2023-03-30T12:25:33-05:00 2021-12-31 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2021-01-01 856010733 CREDIT UNIONS IN THE STATE OF NEW MEXICO CRED 5059837328 813 ST MICHAELS DRIVE SANTA FE NM 87505 SCHWAN HARDI EVP CHIEF FINANCIAL OFFICER 5059837328 2023-03-30 1 SCHWAN HARDI 999009999 MICHAEL J PETERSON CPA P01833529 2187224705 2023-03-30 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z STATE EMPLOYEES CREDIT UNION OF NEW MEXICO ANDY RAMOS 813 ST MICHAELS DRIVE SANTA FE NM 87505 39975182 0 X WWW.SECUNM.ORG X 1958 NM NEW MEXICO STATE-CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT 7 7 219 7 0 0 0 0 35430407 38456742 732249 1411816 0 0 36162656 39868558 0 0 0 0 11990978 13562592 0 0 0 15636449 15536296 27627427 29098888 8535229 10769670 818466093 936346148 739161057 846909191 79305036 89436957 NEW MEXICO STATE-CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT. 0 0 NEW MEXICO STATE-CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS 50,648 MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 29650 0 1 219 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 1 1 X X THE ORGANIZATION 5059837328 813 ST MICHAELS DRIVE SANTA FE NM 87505 JERRY RAEL CHAIR 1.00 X 0 0 0 JOANNE COPPLER-VIGIL VICE CHAIR 1.00 X 0 0 0 LORRIE LUJAN SECRETARY 1.00 X 0 0 0 KENNETH KIRK TREASURER 1.00 X 0 0 0 ROSEMARY WICKARD DIRECTOR 1.00 X 0 0 0 MICHAEL DURAN DIRECTOR 1.00 X 0 0 0 PAMELA GONZALES DIRECTOR 1.00 X 0 0 0 HAROLD K DIXON PRESIDENT/CEO (THRU 06/21) 40.00 X 440002 0 31001 ANDY RAMOS PRESIDENT/CEO 40.00 X 257691 0 8985 MARK SADOWSKI CHIEF FINANCIAL OFFICER 40.00 X 179261 0 16942 RICHARD SCHAEFER CHIEF INFORMATION SYSTEMS OFFICER 40.00 X 331901 0 17228 EMILIO ATENCIO CHIEF LENDING OFFICER 40.00 X 176324 0 5103 DEBORAH SPARKS CHIEF HUMAN RESOURCE OFFICER 40.00 X 170674 0 20953 KYLE MOORE VICE PRESIDENT OF MEMBERSHIP EXP. 40.00 X 110800 0 18160 MARIA SUAZO VICE PRESIDENT OF BRANCH OPERATIONS 40.00 X 104875 0 18789 LINDSAY JONES CHIEF OPERATING OFFICER 40.00 X 64125 0 5204 RYAN KLINKRODT VICE PRESIDENT OF COMMERCIAL LENDING 40.00 X 137305 0 20950 DARLENE VIGIL ASSISTANT VP/RE LENDING MANAGER 40.00 X 123267 0 11960 2096225 0 175275 10 0 1 0 JIM DIXON CONSTRUCTION 280 DEL NORTE COURT BOSQUE FARMS NM 87068 CONSTRUCTION 2938765 FISERV INC 75 REMITTANCE DR CHICAGO IL 60675 BANKING PRODUCTS & SERVICES 1147808 KASASA LTD PO BOX 527 LUBBOCK TX 79408 BANKING PRODUCTS & SERVICES 561835 EL QUETZAL 1013 DON DIEGO AVE SANTA FE NM 87505 JANITORIAL SERVICES 209455 DATAPRINT SERVICES LLC 5201 VENICE AVE NE SUITE E ALBUQUERQUE NM 87113 PRINTING & MAILING SERVICES 198326 13 INTEREST ON LOANS RECEIVABLE 522130 26316245 26316245 NON INTEREST INCOME 522130 7262267 7262267 FEES AND SERVICE CHARGES 522130 4878230 4878230 38456742 1370795 1370795 18421 129224 0 106624 18421 22600 41021 41021 39868558 38456742 0 1411816 2279450 7999658 973083 1589065 721336 60416 43484 4229754 665151 1742631 595874 88225 132464 770308 124349 DIVIDENDS 4789105 PROVISION FOR LOAN LOSS 1423714 870821 29098888 6452504 5430126 143832215 96848195 1958526 1699595 4166049 4359016 548119505 622205011 26141726 8962705 17522501 17179021 6680893 6752293 53857913 156887629 35875987 24985262 818466093 936346148 8264232 11170230 730896825 835738961 739161057 846909191 X 0 0 0 0 79305036 89436957 79305036 89436957 818466093 936346148 X 10769670 -2105034 1467285 X 0 1 X 1 0 7522382 7522382 14313247 5269166 9044081 4306097 3693539 612558 17179021 FEDERAL AGENCY SECURITIES 22502945 F FEDERAL MORTGAGE BACKED SECURITIES 133625489 F CERTIFICATES OF DEPOSIT 759190 F CORPORATE CREDIT UNION SHARES 5 C 156887629 SHARES AND DEPOSITS 835738961 835738961 39868558 0 39868558 0 39868558 29098888 0 29098888 0 29098888 X X 0 1 0 HAROLD K DIXON PRESIDENT/CEO (THRU 06/21) 437075 0 977 0 1950 0 15016 0 15985 0 471003 0 0 0 RICHARD SCHAEFER CHIEF INFORMATION SYSTEMS OFFICER 329477 0 2424 0 0 0 7701 0 9527 0 349129 0 0 0 ANDY RAMOS PRESIDENT/CEO 