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