Annual Report 2019
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Credit unions share a philosophy of “people helping people.” In 2019, SLFCU exemplified this commitment in many ways. Highlights of the past year include giving back $20,000,000 to our members via a special dividend – the largest in our history. Additionally, we supported the New Mexico Credit Unions Connected Academy (NMCUCA), and raised $80,000 to help hire a full-time teacher for patients at UNM Children’s Hospital. A very special thank you goes to our members and employees who contributed to more than 25 NMCUCA fundraising activities over the past year. Our commitment to this important cause will continue in 2020 and beyond.
Financially and operationally, 2019 was a solid year of growth for the Credit Union. The right people, strategies, and systems are in place to maintain and build upon our secure, strong institution. We surpassed $2.6 billion in total assets and opened a branch on Jefferson in Albuquerque – our eleventh location. Validating that we’re making a positive difference in our members’ lives, SLFCU was also ranked the #1 credit union in New Mexico by Forbes.
SLFCU is dedicated to offering high-value products, outstanding personal service, and educational resources that support the financial success of our more than 109,000 members. As we move into a new decade, we will continue to expand our offerings while remaining true to these principles. Today’s world offers an ever-growing number of financial service options. We thank our members for their ongoing trust in our ability to serve their needs.
Read more in the 2019 SLFCU Annual Report, which will be available at any branch beginning February 21.
| Financial Highlights | 2019 | 2018 |
| Total Assets | $2,634,465,000 | $2,548,765,000 |
| Loans | 1,436,277,000 | 1,362,059,000 |
| Investments | 1,018,050,000 | 986,575,000 |
| Members' Share Accounts | 2,324,915,000 | 2,264,167,000 |
| Reserves and Undivided Earnings | 303,751,000 | 299,671,000 |
| Gross Income | 92,945,000 | 86,569,000 |
| Dividends Earned by Members Including Special Dividends | 37,182,000 | 14,627,000 |
| Dividends Earned by Members Excluding Special Dividends | 17,182,000 | 14,627,000 |
| Net Income Including Special Dividends | 5,094,000 | 22,403,000 |
| Net Income Excluding Special Dividends | 25,094,000 | 22,403,000 |
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