After nearly 20 years of service, Sylvia Lyon, president/CEO of the Credit Union Association of New Mexico, will retire March 7, 2014.
Merger is Rio Grande CU's second in eight years.
As of June 30, New Mexico credit unions were thriving with a return on assets of 101 basis points, according to NCUA quarterly mapping data. That’s well above the national average of 0.86% ROA. However, the so-called fiscal cliff could curse profitability for credit unions in the Land of Enchantment.
While ROAA is well above national average, dependence on government jobs could make New Mexico and its credit unions vulnerable to fiscal cliff.
Shared branching comes to another New Mexico CU