New Mexico banks, S&Ls, credit unions - savings and loan associations

New Mexico Business Journal, July, 1990 by Kathleen Young

But Smen says even if credit unions banks have decided not to challenge on safety and soundness. "They will continue to harp on taxation as a fairness issue," he says, "but when you take a look at credit union's assets, the percentage compared to the banking industry is about one percent. It makes no sense."

Credit union investments are in their members, says Smen, and profits go back to the members. "We're not for profit, not for charity, but for service," she states, "And we will continue to look at safety and soundness and balancing that with service to members -- those are our primary concerns for the '90s." [Graphs 1 to 10 Omitted] [Tabular Data 1 to 6 Omitted]

Kathleen Young is a former Air Force information specialist and a freelance writer based in Albuquerque.