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Letters of Credit

A Letter of Credit guarantees funds from you to an entity that you do business with and are obligated to pay, as well as, guarantee performance on a construction project, or payment for goods furnished on the credit of LANB. 

We offer 2 different types of Irrevocable Letter of Credit:

  • Performance:  A Performance Letter of Credit is issued to ensure to the beneficiary (often city or county government) that funds are available for work to  be completed as contracted.
  • Financial: A Financial Letter of Credit is issued to facilitate payments related to a commercial transaction involving shipment of goods.
Ready to Apply?

1. Download An Application
2. Download a Personal Financial Statement
3. Call our loan office (505) 662-1080 for questions or to schedule an appointment with one of our commercial lenders.

 

Interest Rates

Free Checking Plus
0.010% IR : 0.010% APY

eChecking
0.010% IR : 0.010% APY

Senior Account
0.010% IR : 0.010% APY

View Rates