About Us

Residents Of Otero County Can Now Join - Contact Credit Union For More Information

On July 15th, 2007 LOCO Credit Union became a community chartered credit union, and opened its’ field of membership to the residents of Otero County.

LOCO Credit Union was organized and state chartered in January 1953 under the name of Otero County Schools Credit Union. The credit union operated out of a small closet in an old red brick building on Tenth Street. The credit union continued to grow and was relocated to it’s current location on Washington Avenue after moving from a vacated principal’s office to a classroom at Mid High School, to an office at First National Bank, and finally a small house on Tenth Street next door to the Frosty. LOCO Credit Union was the first financial institution in Alamogordo to go online in December 1981.

In the early fifties a small group of teachers got together and decided that they wanted to try to organize a financial entity just for teachers. The membership was open to school employees in Otero County, employees of the credit union and members of the immediate families. A teacher from Ruidoso asked to join the credit union so the by-laws were amended to include the Lincoln County Schools into the field of membership in 1965. Charles Southard named the credit union L. O. CO. Credit Union. L.O.CO. stood for Lincoln Otero Counties. Over the next several years the Board of Directors included eight other counties that were not being served by a school credit union. Today, LOCO Credit Union serves ten counties in the state of New Mexico. For this reason, the periods were dropped and the credit union was renamed LOCO Credit Union.