236924 0 14767 0 6000 0 0 0 8985 0 266676 0 0 0 MARK SADOWSKI CHIEF FINANCIAL OFFICER 170615 0 8646 0 0 0 6007 0 10935 0 196203 0 0 0 DEBORAH SPARKS CHIEF HUMAN RESOURCE OFFICER 162784 0 7890 0 0 0 5950 0 15003 0 191627 0 0 0 EMILIO ATENCIO CHIEF LENDING OFFICER 167174 0 9150 0 0 0 3865 0 1238 0 181427 0 0 0 RYAN KLINKRODT VICE PRESIDENT OF COMMERCIAL LENDING 130301 0 7004 0 0 0 4709 0 16241 0 158255 0 0 0 PART I, LINE 4B HAROLD DIXON AND MARK SADOWSKI PARTICIPATED ON A SPLIT-DOLLAR LIFE INSURANCE PLAN DURING 2021. SEE SCHEDULE L, PART II FOR FURTHER DETAIL. SCHEDULE J, PART I, LINE 3 A COMMITTEE OF THE BOARD OF DIRECTORS MEETS ANNUALLY TO REVIEW THE PERFORMANCE OF THE PRESIDENT/CEO AND DETERMINE ANY MARKET OR MERIT INCREASE. THE CEO HAS A WRITTEN CONTRACT WITH THE BOARD OF DIRECTORS WITH A DISCRETE TERM. HAROLD DIXON FORMER PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 3600000 3585262 0 1 1 MARK SADOWSKI CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 770000 773754 0 1 1 4359016 MATTHEW SCHAEFER FAMILY MEMBER OF OFFICER 56678 EMPLOYEE COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED AND GOVERNED BY ITS MEMBERS. MEMBERS OWN SHARES, ELECT BOARD MEMBERS AND VOTE ON ISSUES SUCH AS MERGERS AND CHARTER CONVERSIONS. BOARD AND MANAGEMENT DECISIONS AFFECT THE FEES MEMBERS PAY, INTEREST RATES THEY ARE CHARGED FOR LOANS, SERVICES THE CREDIT UNION OFFERS AND WHETHER MEMBERS RECEIVE DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION IS OWNED AND GOVERNED BY ITS MEMBERS, WHO OWN SHARES AND ELECT BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION IS GOVERNED BY ITS MEMBERS, WHO VOTE ON ISSUES SUCH AS MERGERS AND CHARTER CONVERSIONS. FORM 990, PART VI, SECTION B, LINE 11B THE INFORMATION REPORTED ON THE 990 WAS ACCUMULATED BY INTERNAL ACCOUNTING STAFF AND PROVIDED TO A PAID PREPARE TO ASSEMBLE. A DRAFT OF THE 990 IS PROVIDED TO MANAGEMENT FOR REVIEW PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE SUPERVISORY COMMITTEE MONITORS AND ENFORCES COMPLIANCE WITH THE POLICY. EMPLOYEES ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT AND AGREEMENT STATEMENT WHEN PROVIDED WITH THE CREDIT UNION'S EMPLOYEE HANDBOOK AT THE TIME OF HIRE. FORM 990, PART VI, SECTION B, LINE 15A AN ANNUAL REVIEW OF THE PERFORMANCE OF THE PRESIDENT/CEO IS CONDUCTED BY THE BOARD OF DIRECTORS. IT ALSO SETS THE SALARY AND BENEFITS OF THE PRESIDENT/CEO BASED ON PERFORMANCE AND REVIEWS SALARY COMPARABLE TO OTHER CREDIT UNION. THE CREDIT UNION ESTABLISHES COMPENSATION LEVELS FOR EACH CREDIT UNION POSITION. COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION IS BASED UPON EVALUATION, EMPLOYEE'S SALARY HISTORY, SKILLS AND EXPERIENCE. FORM 990, PART VI, SECTION C, LINE 18 AVAILABLE FOR REVIEW ON REQUEST AT THE CREDIT UNION'S MAIN OFFICE. FORM 990, PART VI, SECTION C, LINE 19 CREDIT UNION MEMBERS CAN OBTAIN INFORMATION ABOUT THEIR CREDIT UNION BY ATTENDING THE ANNUAL MEETING FOR THE MEMBERSHIP, SPECIFICALLY REQUESTING INFORMATION FROM THE CREDIT UNION, READING CREDIT UNION PUBLICATIONS AND ACCESSING INFORMATION ON THEIR CREDIT UNION'S WEBSITE. FORM 990, PART XI, LINE 9: NET CHANGE IN DEFINED BENEFIT OBLIGATION 1,467,285. ON NOVEMBER 14, 2022 THE ORGANIZATION PAPER FILED THEIR RETURN, PRIOR TO THE DEADLINE OF NOVEMBER 15, 2022. THEIR RECORDS SHOW IT WAS DELIVERED TO THE IRS ON 11/17/2022 AND PROCESSED ON DECEMBER 1, 2022. THE ORGANIZATION HAD PREVIOUSLY FILED THEIR OWN TAX RETURNS AND MISUNDERSTOOD THE NEW E-FILING MANDATE. AFTER RECEIVING THE IRS NOTICE DATED FEBRUARY 02, 2023 IT WAS CLEAR THEY NEEDED TO ADDRESS E-FILING THE RETURN. SINCE THEN THEY HIRED A CPA FIRM TO ASSIST TO E-FILE THEIR 2021 TAX RETURN AND PROVIDE PROFESSIONAL TAX SERVICES GOING FORWARD. THE ORGANIZATION HOPES THE RECORD OF TIMELY FILING IN PRIOR YEARS AND GOOD FAITH ATTEMPTS TO FILE THEIR 2021 RETURN TIMELY (ALBEIT VIA PAPER FILING) BE RECOGNIZED AS TIMELY AND ALL PENALTIES AND INTEREST ABATED.