New Mexico Land Title Association Increases Endowment at New Mexico Junior College
9/5/2010 1:25:21 a.m. - Hobbs, NM. The New Mexico Land Title Association has placed an additional $30,000 in the New Mexico Junior College Foundation - New Mexico Land Title Association Chili Currier Scholarship Endowment. With the addition, the value of this particular endowment is now $40,000.
The Association has increased endowments placed with 12 colleges and universities in the state of New Mexico, and the current value of all of the endowments is in excess of $155,500. In the coming weeks, the NMLTA, through the Mortgage Finance Authority, will be adding $10,000 to all other current New Mexico Land Title Association Chili Currier Scholarship Endowments. In the past, scholarships of different amounts have been awarded directly to students by the Chili Currier Scholarship Fund.
The New Mexico Land Title Association is comprised of nearly 100 members including title companies and insurance underwriters throughout New Mexico. Associate members include attorneys and other real estate professionals.
The Chili Currier Scholarship Fund was started in the early 1980s with a donation from Carlsbad, New Mexico, title company owner Mike Currier with $100 won as a door prize at the NMLTA annual convention. This award was donated back to NMLTA for education. At the request of NMLTA member Randy Owensby, the $100 was used to start a scholarship fund, and so the Chili Currier Scholarship Fund was created. Fundraisers at other association events increased the fund until a $600 scholarship was awarded each semester to a New Mexico college student for educational expenses.
As the fund grew, the Chili Currier Scholarship Fund began placing endowments at colleges and universities throughout New Mexico. Today, many scholarships are granted each year through these endowments.
There is an additional component of funding that comes from the Land Title Trust Fund, an affordable housing fund managed by the New Mexico Mortgage Finance Authority. It is funded by interest earned on monies held by title companies and other entities that maintain escrow accounts and participate in the program. Ten percent of the funds generated through this trust fund are allocated for scholarships to New Mexico high school graduates and GED recipients at New Mexico public post-secondary institutions under a program administered by the Chili Currier Scholarship Fund through the NMLTA.
The Chili Currier Scholarship Fund was named after George “Chili” Currier, whose father George founded Currier Abstract Company in Artesia in 1939. The Currier family has been continually active and a leader in the land title industry in New Mexico ever since. George, “Chili,” and Mike have each served as president of the New Mexico Land Title Association. Mike also served as president of the American Land Title Association in the 1990s.
The New Mexico Land Title Association is pleased to be able to assist in the education of New Mexico’s youth. For more information, please contact the New Mexico Land Title Association office at 505.883.2683.
Submitted by James Owensby of Elliott and Waldron Title & Abstract Co.