New Mexico
Mountain America exiting New Mexico with branch deal
Paul Brady/pabrady63 – stock.adobe.com
A New Mexico-based credit union is bulking up in its home town, acquiring two branches from the $20.3 billion-asset Mountain America Credit Union in Sandy, Utah.
Members of Mountain America’s two branches in Albuquerque, New Mexico, approved the transaction earlier this month, paving the way for their acquisition by Sunward Credit Union. Expected to close early next year, the deal will result in Mountain America’s exit from New Mexico. No terms were disclosed.
Mountain West said in a press release it entered into the agreement with Sunward to focus on other geographies. Mountain West operates more than 100 branches in Utah, Nevada, Arizona and Idaho. A spokesperson had not responded to a request for comment at deadline.
For the $4.2 billion-asset Sunward, founded in 1948 by employees of Sandia National Laboratories, Albuquerque is a core market. Sunward’s presence includes its headquarters and six other branches. “This addition will strengthen our position and ability to deliver on our goal of making banking better in the Southwest, and in New Mexico specifically,” Sunward CEO Steph Sherrodd said in a press release.
Albuquerque credit unions have been active acquirers in 2024. The most prominent deals, however, involved banks. In March, the $4.9 billion-asset Nusenda Credit Union completed a
Branch sales between credit unions are relatively infrequent events, with about five taking place in any given year, Michael Bell, a partner with the Honigman law firm who specializes in credit union deals, said Tuesday in an interview. Like Mountain America’s agreement with Sunward, most involve one institution seeking to “right-size its footprint,” Bell said.
While credit union branch deals typically involve cash consideration for property, as well as a deposit premium, “I do believe there is an altruistic motive as well,” with sellers often concluding the buyers can better serve their members, Bell said.
Bell expects branch sales to occur more frequently, with credit unions that have shifted from employment-based fields of membership to ones that are geographically-oriented moving to exit markets that made sense once but are now distant from the core service area.
“Many credit unions do have odd footprints based on their historical genesis,” Bell said.
Sunward underwent a name change, from Sandia Laboratories Federal Credit Union, earlier this month.
SANTA FE, N.M. — Former New Mexico Public Regulation Commissioner Jim Ellison is running for governor as a Republican, he announced on social media Tuesday.
Ellison is running on affordability, opportunity and trust in government as the key points of his campaign. His experience includes serving on the NMPRC in 2023 and 2024.
“New Mexico deserves leadership that listens, acts, and delivers results. Our state has enormous potential, but too often that potential is held back by policies that don’t serve everyday New Mexicans,” he said on his website. “I’m running to bring practical solutions, honest accountability, and a renewed focus on the public interest.”
A Georgia native, Ellison has lived in New Mexico for 20 years and currently lives in the Albuquerque area with his wife and two children.
Ellison is aiming to get 5,000 signatures by Feb. 2, to appear on the primary ballot with at least three other Republicans who have announced their candidacy.
Ultra Health CEO Duke Rodriguez announced his campaign in December and recently confirmed to KOB 4 that he received enough signatures to appear on the primary ballot. Rio Rancho Mayor Gregg Hull and New Mexico State Sen. Steve Lanier are also running.
Three Democrats are running – Bernalillo County District Attorney Sam Bregman, Former Interior Secretary Deb Haaland and Former Las Cruces Mayor Ken Miyagishima.
ALBUQUERQUE, N.M. — A successful University of New Mexico Lobo athletics season and the athletics director’s departure has culminated in players and coaches making moves.
The moves follow a successful 2025 season and the departure of athletics director Fernando Lovo.
Running back coach John Johnson, special teams coordinator Daniel Da Prato and wide receiver coach Colin Lockett are all leaving the Lobos after just one season. Johnson is headed to Iowa State while Da Prato is expected to join Minnesota and Lockett is headed to UCLA, all for the same jobs.
Johnson’s Lobo running backs ran for more than 1,400 yards. Da Prato’s special teams finished top-five nationally in kickoff returns.
Running back D.J. McKinney entered the portal, he confirmed on social media the day the portal officially opened. McKinney rushed for 464 yards and seven touchdowns with the Lobos.
Two players who received all-Mountain West Conference recognition also made moves. All-Mountain West tight-end Dorian Thomas, who caught for touchdowns for the Lobos, entered the portal. Meanwhile, all-Mountain West honorable mention punter Daniel Hughes is set to leave.
Others set to leave include:
- Cole Welliver, backup quarterback who played in one game
- Landon Williams, defensive end who graduated from La Cueva High School
- Randolph Kpai, senior linebacker who is at the end of his college football career without a waiver
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