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Many of SLFCU’s branch lobbies have re-opened for member service with additional safety precautions. Kirtland and Livermore East remain closed. Learn more. To read more about how COVID-19 is affecting SLFCU, click here.

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Annual Report 20191/29/2020

Powered by Commitment

Credit unions share a philosophy of “people helping people.” In 2019, SLFCU exemplified this commitment in many ways. Highlights of the past year include giving back $20,000,000 to our members via a special dividend – the largest in our history. Additionally, we supported the New Mexico Credit Unions Connected Academy (NMCUCA), and raised $80,000 to help hire a full-time teacher for patients at UNM Children’s Hospital. A very special thank you goes to our members and employees who contributed to more than 25 NMCUCA fundraising activities over the past year. Our commitment to this important cause will continue in 2020 and beyond.

Financially and operationally, 2019 was a solid year of growth for the Credit Union. The right people, strategies, and systems are in place to maintain and build upon our secure, strong institution. We surpassed $2.6 billion in total assets and opened a branch on Jefferson in Albuquerque – our eleventh location. Validating that we’re making a positive difference in our members’ lives, SLFCU was also ranked the #1 credit union in New Mexico by Forbes.

SLFCU is dedicated to offering high-value products, outstanding personal service, and educational resources that support the financial success of our more than 109,000 members. As we move into a new decade, we will continue to expand our offerings while remaining true to these principles. Today’s world offers an ever-growing number of financial service options. We thank our members for their ongoing trust in our ability to serve their needs.

Read more in the 2019 SLFCU Annual Report, which will be available at any branch beginning February 21.

 
Financial Highlights 2019 2018
Total Assets $2,634,465,000 $2,548,765,000
Loans 1,436,277,000 1,362,059,000
Investments 1,018,050,000 986,575,000
Members' Share Accounts 2,324,915,000 2,264,167,000
Reserves and Undivided Earnings 303,751,000 299,671,000
Gross Income 92,945,000 86,569,000
Dividends Earned by Members Including Special Dividends 37,182,000 14,627,000
Dividends Earned by Members Excluding Special Dividends 17,182,000 14,627,000
Net Income Including Special Dividends 5,094,000 22,403,000
Net Income Excluding Special Dividends 25,094,000 22,403,000

 



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