you have other activities planned for International Credit Union Day or Week, we urge you to also participate in this statewide effort. We have made it very easy for your credit union to get involved.
CUANM will provide:
• A fun, easy and interactive curriculum that will take about 45 minutes to present. You can either get the curriculum by e-mailing CUANM Communications Coordinator or by downloading the documents below.
• Master handouts to copy and pass out to your students, including paper money, a ‘cash drawer,’ informational handouts and a coloring page.
• Candy rewards to hand out to all of the students. You are welcome to add your own promotional pencils or other incentives and/or provide your own candy. Some school districts discourage candy rewards.
What we need from you is simple:
Please fax or call in your registration by Monday, September 10. After we receive your registration, we will mail you your participation packets and candy. Or you may download the documents below. If you choose to download the documents here, please still send in the registration form so we can track participation and how many students we reach.
Registration form ICU_Week_participation_form_2007.pdf
Schedule your visit with a local school as soon as possible. Or schedule your own event at your credit union. (See Tips for Getting Into the Classroom – included with the participation form above.)
Go to the school the week of October 15-19 to make your presentation and make sure to bring enough paper money and copies of the handouts to provide to all the students.
Thank you in advance for participating in this exciting and important program. All of our participants have discovered the importance of making a difference in children’s financial education, and we’re looking forward to making an even bigger difference for New Mexico’s children during International Credit Union Week 2007.
Curriculum grades 1-5
International_Credit_Union_Week_2007_Grades_1-5.pdf
Curriculum grades 6-8
International_Credit_Union_Week_2007_Grades_6-8_to_e-mail.pdf
‘What is a credit union?’ handout master sheet
What_is_a_credit_union_copy[small].pdf
‘Interest grows’ handout master sheet
interest_grows_copy[small].pdf
Cash drawer master sheet
Cash_Drawer.pdf
$1 master sheet
One_Dollar_Bill.pdf
$5 master sheet
5_sheet.pdf
$10 master sheet
10_sheet.pdf
Coloring page
Coloring_page.pdf
CUANM May e-newsletter
Look out for the Little Guy
New Mexico credit unions have a great opportunity to introduce the “Little Guy” to lawmakers. 
The Little Guy represents working Americans — the people who belong to credit unions. He represents people from all walks of life — including, but not limited to, those of modest means. The Little Guy shows lawmakers where CU priorities stand.
You are urged to visit your state and national lawmakers and to use the Little Guy as a leave-behind to remind them how important credit unions are to their members. You can also mail him to your representatives in Congress to remind them to stand up for credit unions and “look out for the little guy.”
For more information about The Little Guy campaign, go to the CUNA Web site. From that site, you can order Little Guy leave-behinds and 4-foot tall stand-ups perfect for your lobby or offices.
Read more.
CU Aid
Post Your Job Openings on CUANM's Web site
Did you know that your credit union can post job openings on the CUANM Web site? To submit a job, login to the member area or .