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Nonprofit · EIN 85-0161080

CREDIT UNIONS IN THE STATE OF NEW MEXICO

Also known as FINANCIAL SECURITY CU

Tax-exempt · CARLSBAD, NM 88220

Financials

$3.7M$2.8M2023$4.3M$3.3M2024
Revenue Expenses · by fiscal year end
Financials of CREDIT UNIONS IN THE STATE OF NEW MEXICO by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$4,273,885$3,332,159$941,726$58,141,403$48,828,067$9,313,336
December 31, 2023990$3,728,717$2,841,172$887,545$59,797,422$51,832,777$7,964,645
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$3,913,421
Investment income
$64,013
Net gain from sales of assets
$64,013
Other revenue
$296,451

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$149,973
Other salaries and wages
$759,112
Salaries, compensation and benefits (total)
$1,179,485
Professional fundraising fees
$0
Occupancy
$80,552
Depreciation
$128,169

Balance sheet and other

Total assets, start of year
$59,797,422
Total assets, end of year
$58,141,403
Total liabilities, end of year
$48,828,067
Net assets, end of year
$9,313,336
Land, buildings and equipment
$3,160,750
Gross unrelated business income
$20,922
Gross receipts
$4,275,351
Employees
25
Volunteers
8
Year formed
1954
State of legal domicile
NM

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
JUDY CARRASCOCEO
Officer
40$149,973
JASON CROCKETTMEMBER
Trustee or director, Officer
2$0
MISTI FERNANDEZSECRETARY
Trustee or director, Officer
2$0
KAY TIGERTTREASURER
Trustee or director, Officer
2$0
RILEY NEATHERLINCHAIRMAN
Trustee or director, Officer
2$0
VICTOR MARTINEZVICE CHAIRMAN
Officer
2$0
990 for the year ended December 31, 2023: 7 people
NameTitleHours / weekCompensation
JUDY CARRASCOCEO
Officer
40$149,474
KATHERINE NAVARRETTEVP OPERATIONS
Officer
40$118,181
JASON CROCKETTCHAIRPERSON
Trustee or director, Officer
2$0
MISTI FERNANDEZVICE CHAIRPERSON
Trustee or director, Officer
2$0
KAY TIGERTTREASURER
Trustee or director, Officer
2$0
RILEY NEATHERLINSECRETARY
Trustee or director, Officer
2$0
VICTOR MARTINEZDIRECTOR
Trustee or director
2$0

Address and contacts

Address (IRS master file)
1105 W PIERCE ST, CARLSBAD, NM 88220-4014
In care of
% JUDY CARRASCO
Principal officer (990 for 2024)
JUDY CARRASCO, 1105 WEST PIERCE, CARLSBAD, NM 88220
Signed the 990
JUDY CARRASCO, CEO
Phone
(575) 887-6030
Return prepared by
PARKS & COMPANY PLC

Mission

SEE PART I, NUMBER 1

990 for the year ended December 31, 2024

Program accomplishments

  • THE CREDIT UNION PROVIDED MEMBERS A VARIETY OF BANKING SERVICES INCLUDING LOANS AT RATES BELOW THOSE OFFERED BY TRADITIONAL FINANCIAL INSTITUTIONS.
  • THE CREDIT UNION RETURNED EARNINGS OF APPROXIMATELY $375,000 IN THE FORM OF INTEREST/DIVIDENDS TO ITS MEMBERS.
  • THE CREDIT UNION INCREASED THE MEMBERS' EQUITY POSITION BY APPROXIMATELY $941,000.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
85-0161080
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1973
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$58,141,403
Income (IRS master file)
$4,275,351

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$4,273,885$3,332,159$58,141,403IRS
990December 2023$3,728,717$2,841,172$59,797,422XML
990December 2022$3,190,623$2,584,154$59,542,140IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0161080).

Questions about CREDIT UNIONS IN THE STATE OF NEW MEXICO

What is the EIN of CREDIT UNIONS IN THE STATE OF NEW MEXICO?
The employer identification number (EIN) of CREDIT UNIONS IN THE STATE OF NEW MEXICO is 85-0161080.
Is CREDIT UNIONS IN THE STATE OF NEW MEXICO tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1973.
Are donations to CREDIT UNIONS IN THE STATE OF NEW MEXICO tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does CREDIT UNIONS IN THE STATE OF NEW MEXICO file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of CREDIT UNIONS IN THE STATE OF NEW MEXICO due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did CREDIT UNIONS IN THE STATE OF NEW MEXICO last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of CREDIT UNIONS IN THE STATE OF NEW MEXICO?
The 990 for the year ended December 31, 2024 names JUDY CARRASCO.
Who are the officers and directors of CREDIT UNIONS IN THE STATE OF NEW MEXICO?
The 990 for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $149,973 (JUDY CARRASCO, CEO).
How much revenue does CREDIT UNIONS IN THE STATE OF NEW MEXICO have?
On its 990 for the year ended December 31, 2024 it reported revenue of $4,273,885, expenses of $3,332,159 and total assets of $58,141,403 at year end.

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