Sunwest Trust, Inc. began as a small escrow company called First Financial. In an office with only one employee and no escrow accounts, First Financial Escrow opened for business. First Financial quickly gained a reputation for being honest, hardworking and fair. Throughout the course of the next ten years, the company grew by accepting new accounts and purchasing small escrow companies in and around Albuquerque.
In 1997, First Financial purchased all of the escrow accounts from Sunwest Bank. In September of 1997, Sunwest Escrow, LC opened as a combination of the accounts serviced by First Financial and those of Sunwest Bank. The merger allowed them to move out of their small office space and into a building of their own.
To further provide for prospective customers as well as their current ones, executive board decided to form Sunwest Trust, Inc. In December 2003, Sunwest Trust, Inc. received its trust powers from the State of New Mexico Financial Institutions Division, making them the only company in New Mexico with the ability to act as both an escrow agent, and a custodian for an Individual Retirement Account or both simultaneously. Sunwest’s Trust division specializes in Self-Directed IRAs, which allow a client to invest his or her IRA in anything that the IRS will allow. This includes, but is not limited to, Real Estate, Real Estate Contracts, Mortgages, Limited Liability Companies and Private Stock.
Terry White, CEO of Sunwest Trust, Inc. :
“Sunwest is one of a few companies in the entire country that will act as custodian for a completely self directed IRA and the only one that I am aware of that will also escrow for owner financing. Over the years, we have also taken on special projects, such as acting as escrow agent for the State of New Mexico for the Indian Gaming compacts, acting as escrow agent for software bid packages for State Highway Department projects and small stock offerings. I hope this short history of Sunwest Trust, Inc. gives some sense of where we came from and where we are going as a company.”