2023-11-14T14:26:45-06:00 2022-12-31 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2022-01-01 856010733 CREDIT UNIONS IN THE STATE OF NEW MEXICO CRED 5059837328 813 ST MICHAELS DRIVE SANTA FE NM 87505 ETHAN HENDRICKSON CHIEF FINANCIAL OFFICER 5059837328 2023-11-14 1 ETHAN HENDRICKSON 999009999 0 MICHAEL J PETERSON CPA P01833529 2187224705 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z STATE EMPLOYEES CREDIT UNION OF NEW MEXICO ANDY RAMOS 813 ST MICHAELS DRIVE SANTA FE NM 87505 48294625 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 7 237 11 0 0 0 1826265 38456742 42926283 1411816 3471761 0 59592 39868558 48283901 0 0 0 0 13562592 14627209 0 0 0 15536296 18522687 29098888 33149896 10769670 15134005 936346148 1068857027 846909191 981525122 89436957 87331905 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 53,073 MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT. 0 1 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 0 0 0 0 0 0 0 0 0 0 1 33909 0 1 237 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 0 X LEYLAND GONZALES 5059837328 813 ST MICHAELS DRIVE SANTA FE NM 87505 JERRY RAEL CHAIR 1.00 X X 0 0 0 JOANNE COPPLER-VIGIL VICE CHAIR 1.00 X X 0 0 0 KENNETH KIRK TREASURER 1.00 X X 0 0 0 VIRGINIA HENDLEY SECRETARY 1.00 X X 0 0 0 LORRIE LUJAN SECRETARY (THRU 05/22) 1.00 X 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 ANDY RAMOS PRESIDENT/CEO 40.00 X 544438 0 17374 MARK SADOWSKI CHIEF FINANCIAL OFFICER (THRU 01/22) 40.00 X 37573 0 1353 SCHWAN HARDI CHIEF FINANCIAL OFFICER 40.00 X 45979 0 0 EMILIO ATENCIO CHIEF LENDING OFFICER 40.00 X 187558 0 33562 DEBORAH SPARKS CHIEF H.R. OFFICER (THRU 04/22) 40.00 X 262173 0 10676 KYLE MOORE SVP MARKETING & COMMUNITY 40.00 X 132904 0 38655 MARIA SUAZO SVP RETAIL ENGAGEMENT 40.00 X 128386 0 39446 LINDSAY JONES EVP CHIEF OPERATIONS OFFICER 40.00 X 241826 0 30479 WILLIAM THORN CHIEF PEOPLE OFFICER 40.00 X 191936 0 26252 EDWARD CHRISTIANS EVP CHIEF INFORMATION OFFICER 40.00 X 253776 0 24241 SANDRA LOPEZ SVP BOARD ENGAGEMENT 40.00 X 125175 0 2831 MAIRGHREAD CADIZ SVP COMMUNITY AND BUSINESS DEV 40.00 X 77364 0 9576 HAROLD DIXON DIRECTOR OF PROJECT MANAGEMENT 40.00 X 446268 0 28571 RYAN KLINKRODT VP OF COMMERICALLENDING 40.00 X 143545 0 36043 DARLENE VIGIL ASST. VP/RE LOAN MANAGER 40.00 X 123146 0 27124 MARK SALAZAR AVP/INDIRECT LOAN MANAGER 40.00 X 121848 0 26203 QUENTIN SMITH VP FINANCE AND ACCOUNTING 40.00 X 112613 0 23819 3176508 0 376205 17 0 1 0 JIM DIXON CONSTRUCTION 280 DEL NORTE COURT BOSQUE FARMS NM 87068 CONSTRUCTION 7251619 FISERV INC 75 REMITTANCE DR CHICAGO IL 60675 BANKING PRODUCTS & SERVICES 902516 KASASA LTD PO BOX 527 LUBBOCK TX 79408 BANKING PRODUCTS & SERVICES 602506 PHOENIX SECURITY 1355 ACEQUIA BORRADA SANTA FE NM 87507 SECURITY 362681 EL QUETZAL 1013 DON