Estacado Federal Credit Union History
On January 13, 1953, a small group of people affiliated with the Hobbs Municipal Schools joined together in an effort to build upon a dream. This dream was initially a concept whereby the establishment of a credit union would afford its members an opportunity to accumulate their savings and create a source of credit for provident and productive purposes.
This dream was realized when the Director of the Bureau of Federal Credit Unions approved the Hobbs Municipal Schools Federal Credit Union to promote savings and credit to its membership.
Since 1953, the Credit Union has experienced changes, which would be anticipated in a regulated financial environment. Those changes have been associated with growth, development, and confidence of a member-owned financial institution, offering the membership a wide range of financial products and services. Conoco Federal Credit Union and Hobbs Employees Federal Credit Union joined us in 1996 to further expand our membership.
In 2001, the Credit Union entered into another phase of its development. Taking on the new name of Lea Community Federal Credit Union, we are able to serve all residents who live, work, worship, or go to school in Lea County. As a not-for-profit, community-based financial institution, our goal is to continually offer superior rates and excellent member service.
Estacado Credit Union (ECU) was founded in January 20, 1964 to serve employees and their families of the Lovington and Tatum School Districts. ECU added New Mexico Junior College in 1968, Lea County Electric Cooperative in 1976, City of Lovington and Nor Lea General Hospital in 1980, LEACO Telephone in 1989, Lovington Transportation in 1999 and Lea County employees in 2007. In 2011, ECU's Board decided to expand our select employee groups (SEGs) and expand to over 50 new companies in Lovington.
In 2013, Lea Community FCU started a partnership with Estacado Credit Union in Lovington, NM to share resources for the benefit of both memberships. The two credit unions officially merged on April 1st, 2014 to become Estacado Federal Credit Union (EFCU). EFCU continues to be community-based and available to residents, employees, students and those who worship in Lea County. When you join Estacado, you are becoming a member of our family and supporting your local community. Thank you.