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Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
This year has presented unique operational opportunities, as well as a chance to expand SLFCU’s physical and philanthropic footprint.
In early 2020, many members and employees began working from home. Although SLFCU closed its branch lobbies from March through May, we continued to offer every product and service through online and mobile banking, branch drive-ups, and back office business units. Our Contact Center really answered the call this year, interacting with 30 percent more members while reducing wait times to less than two minutes on average.
In addition to the pending merger with Animas Credit Union in the Farmington, New Mexico area, we also began the planning and construction of new branch locations. Our Jefferson branch will move across the street to a much larger location, which will also be a hub of our business lending team and many other services. I am also happy to share we are acquiring a North Valley branch in Albuquerque at 1100 Rio Grande Blvd. NW, very near Interstate 40. We estimate it will be open for service in late 2021.
We helped many of our most vulnerable neighbors this past year through donations to organizations such as Meals on Wheels, the Barrett Foundation, the Rio Grande Food Project, and many more. Overall, SLFCU made $100,000 in grants to New Mexico and California organizations, in addition to $50,000 pledged by our employees to the United Way. I thank every member and employee for their generosity as we exemplify “people helping people.”