In the early fifties a small group of teachers got together and decided that they wanted to try to organize a financial entity just for teachers. The membership was open to school employees in Otero County, employees of the credit union and members of the immediate families. A teacher from Ruidoso asked to join the credit union so the by-laws were amended to include the Lincoln County Schools into the field of membership in 1965. Charles Southard named the credit union L. O. CO. Credit Union. L.O.CO. stood for Lincoln Otero Counties. Over the next several years the Board of Directors included eight other counties that were not being served by a school credit union. Today, LOCO Credit Union serves ten counties in the state of New Mexico. For this reason, the periods were dropped and the credit union was renamed LOCO Credit Union.
The following counties are currently being served by Loco Credit union:
Lincoln, Catron, Scorro, Torrance, Guadlupe, De Baca, Hidalgo, Union, Harding, Otero