Railroad Employees Credit Union traces its roots back to 1955, when Belen Railway Employees Credit Union was granted its state charter, making it the oldest continuing financial institution in Belen, New Mexico.
At a time when working families often faced significant challenges obtaining affordable credit, a group of dedicated railroad employees came together to create a financial cooperative built on a simple but powerful mission: to provide hard working railroad employees and their families with access to credit at fair rates and without unnecessary barriers. This commitment to serving members and strengthening communities remains at the heart of our organization today.
One of the original founders, Arthur Ortiz, played a pivotal role in shaping the credit union’s future. A Santa Fe Railway employee, Arthur served as both manager and treasurer while maintaining his full-time railroad career. Guided by the credit union philosophy of “People Helping People,” he dedicated countless hours to helping members improve their financial well-being.
For 33 years, Arthur managed the credit union, overseeing its growth from a small operation run out of a corner of his dining room to a thriving financial institution. As membership expanded, the credit union moved into larger areas of the Ortiz home, which was enlarged twice to accommodate its continued growth. Throughout those years, Arthur was supported by his wife, Barbara Ortiz, who generously volunteered her time and service to the credit union for more than 53 years.
Under Arthur’s leadership, the credit union evolved from hand-posted ledgers to modern computerized operations. What began as a small, family-run organization grew into a professional financial institution serving thousands of members.
In 1988 his daughter, Gloria Gabaldon, started serving as manager and following Arthur Ortiz’s passing in 1992 continued the family legacy by serving as manager for another 18 years. In 2010, Gerry Troyer was hired as President and Chief Executive Officer, leading the credit union into a new era of growth and service. In 2025, we proudly welcomed New Mexico native, Matthew Soto, as CEO to continue our mission.
Today, the same spirit of “People Helping People” continues to guide our Board of Directors, Supervisory Committee members, and staff. What started as a vision among railroad workers has grown into a strong and trusted financial cooperative serving members throughout New Mexico and beyond.
With more than 42,000 BNSF Railway employees across the United States eligible for membership, the credit union continues to expand its reach while remaining committed to its founding mission of serving hardworking individuals and their families.
On January 1, 2022, the credit union officially changed its name from Belen Railway Employees Credit Union to Railroad Employees Credit Union. The new name reflects both our proud heritage and our continued commitment to serving railroad employees and their families wherever they may be.
For more than seven decades, Railroad Employees Credit Union has remained dedicated to improving the financial lives of its members, honoring the legacy of those who founded the credit union while building a stronger future for generations to come.
