Financial Assistance

Contact the Military & Family Readiness Center or Military One Source Certified Personal Financial Counselors to assist with:

Financial priorities, money matters and interests change throughout the lifecycle. For information on optimizing your financial resources and planning for the future, 

Financial guidance is offered for those experiencing money difficulties or who wish to learn more about money management.

A permanent change of station move usually impacts finances. Visit the financial counselor at your current location to anticipate changes and adjust your budget prior to your departure. Counseling is available upon arrival at Cannon Air Force Base in the Military and Family Readiness Center to help you fine-tune your financial plan. M&FRC is located at 331 D.L. Ingram Ave, Building 1433, Cannon AFB, NM.  For more information, call 575-784-4228.

My Vector PFR-Permanent Change of Station briefing or online CBT is required for PCSing members. 

Monitor your Leave and Earnings Statement at least once a month to ensure you are receiving the correct pay and allowances. Whether overpaid or underpaid, you will fare better by identifying it early; if overpaid, the money will likely be taken back all at once, so always have some money set aside for this or for other emergencies. At relocation time, members often take advance pay, which is a no-interest "loan" on income not yet earned, and it must be paid back. Before taking advance pay, carefully consider your budget (your Military and Family Readiness Center and Military One Source is available for help with this) to determine whether you can afford this new debt.

Housing Costs

Rental housing is available in a wide range of prices, depending on the area, size and condition of the home. Furnished housing is extremely limited, so plan to rent unfurnished. Homes with five bedrooms or more are generally unavailable. Most landlords do not allow pets.

The rental cost for a studio apartment or one-bedroom house is $400 - $900; two-bedroom houses are $675 -$1,400; three-bedroom houses are $1,050-$1,900; and four-bedroom houses are $1,650 - $2,050.

Balfour Beatty Communities is also available on base. The wait time for housing on base varies and it is recommended that you contact them directly about the wait time and to be added to the wait list. Call 575-784-7141. Base housing is generally available upon arrival.

Clovis, NM Housing Market:

In May 2023, the median home value in Clovis, NM was $240K trending up 6% year-over-year. The median home price per square foot was $126.

Utilities

Utility deposits may be waived with a good credit letter for one year from another utility company (get it before you leave your current location). The Housing Management Office has forms for waivers for deposit. Be prepared for phone and cable installation expenses. Phones may require a minimum deposit of $100 or more.

EPCOR Water Company, 1005 N. Norris St., Clovis, NM  1-800-383-0834

Farmers' Electric Cooperative, 3701 N Thornton St., Clovis, NM (575) 762-4466

Excel Energy, Residential Customer Service, 1-800-895-4999

Cellphones

Prior to entering into a contract with a cellphone provider before arrival, ensure the provider has service available in the Cannon Air Force Base area without roaming charges. Consider waiting to get cellphone service until after arrival in the Cannon area so that you will have a 575 area code; some units strongly urge members to have local phone numbers.

NM Auto Insurance requirements:

New Mexico law requires drivers to have auto liability insurance. New Mexico is considered a traditional tort state, which means if you are in an accident with another driver his or her insurance company covers your losses or you have to file a lawsuit to recover disputed damages for injuries and property. New Mexico law mandates that auto insurance policies provide the following:

Liability - Minimum Required:

• $25,000 per person for bodily injury
• $50,000 per accident for bodily injury
• $10,000 per accident for property

Uninsured/underinsured motorist coverage. Insured motorists who are concerned about being in an accident with an uninsured motorist can purchase this optional coverage to ensure their losses are covered.

Medical Payments Coverage or MPC. This optional coverage pays for reasonable expenses you and your passengers incur because of injury in a motor vehicle accident, regardless of fault. Coverage amounts available vary from company to company. You may wish to purchase it if you do not have health insurance, or to supplement any health insurance you do have.

Collision & Comprehensive. Collision insurance pays for damages to your car caused by another vehicle, an object or a rollover. Its not required by law, but most lenders require collision coverage for financing. Comprehensive insurance protects you against damage to your own car from perils like fire, theft, glass damage, hail, wind, flood or vandalism. Comprehensive isn't required either. If you have an older car, consider dropping these types of coverage to save on insurance premiums.