Union Savings Bank was formed in 1985 by several New Mexico building
trades unions that felt they were not being properly served by existing
financial institutions. Utilizing their pension and local union funds,
they purchased stock to open the Bank. The Bank is open to the general
public but is especially union oriented. We currently bank the majority
of the locals and their associated pension, health and welfare, dues, and
other funds in New Mexico. We also perform a lockbox function that
accepts employers’ contributions and distributes them to the appropriate
In addition to union ownership, the staff of Union Savings Bank is
organized by the United Food and Commercial Workers Union Local 1564.
This makes USB the only true union bank in this region and one of only
six in the entire country.
Through your assistance and participation, deposits in Union Savings
Bank can greatly increase the availability of loans to working union
members, finance additional construction projects, and generate work for
all union members.
At Union Savings Bank, we are union-owned and understand that the
satisfaction of each customer is the key to success. Anytime one of the
building trades’ members comes in covered with dirt and sweat, we
recognize that it is his or her labor that creates and maintains this
organization. That realization leads to superior service for all
customers – not just those that appear to be wealthy.
I would welcome the opportunity to further discuss additional
relationships with you, your company, your local, or your membership.
Feel free to contact me at 341.5210 (voice), 341.5201 (fax), or by e-mail
at firstname.lastname@example.org. Thank you
for your consideration.
Joseph S. Coey
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