2025-11-12T16:48:22-06:00 2024-12-31 393647910 WIPFLI ADVISORY LLC 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2024-01-01 856010733 STATE EMPLOYEES CREDIT UNION STAT 5059837328 1611 CALLE LORCA DRIVE SANTA FE NM 87505 ETHAN HENDRICKSON CHIEF FINANCIAL OFFICER 5059837328 2025-11-12 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2025-11-12 2024 2025-03-06 01:10:19Z X STATE EMPLOYEES CREDIT UNION OF NEW MEXICO ANDY RAMOS 1611 CALLE LORCA DRIVE SANTA FE NM 87505 70788124 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 7 261 10 0 0 0 0 53482611 62031156 4818724 8663880 83286 93088 58384621 70788124 0 0 15951608 20566888 16186914 17587438 0 0 0 15813086 26034947 47951608 64189273 10433013 6598851 1149326046 1255970945 1049871664 1145027070 99454382 110943875 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 52,954 MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT. 0 0 0 0 0 0 0 1 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 41662 0 1 261 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 ETHAN HENDRICKSON 5059837328 1611 CALLE LORCA DRIVE SANTA FE NM 87505 JERRY RAEL CHAIR 1.00 X X 0 0 0 JOANNE VIGIL-COPPLER VICE CHAIR 1.00 X X 0 0 0 KENNETH KIRK TREASURER 1.00 X X 0 0 0 PAMELA GONZALES SECRETARY 1.00 X X 0 0 0 MICHAEL DURAN DIRECTOR 1.00 X 0 0 0 VIRGINIA HENDLEY DIRECTOR 1.00 X 0 0 0 ROSEMARY WICKARD DIRECTOR 1.00 X 0 0 0 ANDY RAMOS PRESIDENT/CEO 40.00 X 689967 0 21347 ETHAN HENDRICKSON CHIEF FINANCIAL OFFICER 40.00 X 222640 0 15464 LINDSAY JONES EVP CHIEF OPERATIONS OFFICER 40.00 X 328222 0 29735 EDWARD CHRISTIANS EVP CHIEF INFORMATION OFFICER 40.00 X 316737 0 32362 EMILIO ATENCIO CHIEF LENDING OFFICER 40.00 X 229137 0 225568 WILLIAM THORN CHIEF PEOPLE OFFICER 40.00 X 253269 0 39644 RYAN KLINKRODT VP COMMERCIAL LENDING 40.00 X 164770 0 81115 MARIA SUAZO SVP RETAIL ENGAGEMENT 40.00 X 169650 0 81093 DARLENE VIGIL AVP REAL ESTATE (THRU 02/25) 40.00 X 213483 0 16089 BEATRICE MEDINA SVP ENTERPRISE RISK (THRU 06/25) 40.00 X 148548 0 6190 KYLE MOORE SVP MARKETING & COMMUNITY 40.00 X 147234 0 79336 2883657 0 627943 24 0 1 0 FISERV INC 75 REMITTANCE DR CHICAGO IL 60675 BANKING PRODUCTS & SERVICES 2622878 CORELATION INC 2305 HISTORIC DECATUR RD SAN DIEGO CA 92106 BANKING PRODUCTS & SERVICES 1600548 KASASA LTD PO BOX 527 LUBBOCK TX 79408 BANKING PRODUCTS & SERVICES 676312 APITURE INC 1805 TIBURON DR WILMINGTON NC 28403 BANKING PRODUCTS & SERVICES 507361 SAMAHA & ASSOCIATES 650 WEST AVE UNIT 3011 MIAMI BEACH FL 33139 CONSULTING SERVICES 359978 27 INTEREST ON LOANS RECEIVABLE 522100 48560329 48560329 NON INTEREST INCOME 900099 7124917 7124917 FEES AND SERVICE CHARGES 522100 6345910 6345910 62031156 8656268 8656268 93088 0 93088 93088 93088 7612 0 7612 7612 7612 70788124 62031156 0 8756968 X 20566888 2404092 11827934 371887 2096536 886989 352976 60883 7046593 680330 874169 452056 918505 205950 297250 696166 1311816 163988 PROVISION FOR LOAN LOSS 7810331 ATM EXPENSE 1916426 CREDIT CARD EXPENSE 610893 LOAN SERVICING EXPENSE 591487 2045128 64189273 7970138 8791385 