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2018 Annual Report

Chairman’s and President’s Report

by H. Jack Randall, chairman of the board and William Jacobs, president and chief executive officer

On behalf of White Sands Federal Credit Union Board of Directors and staff, we are pleased to present your credit union’s 2018 annual report. It highlights White Sands FCU’s pursuit of fulfilling its mission: To provide quality products and services to our members. Looking back at 2018, we are proud of what we have accomplished.

Continuous improvement was the theme for 2018. As we do every year, we made improvements to computers, servers and software. We began the critical process of creating a business impact analysis, which involves recognizing, evaluating and prioritizing all our systems and applications, and identifying a backup plan in the event of disaster. We feel confident that if we do experience a catastrophe, we will be able to continue serving you, our members. Another important project we embarked on in 2018 was a comprehensive employee training process, to ensure our staff can serve you at the highest level.

We had some successes financially as well. Our year-end net income was $1,615,578. Assets grew by over $11 million, to a total $307,916,445. Loans grew by $3.9 million, to a total of $200,718,347. Total deposits grew by $9 million, ending the year at $278,870,970. Our net worth is at $27.9 million, and our net worth-to-total assets is 9.4 percent, which is considered strong by the National Credit Union Administration. Our loan quality remains excellent, with just 0.28 percent of loans delinquent.

As a credit union, it is our goal to deliver competitively priced products and services that benefit our members. In 2018, we increased deposit rates nine times, making White Sands FCU the best place to keep their savings for a great number of members. We made 3,627 loans to members last year, for almost $69 million, helping members achieve their dreams every day.

White Sands FCU also benefits the communities in which we serve through donations of time and money. The credit union donated over $15,000 to local charities and non-profit organizations in 2018, and our employees donated an additional $5,200 of their own funds. Here are some of the organizations that benefited from the largess of White Sands FCU, its staff, and its members:

  • Aggie Cupboard food pantry at NMSU
  • Angel Tree
  • Autism Society of El Paso
  • Desert Haven Animal Refuge in Truth or Consequences
  • El Caldito Soup Kitchen in Las Cruces
  • El Pasoans Fighting Hunger food bank
  • Elephant Days Parade in Truth or Consequences
  • Fiesta Parade in Truth or Consequence
  • Habitat for Humanity in El Paso
  • Hatch Public Library
  • Junior Achievement JA in a Day in Las Cruces
  • Lee & Beulah Moor Children’s Home in El Paso
  • March of Dimes Walk for Babies in Las Cruces
  • Operation Noel El Paso
  • Providence Children’s Hospital in El Paso
  • Ronald McDonald House Charities in El Paso
  • Shop with a Cop Las Cruces
  • Special Olympics Holiday Classic in Las Cruces
  • The Club Teen Center in Truth or Consequences
  • Tombaugh Elementary Fall Festival in Las Cruces
  • Villa Maria homeless women’s shelter in El Paso

We confidently look forward to 2019 and the great things we can accomplish. This is a strong and growing credit union, and we expect our successes to continue. Thank you for letting us serve you since 1952. Our overarching goals are providing exceptional service, innovative products and high value well into the future.

Supervisory Committee Report

by Patty Wagner, chairman of the supervisory committee

The Supervisory Committee is composed of three volunteer members, whose responsibility is to oversee the credit union’s financial condition and operations. To help us conduct a thorough examination in 2018, the Supervisory Committee utilized the services of Bolinger, Segars, Gilbert and Moss Certified Public Accountants to perform a detailed audit of the credit union. In addition, the National Credit Union Administration (NCUA) performs regularly scheduled federal examinations. All audit findings indicated that the credit union is financially sound, maintains accountability of its financial and lending records, and possesses good management.

The Supervisory Committee also handles inquires from individual members and the NCUA concerning application of policies, procedures and regulations. Based upon our reviews, we are confident that your credit union is operating in compliance with all laws and regulations for federally chartered credit unions. Should you have questions or need assistance, you can reach your Supervisory Committee at: Supervisory Committee, White Sands FCU, PO Box 99, Las Cruces, NM 88004.

Statement of Condition as of December 31, 2018 
Cash on hand $34,359,587
Net Loans to members$200,718,347
Fixed assets$56,087,635
Other assets$16,750,876
Total assets$307,916,445
Liabilities and net worth
Accounts payable & accrued expenses$1,082,706
Net worth$27,962,768
Total liabilities and net worth$307,916,445

Statement of Operations as of December 31, 2018 
Interest on loans
Income from investments
Fees and other income
Total Revenue$13,410,801
Operating expenses
Cost of funds
Provision for loan loss
Total Expenses

Net Income


Contact our Call Center at
(575) 647-4500 or (800) 658-9933.

Hours of Operation:
Monday thru Friday, 8 am-5 pm

By email:

By mail: P.O. Box 99 Las Cruces, NM 88004

2755 North Main St, Las Cruces NM 88001

Routing & Transit # 312276470

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the U.S. Government. National Credit Union Administration, a U.S. Government Agency.  Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

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