Dec, 31, 2023 — OTERO FEDERAL CREDIT UNION is a federal credit union headquartered in ALAMOGORDO, NM with 6 branch locations and about $459.46 million in total assets. Opened 71 years ago in 1953, OTERO FEDERAL CREDIT UNION has about 34,284 members and employs 96 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | OTERO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1200 10th St ALAMOGORDO, NM 88310 |
| Phone: | (575) 434-8500 |
| Fax: | (575) 434-8539 |
| Website: | https://www.oterofcu.org |
| Branches: | 6 branch locations |
| Members: | 34,284 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8475 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $459,461,281 |
| CEO/Manager: | Melene Street |
| Chairperson: | Jocelyn Driscoll-Gillespie |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 38,438,976 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 57,017,570 |
| Unsecured Loans | 15,568,161 |
| Other Loans | 185,864,182 |
| TOTAL LOANS | 258,449,913 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,047,953 |
| Land And Building | 8,695,894 |
| Other Fixed Assets | 2,546,526 |
| NCUSIF Deposit | 3,859,871 |
| All Other Assets | 657,257 |
| TOTAL ASSETS | 459,461,281 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,964,249 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 74,248,019 |
| Regular shares | 187,959,279 |
| All Other Shares & Deposits | 134,173,520 |
| TOTAL SHARES & DEPOSITS | 396,380,817 |
| TOTAL LIABILITIES | 399,345,066 |
| Regular Reserve | 0 |
| Other Reserves | -4,566,415 |
| Undivided Earnings | 64,682,630 |
| TOTAL EQUITY | 60,116,215 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 459,461,281 |
| INCOME & EXPENSE | |
| Loan Income | 12,255,134 |
| Investment Income | 2,891,668 |
| Other Income | 2,373,443 |
| Total Employee Compensation & Benefits | 6,017,057 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,746,065 |
| Non-operating Income & (Expense) | -167,604 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,489,623 |
| Cost of Funds | 3,014,903 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,239,656 |
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