89648484 198069814 3157541 3092545 14967769 17471129 876532297 873087231 1531400 3123878 42364021 12062431 30681080 30301590 1061620 699100 94913746 88718253 28861971 32616020 1149326046 1255970945 15382974 14596098 319556 388306 1034169134 1130042666 1049871664 1145027070 X 0 0 0 0 99454382 110943875 99454382 110943875 1149326046 1255970945 X 6598851 1856162 3034480 X 0 1 X 1 0 0 1 X 7522382 7522382 28424361 7347953 21076408 88593 38415 50178 6328685 4676063 1652622 30301590 AVAILABLE-FOR-SALE DEBT SECURITIES 88718253 F 88718253 SHARES AND DEPOSITS 1130042666 1130042666 70788124 0 70788124 0 70788124 64189273 0 64189273 0 64189273 PART IV, LINE 2B: THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR TAXES AND INSURANCE AS PART OF THEIR LOAN PROGRAM. X X X 0 1 0 ANDY RAMOS PRESIDENT/CEO 565090 0 112877 0 12000 0 0 0 21347 0 711314 0 0 0 EMILIO ATENCIO CHIEF LENDING OFFICER 207506 0 21631 0 0 0 223241 0 2327 0 454705 0 0 0 LINDSAY JONES EVP CHIEF OPERATIONS OFFICER 286882 0 41340 0 0 0 7195 0 22540 0 357957 0 0 0 EDWARD CHRISTIANS EVP CHIEF INFORMATION OFFICER 276427 0 40310 0 0 0 9822 0 22540 0 349099 0 0 0 WILLIAM THORN CHIEF PEOPLE OFFICER 226252 0 27017 0 0 0 8229 0 31415 0 292913 0 0 0 MARIA SUAZO SVP RETAIL ENGAGEMENT 152472 0 17178 0 0 0 51378 0 29715 0 250743 0 0 0 RYAN KLINKRODT VP COMMERCIAL LENDING 153269 0 11501 0 0 0 52900 0 28215 0 245885 0 0 0 ETHAN HENDRICKSON CHIEF FINANCIAL OFFICER 200324 0 22316 0 0 0 4165 0 11299 0 238104 0 0 0 DARLENE VIGIL AVP REAL ESTATE (THRU 02/25) 130403 0 13080 0 70000 0 4790 0 11299 0 229572 0 70000 0 KYLE MOORE SVP MARKETING & COMMUNITY 134211 0 13023 0 0 0 51121 0 28215 0 226570 0 0 0 BEATRICE MEDINA SVP ENTERPRISE RISK (THRU 06/25) 141828 0 6720 0 0 0 4541 0 1649 0 154738 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, LINE 4B HAROLD DIXON (FORMER PRESIDENT/CEO), MARK SADOWSKI (FORMER CFO), ANDY RAMOS, LINDSAY JONES AND WILLIAM THORN PARTICIPATED IN A SPLIT-DOLLAR LIFE INSURANCE PLAN DURING 2024. 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 - $215,907 KYLE MOORE - $46,225 MARIA SUAZO - $46,225 RYAN KLINKRODT - $46,935 DURING 2024, DARLENE VIGIL RECEIVED A PAYMENT OF $70,000 FROM HER 457(F) PLAN. HAROLD DIXON FORMER PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 3600000 4811919 0 1 1 MARK SADOWSKI FORMER CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 770000 853770 0 1 1 ANDY RAMOS PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 8800000 9436950 0 1 1 LINDSAY JONES EVP/COO SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 12000000 1235734 0 0 1 WILLIAM THORN CHIEF PEOPLE OFFICER SPLIT-DOLLAR LIFE INSURANCE AGREEMENT X 1100000 1132756 0 0 1 17471129 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 PREPARER 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 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE 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 IX, LINE 11G OTHER PROFESSIONAL FEES 7,046,593. FORM 990, PART XI, LINE 9: NET CHANGE IN DEFINED BENEFIT OBLIGATION 3,034,480.