Sandia Laboratory Federal Credit Union Celebrates 75th Anniversary

From its humble beginnings 75 years ago within a barracks building on Kirtland Air Force Base in Albuquerque, New Mexico, Sandia Laboratory Federal Credit Union (SLFCU) has grown into the state’s second-largest credit union, with $3.6 billion in assets and almost 140,000 members. The venerable financial institution marked its milestone anniversary on October 18, 2023 with the theme “Celebrating our legacy and building yours.”

SLFCU’s legacy began in 1948 with 15 Sandia National Laboratories employees who saw the need for a credit union to serve the financial needs of their organization’s employees in Albuquerque. Today, in addition to serving Sandians and their families, SLFCU also serves the employees of 1,600 partner companies in New Mexico and California. Membership is open to just about everyone.

In a joint letter thanking members for an “amazing 75 years,” SLFCU President and CEO Stephanie Sherrodd and the SLFCU Board of Directors noted, “We are raising the bar and reimagining what a credit union can be. SLFCU’s guiding purpose is to redefine the cooperative spirit in financial services. It is squarely built on our commitment to deliver financial products that create jobs, housing, security, and growth for our members.”

The letter goes on to tell members they can expect more great things to come, including new products to help them keep more of their hard-earned money and expansion of lending activities in communities where other financial institutions are scaling back.

“We’re looking at the many new ways we can help our members succeed and thrive in the next 75 years. As we like to say, we’re not getting comfortable – we’re just getting started,” Sherrodd notes.

In that spirit, the credit union says it intends to become an economic engine for communities in the southwestern U.S. by delivering member-focused innovations that go beyond “banking as usual.” To acknowledge how changing economic conditions may be affecting its members, SLFCU has focused on encouraging them to save by introducing innovative products that offer high rates of return and flexible terms, such as its Power Money Market Account with Cash Back Bonus, the FLEX Account, and the MEGA Certificate.

SLFCU says it is committed more than ever to creating and delivering financial products that generate jobs, housing, security, and growth for its members. At a time when many banks are closing or consolidating, the financial institution offers both in-person service and innovative, digitally integrated tools for the convenience of its members. Today, SLFCU has 11 branches in Albuquerque, Edgewood, Farmington, and Los Lunas, New Mexico, and one in Livermore, California. A 13th branch is expected to open in Albuquerque before the end of 2023.

The credit union has been named by Forbes as a Best-in-State Credit Union for New Mexico for six consecutive years (2018-2023) and has received BauerFinancial’s Five-Star “Superior” rating for 27 straight years. SLFCU has more than 500 employees and was ranked by Albuquerque Business First as a Best Place to Work in New Mexico in 2023.

The Credit Union’s 75th anniversary celebrations included a Member Appreciation Week in mid-October, which featured a treasure hunt for prize packs valued at more than $100 each. The packs were hidden across the communities SLFCU serves, with daily clues to their locations given on social media. Members and employees also enjoyed a 75th anniversary party. Looking forward, the credit union plans to extend its anniversary activities by donating $7,500 in grants to local science classrooms to support the education of “75 Future Scientists.”