DIEGO AVE SANTA FE NM 87505 JANITORIAL SERVICES 248297 13 1826265 1826265 INTEREST ON LOANS RECEIVABLE 522100 30316301 30316301 FEES AND SERVICE CHARGES 522100 6569377 6569377 NON INTEREST INCOME 900099 6040605 6040605 42926283 3477208 3477208 59592 0 59592 59592 59592 5277 0 10724 5277 -10724 -5447 -5447 48283901 42926283 0 3531353 2455772 8901962 305833 2164357 799285 69833 60000 3081070 688807 656778 277661 645587 136654 285107 1836451 763428 123049 DIVIDENDS ON MEMBER SHA 7967377 PROVISION FOR LOAN LOSS 1203535 LOAN SERVICING EXPENSE 336654 STATE EXAM FEES 136654 254042 33149896 5430126 7995846 96848195 66333044 1699595 2152846 4359016 14305162 622205011 809075598 0 900271 37594244 9705111 17179021 27889133 6752293 4956570 156887629 109191009 24985262 26057548 936346148 1068857027 11170230 10644517 835738961 970880605 846909191 981525122 X 0 0 0 0 89436957 87331905 89436957 87331905 936346148 1068857027 X 15134005 -15523178 -1715879 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7522382 7522382 14331455 5791955 8539500 4504197 3913156 591041 11236210 11236210 27889133 AVAILABLE-FOR-SALE DEBT SECURITIES 109191009 F 109191009 SHARES AND DEPOSITS 890880605 LINE OF CREDIT 80000000 970880605 48294625 0 48294625 -10724 -10724 48283901 33160620 10724 10724 33149896 0 33149896 PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF REPOSSESSED COLLATERAL INCLUDED AS EXPENSE IN AUDITED FS -10,724. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF REPOSSESSED COLLATERAL INCLUDED AS EXPENSE IN AUDITED FS 10,724. X X X 1 1 0 ANDY RAMOS PRESIDENT/CEO 453618 0 75216 0 15604 0 0 0 17374 0 561812 0 0 0 HAROLD DIXON DIRECTOR OF PROJECT MANAGEMENT 441631 0 0 0 4637 0 10675 0 17896 0 474839 0 0 0 EDWARD CHRISTIANS EVP CHIEF INFORMATION OFFICER 241604 0 11631 0 541 0 8077 0 16164 0 278017 0 0 0 DEBORAH SPARKS CHIEF H.R. OFFICER (THRU 04/22) 60706 0 0 0 201467 0 2245 0 8431 0 272849 0 0 0 LINDSAY JONES EVP CHIEF OPERATIONS OFFICER 225733 0 15552 0 541 0 13015 0 17464 0 272305 0 0 0 EMILIO ATENCIO CHIEF LENDING OFFICER 176047 0 9228 0 2283 0 31829 0 1733 0 221120 0 0 0 WILLIAM THORN CHIEF PEOPLE OFFICER 180214 0 11239 0 483 0 4887 0 21365 0 218188 0 0 0 RYAN KLINKRODT VP OF COMMERICALLENDING 139734 0 2136 0 1675 0 23357 0 12686 0 179588 0 0 0 KYLE MOORE SVP MARKETING & COMMUNITY 120597 0 10963 0 1344 0 16716 0 21939 0 171559 0 0 0 MARIA SUAZO SVP RETAIL ENGAGEMENT 116734 0 10395 0 1257 0 16582 0 22864 0 167832 0 0 0 DARLENE VIGIL ASST. VP/RE LOAN MANAGER 116053 0 4941 0 2152 0 17053 0 10071 0 150270 0 0 0 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. REGIONAL BANKING AND CREDIT UNION SALARY SURVEYS, AS WELL AS OTHER PEER GROUP STUDIES AND CONSULTANCY, IS USED TO INFORM RECOMMENDATIONS FOR CEO REMUNERATION. PART I, LINES 4A-B HAROLD DIXON, MARK SADOWSKI