Person using their cell phone in a retail store
Peddling a Passion.
The next time you are cycling through Kinsey Trail in Farmington keep an eye out for the 505 Cycles team. Owners Rhonda and Dale Davis have been in the business of selling bikes in Farmington, NM for just three years and shredding the local trail systems even longer. Pinion Mesa is another favorite trail system says Dale, “It’s like nothing else around here. At one point you’re in a forested section and a couple miles later you’re riding through a moon landscape.” As you can tell, operating a bike shop isn’t just about selling bikes, its about recreation, getting outside and experiencing happiness.
Outside Matters.
Getting outside is a passion at 505 Cycles and New Mexico is unsurpassed when it comes to offering world-class landscapes and diverse outdoor amenities and experiences. Being a leader in your community requires courage, couple that quality with a passion in everything you do, big things will start happening. Naturally – on August, 24, 2020 – the state of New Mexico announced the launch of endeavOR. A coalition of New Mexico business owners advocating for more investment and job growth in the state’s outdoor and recreational economy.
Before all of this big news were meetings, many meetings in coffee shops exploring names, developing plans, building a board, and discussing not-for-profit organizations. And it all happened in Farmington, NM. Amid the COVID-19 crisis, endeavOR reached a 100 member milestone on December 15, 2020. Dale, Rhonda and others formed a force of nature. How big is a force you inquire? Learn more at endeavornm.org.
You need reliable team.
Building a profitable business is a different story. “A big part of our business is our people. We have brands other bike shops have too. There’s another Kona dealer an hour away in Colorado, but they can’t replicate our people.”, Rhonda says with confidence. “So, if you have a fantastic team of people providing that customer service, knowledge and you’re doing the right thing. There’s a lot of places that just don’t do the right thing and that’s a BIG DEAL.” At 505 Cycles it’s not all about getting the best deal possible. They also love seeing a happy customer.
We’re Doing Good.
The business of selling bikes is good. “One of the things I have noticed last year when everything went crazy. We had people coming in who knew nothing about mountain biking. And they had nothing else to do. They came in and bought mountain bikes. We were afraid it was going to be a New Years resolution for a lot of people. And to see those same people still coming in, upgrading their bike and buying gear, and they’re smiling and they’re happy and they’re telling you “I lost 30 pounds, I’m feeling so much better, my whole family is riding, and they’re happy! To see that happiness and the things 505 Cycles does, helping people and bringing them happiness, that is a big deal.” Dale nods his head, smiles and says, “I love walking in here.”
In 2020, the COVID-19 pandemic fueled a bicycle boom. Bicycle sales pretty much tripled across the county leaving inventory out on the trail, not on the shelf. Bikes are still hard to find in 2021. Remembering 2020 and making a conscious choice to live healthily was just as much in mind as it was in spirit. Rhonda, talking about their customers said, “They sure wanted that liberty to be outside and that freedom you could really see that in their spirit.” There is no doubt 505 Cycles is a local favorite and they will do more than just sell bikes to your community – they will invest in it for good.
The Fun Starts Here!
4301 E Main St
Farmington, NM 87402
Free digital services available with all checking accounts:
Other free services available:
*U.S. government-issued ID and proof of residency required to open a new account (if current address is not listed on U.S. government-issued ID).
This account is ideal for small businesses with no monthly service charges.
This account is an interest bearing account, ideal for businesses that have low transaction activity and maintain high balances.
This account is ideal for businesses with high transaction volumes. A monthly analysis statement and earning credits are applied to offset account maintenance fees.
Money Market accounts are interest-bearing accounts that don’t tie up funds. Unlike a CD, which locks funds for a set period, a Money Market allows full access to funds; make deposits and limited withdrawals. Ideal for emergencies.
CDs typically yield a higher return over a longer period. At maturity, funds are readily accessible and new strategic options can be discussed.
Choose from a variety of sizes, offered at 500 West Main Street in Farmington and 77 West Main Street in Cortez.*
*No insurance coverage is provided on box contents by FDIC or this financial institution.
Other fees
Can’t make it to the bank before close? Night deposit is available at each of our seven locations. A convenient way for to drop off end-of-day deposits. Visit us at any location and ask for a secure night drop deposit bag. (Night drop bag fee will apply.)
Certificate of deposit | Interest rate | APY* |
---|---|---|
Certificate of deposit 90 day fix rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000+ | Interest rate 0.600% | APY* 0.600% |
Certificate of deposit 6-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000+ | Interest rate 3.000% | APY* 3.020% |
Certificate of deposit 7-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000+ | Interest rate 3.800% | APY* 3.830% |
Certificate of deposit 12-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000 to $249,999.99 $250,000+ | Interest rate 2.500% 2.500% | APY* 2.500% 2.500% |
Certificate of deposit 13-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000+ | Interest rate 3.750% | APY* 3.760% |
Certificate of deposit 18-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000 to $249,999.99 $250,000+ | Interest rate 3.500% 3.500% | APY* 3.510% 3.510% |
Certificate of deposit 24-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000 + | Interest rate 3.750% | APY* 3.750% |
Certificate of deposit 30-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000 to $249,999.99 $250,000+ | Interest rate 2.850% 2.850% | APY* 2.850% 2.850% |
Certificate of deposit 36-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000 to $249,999.99 $250,000+ | Interest rate 2.850% 2.850% | APY* 2.850% 2.850% |
Certificate of deposit 48-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000 to $249,999.99 $250,000+ | Interest rate 2.850% 2.850% | APY* 2.850% 2.850% |
Certificate of deposit 60-month fixed rate CD | Interest rate no | APY* no |
Certificate of deposit $1,000 to $249,999.99 $250,000+ | Interest rate 2.850% 2.850% | APY* 2.850% 2.850% |
Certificate of deposit rates are subject to change at any time and are not guaranteed until account is opened. Minimum balance of $1,000.00 required for all CDs. A penalty may be imposed for early withdrawal.
Transaction Accounts** | Interest Rate | APY |
---|---|---|
Transaction Accounts** Interest Checking | Interest Rate 0.080% | APY 0.080% |
Transaction Accounts** Savings Accounts | Interest Rate 0.200% | APY 0.200% |
Transaction Accounts** Money Market < $50,000 | Interest Rate 0.200% | APY 0.200% |
Transaction Accounts** Money Market $50,000 - $99,999 | Interest Rate 0.250% | APY 0.250% |
Transaction Accounts** Money Market $100,000 - $249,999 | Interest Rate 0.300% | APY 0.300% |
Transaction Accounts** Money Market $250,000 - $499,999 | Interest Rate 0.400% | APY 0.400% |
Transaction Accounts** Money Market $500,000 + | Interest Rate 0.650% | APY 0.650% |
Transaction Accounts** High Yield Money Market < $250,000* | Interest Rate 0.950% | APY 0.950% |
Transaction Accounts** High Yield Money Market $250,000 - $499,999* | Interest Rate 2.380% | APY 2.410% |
Transaction Accounts** High Yield Money Market $500,000 - $999,999* | Interest Rate 4.040% | APY 4.120% |
Transaction Accounts** High Yield Money Market $1,000,000 +* | Interest Rate 4.470% | APY 4.560% |
Offering rates are subject to change without notice.
**The interest rate and annual percentage yield may change after account opening.
**Fees could reduce the earnings on the account.
For current rate information, please call 505.327.3222 (New Mexico), 970.565.8421 (Colorado), or 855.547.3222 (toll free).