Overview of Sandia Laboratory

Sandia Laboratory has been operating for 74 years, having first been established in the year 1948. The credit union mainly focuses on the provision of mortgages and lines of credit which represent 54% of its loans outstanding. In terms of its overall asset base, Sandia Laboratory is larger than 97% of credit unions in the country. Credit unions are regulated by the National Credit Union Administration (NCUA), which is an independent agency that was created by the U.S. government in 1970. The NCUA also insures customer deposits at credit unions in the country. The company has a total of 12 branches and employs a total of 397 employees.

Sandia Laboratory completed a merger with Animas Credit Union on July 1, 2021. Animas Credit Union has since been operating as a division of Sandia Laboratory, and the company has rebranded its Farmington-area presence as Animas Credit Union.

Who Can Join?

Membership is open to current and retired employees of partner companies, and their family and household members; family and household members of current members; current members of associations as stated in the list of partner companies; members of the National Museum of Nuclear Science & History; members of the Albuquerque International Association; and members of the American Consumer Council who are also residents in the following five states: NM, CA, AZ, TX, CO. Membership is also open to immediate family and household members of current members.

Overview of the Credit Union’s Assets and Liabilities

The credit union currently has total assets of $3,624 million, total deposits of $3,249 million and net loans outstanding of $1,510 million. On average its members had a total of $24,405 deposited with the credit union – this is a helpful metric to monitor as it provides us with an idea of the level of engagement of the credit union’s membership base. In addition, the credit union has a loan to deposit ratio of 46%, which is lower than its peer group average of 74%. Generally speaking, a lower loan to deposit ratio is better as it implies that the credit union is funding more of its lending activities with deposits. Lastly, Sandia Laboratory’s loan portfolio mainly consists of mortgages and lines of credit and auto loans which represent 54% and 35% of its loan book and had outstanding balances of $810 million and $535 million, respectively.

Contact and Other Helpful Information

  • Main Office Address: P.O. Box 23040, Albuquerque, NM 87192-1040
  • Website: http://www.slfcu.org
  • Phone: (505) 293-0500
  • Charter Number: 5851
  • Charter Year: 1948
  • Employees: 397
  • Routing Number: 307083911
  • Membership: The credit union has a membership base of 133,128 which is significantly larger than the average credit union operating within the state. Credit unions in New Mexico each have on average 24,938 members. Over the past three years, the credit union’s total base of members has increased by 32%.

Sandia Laboratory: Financial Overview

sandia laboratory-balance-sheet-metrics

As shown in the above chart, Sandia Laboratory’s assets have increased by 16.6% over the past year, while its mortgages and lines of credit – which is its largest category of lending – have increased by 7.1% over the past year. Furthermore, the company’s deposits have expanded by 18.0% while its total loans have expanded by 4.2%. We like to look at a credit union’s net worth to get a sense of the performance of the entity over the years for its members. Sandia Laboratory has a total net worth of $367 million while the average credit union in the United States has a net worth of $41 million. This implies that the credit union has a net worth per member of $2,760 which is greater than the national average of $1,633.

Overview of the Credit Union’s Performance Metrics

sandia laboratory-selected-performance-metrics

In the above chart we have displayed three statistics that are important in evaluating a credit union’s performance and shown how Sandia Laboratory compares on these metrics, in addition to detailing how the credit union performed on each metric in the prior year. If we take a look at Sandia Laboratory’s return on assets – which is usually a good measure of how efficiently a company is using its assets to produce profits – we see that the credit union is below the average comparable credit union and also that over the past year ROA has been relatively stable given the year over year change of 0.03%. Moving on to the credit union’s delinquency rate, which tells us how much of a credit union’s loan book is delinquent, the credit union is below its peer group on this metric and compared with the prior year it has been relatively stable. Keep in mind that a higher delinquency rate indicates a lower performing loan book so a declining rate is a favorable trend. Finally, the net worth ratio for the credit union is 10.1% which is above its peer group average of 9.8%. This metric has declined on a year over year basis and stood at 10.5% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.


Our final rating for Sandia Laboratory, after assessing the credit union on what we consider to be the important metrics, is 4.1 out of 5.0, which is exceptional. Importantly, please be aware that none of the information presented is meant to be investment advice or advice of any form. All of the information and views expressed in this note and on this site are purely for informational purposes.