All information about Animas Credit Union in Farmington, NM
| Address: | 3850 E Main St, Farmington, NM 87402 |
| Phone: | (505) 326-7701 |
| Site: | http://animascu.com |
About Animas Credit Union Animas Credit Union is a cooperative, not-for-profit financial institution chartered by the State of New Mexico. It is owned and controlled by its members and organized to promote thrift, provide credit and other financial services. Since it is a cooperative, a credit union is not owned by a company, an individual, or by some distant corporation. It is owned by its members. This is what distinguishes the Credit Union from other financial institutions. Members put their money in a variety of savings accounts called shares, and that money, in turn, is lent to members. After operating expenses and reserve requirements are met, loan income is returned to all members in the form of dividends and comprehensive financial services.Credit unions have helped people build a better life through savings, loans and other transaction services for over 100 years. They have improved the economic well-being of their members not only in this country, but also in over 70 countries in the world.Animas Credit Union is governed by a volunteer Board of Directors that establishes and reviews policy. The Directors are Credit Union members who are elected by the membership and serve without pay. Every member has one vote, regardless of how much he or she has on deposit. At the Credit Union, there is no select group of shareholders that profits more than anyone else. All members profit - - individually and collectively. A Short History of Animas Credit UnionThe Regular Employees of El Paso Natural Gas Company Credit Union was the original name under which Animas Credit Union was known. The Credit Union was chartered on September 21, 1956. On this date, eight petitioners were granted approval by the State of New Mexico Financial Institutions Division to form a credit union. These eight petitioners were D.M. DeRusha, W.Vance Garret, A.J. Dudenhoeffer, K.C. McBride, Lewis D. Galloway, Glen R. Hare, R.L. Weir and J.H. Jones. The original mission of The Regular Employees of El Paso Natural Gas Company was to form a state chartered credit union to serve those individuals having a common bond of association, occupation, or residence as follows: Regular Employees of El Paso Natural Gas Company, members of their families, employees of this Credit Union and associations of members.On May 6, 1960, The Regular Employees of El Paso Natural Gas Company Credit Union became recognized under the name of Animas Credit Union. The Credit Union had assets totaling $87, 847.95 with 453 accounts and 599 loans totaling $194, 907.34. With this name change came changes and amendments to our bylaws affecting our field of membership. Membership in this Credit Union shall be limited to those having a common bond of association, occupation or residence as follows: Employees and retirees of the El Paso company, El Paso Natural Gas Company, their subsidiary companies, Meridian Oil Company, Southern Union Processing Company, Animas Credit Union and individuals who reside or work in San Juan County, New Mexico, and members or their families.