AND ANDY RAMOS PARTICIPATED IN A SPLIT-DOLLAR LIFE INSURANCE PLAN DURING 2022. SEE SCHEDULE L, PART II FOR FURTHER DETAIL. IN ADDITION, THE CREDIT UNION MAINTAINS 457(F) PLANS FOR THE FOLLOWING OFFICERS AND KEY POSITIONS/PERSON AS FOLLOWS. THE AMOUNT OF DEFERRALS DURING THE YEAR TO EACH PARTICIPATING LISTED INDIVIDUAL IS: EMILIO ATENCIO - $26,198 KYLE MOORE - $12,244 MARIA SUAZO - $12,244 RYAN KLINKRODT - $18,283 DARLENE VIGIL - $12,803 THERE WERE NO DISTRIBUTIONS FROM THE PLAN DURING 2022. IN 2022, DEBROAH SPARKS RECEIVED A SEVERANCE PAYMENT OF $200,000. HAROLD DIXON FORMER PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 3600000 4616653 0 1 1 MARK SADOWSKI CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 770000 818162 0 1 1 ANDY RAMOS PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 8800000 8870347 0 1 1 14305162 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 EMPLOYEES AND VOLUNTEERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSURE FORM AT THEIR EMPLOYMENT, AS WELL AS TO COMPLETE A NEW FORM ANNUALLY AND DISCLOSE ANY NEW CONFLICTS OR POSSIBLE CONFLICTS SHOULD THEY EXIST. THIS IS OVERSEEN BY THE HUMAN RESOURCES DEPARTMENT, SUPERVISORY COMMITTEE, AND BOARD OF DIRECTORS AS APPLICABLE (BOARD AND SUPERVISORY FOR THE REVIEW OF SENIOR MANAGEMENT AND CONFLICTS OF INTEREST, AND HUMAN RESOURCES FOR THE REVIEW OF STAFF/ADMINISTRATIVE MANAGEMENT OF CONFLICTS OF INTEREST). THE POLICY APPLIES TO ALL EMPLOYEES, BOARD OF DIRECTORS, AND SUPERVISORY COMMITTEE MEMBERS. ACTUAL CONFLICTS OF INTEREST, AS WELL AS POSSIBLE CONFLICTS OF INTEREST, ARE REVIEWED FROM THE PERSPECTIVE OF PERSONAL AND/OR FINANCIAL INTEREST OR BENEFIT THAT MAY BE OBTAINED BY THE EMPLOYEE IDENTIFYING THE POSSIBLE OR ACTUAL CONFLICT OF INTEREST. IN SUCH CASES, THE EMPLOYEE WITH THE STATED CONFLICT WILL ABSTAIN FROM ANY DISCUSSION OR VOTE INVOLVING THE MATTER OF THE CONFLICT OF INTEREST. THE PRESIDENT/CEO IS RESPONSIBLE FOR THE MANAGEMENT OF ANY CONFLICT OF INTEREST ISSUES THAT MAY ARISE IN THE WORKPLACE. 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 A COMBINATION OF INDIVIDUAL AND ORGANIZATIONAL PERFORMANCE, IN ADDITION TO CONDUCTING ANNUAL SALARY AND TOTAL COMPENSATION STUDIES WITH RELEVANT PEER GROUPS (FINANCIAL SERVICES, CREDIT UNIONS). FURTHER, THE CREDIT UNION ESTABLISHES COMPENSATION LEVELS FOR EACH CREDIT UNION POSITION THROUGH AN INTERNAL LEVELING AND GRADING PROCESS TO ENSURE MARKET ALIGNMENT WITH INTERNAL PARITY. COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION IS BASED UPON EVALUATION OF A COMBINATION OF THEIR EDUCATION, EXPERIENCE, SKILLS AND COMPETENCIES THEREIN. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE FOR REVIEW ON REQUEST AT THE CREDIT UNION'S MAIN OFFICE. 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 -1,715,879.