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Land of Enchantment Federal Credit Union Motto: “People Helping People”
“You’re a Member-Not Just a Customer” What is a Credit Union? A credit union is a member-owned, not-for-profit cooperative financial institution formed to permit those in the field of membership specified in its charter to pool their savings, lend them to one another, and own the organization where they save, borrow, and obtain related financial services. Members are united by a common bond and democratically operate the credit union under state or federal regulation. What Are The Objectives Of A Credit Union
Credit union objectives are:
What Is The Credit Union Philosophy?
A. The Foundation of credit union is people helping people. Credit unions are organizations of people, not of money. This is reflected in the democratic structure, process, and control, including one vote per member, regardless of the number of shares.
B. Members are the heart of the credit union. They are the reason for the credit union’s existence. They are the “owners” and the only “customers” of credit unions.
C. The credit union motto, “Not for profit, not for charity, but for service,” captures the essence of the credit union idea.
D. No one person or organization can own a credit union, only the members own the credit union. The members have equal opportunity to use the services as well as to serve as credit union volunteers.
E. The broad, active involvement of unpaid volunteers is the backbone of the credit union movement. Volunteers provide the credit union with leadership, while the chance to participate can offer the volunteer opportunities for personal satisfaction, growth, education and experience.
F. Credit unions place a strong emphasis on the education of members to help them improve their economic condition.
G. The members’ ownership of the credit union is represented by shares, which are equity, not debt. The profits of the credit union are distributed to members as dividends, reduced interest, and/or improved service.
H. Individual credit unions cooperate to form a worldwide movement based on mutual self-help.
Credit unions, by their existence and success, provide a cooperative alternate that offers useful comparison and contrast to the rest of the financial system.
BRINGING THE LAND OF ENCHANTMENT TO YOU!!! For 53 years the Land of Enchantment Federal Credit Union has been serving dedicated, hard working New Mexicans. Membership is open to all employees of the State of New Mexico who work in the following departments: *Department of Human Services *Department of Health *The Environment Department *Children, Youth and Families *Las Vegas Medical Center Membership is also open to employees of Open Hands, Thermo-Electron FKA Eberline Instrument Corp., Santa Fe County Chamber of Commerce, Pink Adobe Restaurant, Insurance Professionals, and Quail Run Associations Inc. Family members and persons retired from any of the above departments or companies are also eligible to join. History
Land of Enchantment Federal Credit Union was chartered in 1950 under the name of “The Welfare Credit Union” and was organized for what is now known as “Human Services Department”. The credit union in this period of time has been operated under several different names to encompass other state agencies that have been included as members of our credit union. The most recent name that the credit union operated under was Human Services Health and Environment Federal Credit Union also known as HS & HE Federal Credit Union. The name Land of Enchantment Federal Credit Union was adopted in 1980 to include Eberline Credit Union as part of its family. Since that time our credit union has expanded its field of membership to include other organizations in the local community. We realize that although we have only one office, and that most of our membership is located throughout the state, we would welcome you to join our credit union and become a member of our family. Promising to serve to with the highest quality of member services, BenefitsThe Credit Union is a non-profit organization owned by our membership and operated solely for the benefit of our members. Your membership benefit enables you to receive most financial services for FREE and to borrow money at interest rates that are much LOWER than other banks or financial institutions. How to JoinAll it takes is a one time deposit of $50 into your share savings account. $100.00 deposit for checking account. Valid Drivers License or picture I.D and Social Security required. |
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Santa Fe, NM 87505 USA
505-982-6306
Fax: 505-989-8511|
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