Southwest FCU’s first employer groups, PNM and New Mexico Gas Company, offer their employees a benefit through their Credit Union.
Educational Assistance Loans cover a gap in tuition until a course is successfully completed. Contact your employer’s Human Resources Department or access your company Intranet for the necessary form to begin the process.
Once approved by your employer and Southwest FCU, the Credit Union will forward a check to your school for tuition. You may also use loan funds for other course-related items like textbooks. At the completion of the course (see your employer policy for minimum passing grade requirements), your employer will write a check to you and SFCU to pay off the balance of the loan. You will only be responsible for whatever interest has accrued (at 6.8%).
The Educational Assistance Loan plan is another way we partner with our Select Employer Groups to work for our members’ best interests.